The Bill & Melinda Gates Foundation which is no doubt the largest private body of its kind has spent billions of dollars on initiatives aimed at eradicating infectious diseases and reducing poverty. Furthermore, the organization also tackled problems like hunger, illiteracy, and lack of healthcare globally over 20 years.
According to Nonprofit Quarterly, there are plenty of critics regarding the Gates Foundation that don’t believe he is as benevolent as he is portrayed.
Without a doubt, the foundation’s philanthropic contributions are so considerable that the government’s efforts often pale in comparison. However, one thing that was pointed out in the article published by Nonprofit Quarterly was that there is little oversight or accountability. With assets nearing $50 billion, approximately 40 percent of them consist of funds ordinarily been collected as taxes, but as a charitable foundation, they benefit from massive tax breaks and have the freedom to do what they please with the money.
The Nation reported last year that the foundation earned $28.5 billion in investment income over the last five years while giving away $23.5 billion in charitable grants — a gap that leaves a significant chunk of change with the foundation.
Nonprofit Quarterly has several articles criticizing the Gates Foundation, and one discussed how the foundation contributed to the Alliance for a Green Revolution in Africa’s (AGRA) failed regenerative agriculture efforts. AGRA promoted the foundation’s western business model using their sources to buy the needed seeds and fertilizers.
So, while the public’s perception is one of gratitude, critics believe the Bill and Melinda Gates Foundation is nothing more than a tax shelter that uses philanthropic investments to avoid paying taxes while furthering their own agenda.