Bill Gates, the billionaire and Microsoft co-founder, is concerned. He isn’t concerned about how Satya Nadella runs Microsoft or the fact that his Twitter account got hacked. Instead, he’s worried about how the coronavirus vaccine will be distributed when it becomes available.
Bill Gates Foundation supports coronavirus fight
The Bill and Melinda Gates Foundation has committed tens of millions of dollars to the fight against the COVID-19 pandemic. The foundation has donated to help develop COVID-19 vaccines. Currently, about two dozen COVID-19 candidates have been undergoing tests at various stages around the world.
The efforts to defeat coronavirus have been commendable. The disease has impacted the global economy and millions of lives. Corporations like Walt Disney and Apple had to close some businesses amid the COVID-19 pandemic. Google might report a decline in its advertising revenue for the first time this year due to the coronavirus. Generally, the coronavirus fallout has weighed on the advertising industry. Therefore, Google isn’t the only company that’s feeling the impact. Facebook and Twitter also rely on advertising sales. Microsoft sells online ads. Bill Gates owns about 1.36 percent of Microsoft stock.
The economic blow from the COVID-19 pandemic has resulted in massive job losses, which threatens business growth. Companies like Uber Technologies have slashed thousands of jobs in response to the coronavirus outbreak. A COVID-19 vaccine or cure would speed up the economic recovery around the world. However, Bill Gates warned that prioritizing the sale of a COVID-19 vaccine to the rich would be counterproductive. The billionaire is worried about a situation where wealthy countries receive the COVID-19 vaccine and developing countries are left behind.
Microsoft stock up 50 percent since Gates stepped down
Microsoft shares have risen more than 30 percent this year. The stock would do better if the COVID-19 pandemic gets resolved. Right now, Bill Gates is using his wealth to defeat the disease.
Microsoft shares have gained about 50 percent since Bill Gates announced that he would step down from the company’s board in March. He also exited Berkshire Hathaway’s board at the same time.
With respect to Microsoft, Bill Gates said, “Stepping down from the board in no way means stepping away from the company. Microsoft will always be an important part of my life’s work.”
Bill Gates also talked about continuing to engage with Microsoft CEO Satya Nadella to achieve the company’s goals. Cloud computing has become a major area of focus for Microsoft. The company defeated Amazon in the race for the $10 billion Pentagon JEDI cloud contract. However, Amazon sued to challenge Microsoft’s JEDI contract win. According to Amazon, President Trump influenced the contract decision to punish Amazon CEO Jeff Bezos. President Trump is a big critic of Bezos. Besides Bill Gates, Bezos is among the prominent figures in business and politics. Bezos also fell victim to the Twitter hack. The other victims of the bitcoin scam on Twitter are Tesla CEO Elon Musk, Joe Biden, and Barack Obama.