Trump says China tariffs will be reduced as trade delegates head into negotiations this weekend
- In today’s CEO Daily: Diane Brady on Bill Gates and the new pope.
- The big story: Trump says China tariffs will be reduced as trade delegates head into negotiations this weekend.
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Good morning. Two powerful figures who are motivated by a desire to do good are on my mind this morning. First, there’s Pope Leo XIV, who hails from Chicago and is the first American to lead the Catholic Church. Then there is Bill Gates, who, in a wide-ranging and exclusive interview with Fortune published yesterday, delved into his decision to radically accelerate his giving. We know that Cardinal Robert Francis Prevost is stepping up to head an organization that has long been financially troubled and has a mission to grow for the next century and beyond. Gates, on the other hand, has pledged to give practically all his wealth to a foundation that he now plans to close by 2045.
We don’t yet know how Pope Leo XIV will shape his strategy or the organization he leads. But we’ve had 25 years to see the impact of the Gates Foundation, which was established by the Microsoft cofounder and his now-ex wife Melinda. It’s had a profound impact on boosting global health and development while reducing preventable deaths, especially through vaccine development, education and local funding.
As Gates scales up his giving (you can read Fortune’s package of stories here), it does raise questions about the amount of sway a private citizen should have over public policy. His generosity—which could total $200 billion by 2045—gives him incredible power in shaping public policy. When another fellow billionaire, Elon Musk, took his hatchet to USAID, Gates criticized it as tantamount to “the world’s richest man killing the world’s poorest children.” Musk isn’t elected–and neither is Bill Gates. Should either have this much sway? But Gates is stepping up at a time when many public officials are stepping back. Few can argue with the need to invest in public health around the globe. Gates will save lives. I hope he—and the new pope—also succeed in empowering others, too.
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Contact CEO Daily via Diane Brady at diane.brady@fortune.com
This story was originally featured on Fortune.com