At a time when the Bill and Melinda Gates Foundation has been under unprecedented pressure to commit to fossil fuel divestment, their annual tax filings were released last week. The filings revealed that the Foundation's investments in fossil fuels have dropped by almost two-thirds, from a huge $1.4 billion to a significantly less huge $475 million. Almost all of that drop can be accounted for by their decision to shed their portfolio of Exxon Mobil, a whopping $824 million share in the company reduced to naught with the stroke of a pen.
Relief to have some good news for a change!
Perhaps they wanted to double down on Monsanto.
Gates, a great advocate of monopoly business practices did not come by his fortune through particularly ethical means. So while it may be good news that his investment portfolio is backing away from oil, it may be less about moral virtue than based on today's oil price per barrel.
And as to this:
"As such, when an institution of the moral and economic influence of the Gates Foundation chooses to disassociate itself from such a company that can only be a good thing, a massive step in the right direction...."
PLEASE don't put moral influence into any description of Bill Gates. What he and his financial enablers have done to children's minds by pushing standardized tests, and children's brains by pushing a ridiculous overload of mandatory inoculations (some no doubt linked to escalating Autism rates), and the integrity of nature's plant communities by pushing Monsanto CRAP are crimes against humanity!
Since Mr. Connon used the word MORAL 3X in this short piece, one wonders if he's paid to Greenwash Gates' reputation?
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Gates is no hero by a long shot. He is deeply invested in GMOs and Monsanto who are determined to turn most of this planet into a genetic wasteland of Frankenfoods,and worse. Small farmers are being driven off their lands as Big Agri seizes land and turns it into a desert as a result of pesticides and fertilizers that strip the top soil, kill insects and those who feed of them. No he is no friends to us or the planet.
Is the Bill and Melinda Gates Foundation a charitable foundation or a stock fund? I would think one could do a lot of good work with $475mm instead of buying Exxon stock.
Thank you. Did you catch this quickee which is a doorway into this dead soul's dead soul?