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Bill Gates Gives $700,000 To Defeat Proposition 23

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Microsoft Chairman Bill Gates. (Win McNamee/Getty Images)

Microsoft Chairman Bill Gates. (Win McNamee/Getty Images)

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SACRAMENTO (AP) — The campaign against Proposition 23 — the ballot initiative that would push back California’s landmark global warming law — is getting another big financial boost from a high-tech billionaire.

The Sacramento Bee reports that Microsoft co-founder Bill Gates has donated $700,000 to the No on Prop. 23 committee.

The donation from Gates comes after Google Inc. co-founder Sergey Brin last week contributed $200,000 to the campaign. Intel Corp. co-founder Gordon Moore has contributed $1 million.

If approved by voters, the initiative would suspend the Global Warming Solutions Act until California’s unemployment rates drops to 5.5 percent for four consecutive quarters.

The climate change law is scheduled to go in effect in 2012.

The 54-year-old Gates co-founded Microsoft in 1975. His net worth has been estimated by Forbes magazine at $54 billion.

(© 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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