Billionaire Bill Gates has reportedly stopped providing funds to a $77 billion foundation that pushes woke causes and Democrat candidates.
An internal foundation announcement obtained by the New York Times showed the Gates Foundation stopped providing grants to foundations managed by Arabella Advisors in late June, per the Daily Mail:
Executives at the foundation, which generally supports health initiatives around the world, said it would not make any new investments with ‘Arabella-related entities,’ would not extend any existing grants to the for-profit consulting firm and would even try to ‘pursue early exits’ from a few long-term investments.
They cited a desire to engage more directly with grant recipients and cut back on the use of intermediaries as the reason for the change.
The announcement in late June from the Gates Foundation said that “teams are increasingly working directly with programmatic partners – organizations that are deeply embedded in the communities we serve and [are] closely aligned with our mission.”
“As we look ahead, this is a chance to build deeper, more durable relationships with those partners – and to reinforce the kind of legacy we want to leave behind,” the announcement said.
A spokesperson for the Gates Foundation told the Times that severing from Arabella was a “business decision that reflects our regular strategic assessments and partnerships.”
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