Gates Leads $1 Billion Clean Energy Fund To Fight Climate Change

"At least 20 heavyweight investors including Amazon’s Jeff Bezos and Virgin’s Richard Branson are pledging their support."

"Microsoft co-founder and billionaire Bill Gates is heading a $1 billion venture fund that will invest in clean energy technology to combat climate change.

Some of the world’s wealthiest business leaders are joining forces with Gates on the Breakthrough Energy Ventures fund, including Amazon founder and CEO Jeff Bezos, Virgin Group founder Richard Branson, LinkedIn co-founder Reid Hoffman and Alibaba executive chairman Jack Ma. The combined net worth of the fund’s directors is roughly $170 billion, according to Quartz.

“I am honored to work along with these investors to build on the powerful foundation of public investment in basic research,” Gates said in a statement on Sunday. “Our goal is to build companies that will help deliver the next generation of reliable, affordable, and emissions-free energy to the world.”"

Valerie Volcovici reports for Reuters December 12, 2016.