Billionaire philanthropist Bill Gates has reportedly stopped supporting a nonprofit network with close ties to the Democratic Party as he continues to make moves to shield his charity from political pressure, the New York Times reported.
Executives at the Gates Foundation in an internal June announcement said it would no longer make any new investments in Arabella Advisors, a Washington, D.C.-based consulting firm that manages several funds that finance left-wing groups, citing a desire to engage more directly with grant recipients and cut back on the use of intermediaries as the reason for the change.
"Teams are increasingly working directly with programmatic partners — organizations that are deeply embedded in the communities we serve and [are] closely aligned with our mission," the announcement said.
"As we look ahead, this is a chance to build deeper, more durable relationships with those partners — and to reinforce the kind of legacy we want to leave behind."
A spokesperson for the Gates Foundation told the Times the move was "a business decision that reflects our regular strategic assessments and partnerships."
The Gates Foundation has been on edge since President Donald Trump took office, concerned that their tax-exempt status could soon be targeted, according to the Times.
In April, the foundation opened its scholarship program to students of all races after a conservative legal activist asked the Internal Revenue Service to strip it of its tax-exempt status for offering scholarships based on race.
Solange Reyner ✉
Solange Reyner is a writer and editor for Newsmax. She has more than 15 years in the journalism industry reporting and covering news, sports and politics.
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