Subj : A new Bill Gates charity foundation is spending $1bn to boost AI
To   : All
From : TechnologyDaily
Date : Fri Jul 18 2025 17:15:07

A new Bill Gates charity foundation is spending $1bn to boost AI tools for 
at-risk Americans

Date:
Fri, 18 Jul 2025 16:04:00 +0000

Description:
Bill Gates helps launch $1 billion initiative to help low-income Americans 
get out of problems with AI.

FULL STORY
======================================================================NextLadd
er Ventures is a 15-year, $1 billion initiative to help 90 million low-income 
Americans Grants, equity and revenue-based financing will be on offer to 
eligible participants Anthropic will offer Claude credits and support worth 
$1.5 million annually 

NextLadder Ventures has launched a $1 billion initiative to help support 
low-income Americans, arming them with AI skills for future employment 
opportunities. 

The initiative was founded by a coalition of major philanthropies, including 
Ballmer Group, Gates Foundation, Stand Together, Valhalla Foundation and John 
Overdeck. 

It's set to run for 15 years, providing grants, equity and revenue-based 
financing to nonprofits and for-profits to help support at-risk Americans, 
with Anthropic joining as its inaugural AI partner offering Claude credits 
and expert support. Gates Foundation backs $1 billion AI initiative 

The Gates Foundation described NextLadder Ventures as an "initiative grounded 
in the belief that every American has the potential to achieve economic 
prosperity." 

"While innovative ideas exist to help low-income Americans overcome obstacles 
and pursue prosperity, there is insufficient capital available to those 
serving these populations," its press release says. 

The initiative aims to expand economic opportunities for over 90 million 
low-income Americans, supporting entrepreneurs who want to address job loss, 
housing instability and health crises. As part of the deal, Anthropic will 
contribute about $1.5 million annually. 

"The Gates Foundation is focused on lifting millions of people out of poverty 
and onto a path to prosperity," Gates Foundation CEO Mark Suzman commented. 

The coalition announced Ryan Rippel as the CEO of NextLadder Ventures. 
Rippel, who already has a history working with the Gates Foundation, 
challenged the notion of a one-size-fits-all approach, pledging new and 
practical pathways. His "design with, not for" stance comes from growing up 
in a single-parent household in Missouri, where he was able to experience 
some of the struggles NextLadder Ventures aims to solve. 

In a LinkedIn post , Rippel wrote: "Closing this divide means helping the 
helpers and the people they serve access new, practical pathways to 
opportunity." 

Further details on NextLadder Ventures are limited, but we expect to hear 
more in the coming weeks. You might also like Why Bill Gates is wrong about 
AI and 3 things he needs to realize These are the best AI tools and best AI 
writers Check out our roundup of the best job sites



======================================================================
Link to news story:
https://www.techradar.com/pro/bill-gates-charity-foundation-is-spending-usd1bn
-to-boost-ai-tools-for-at-risk-americans


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