Bill & Melinda Gates Foundation supported a broad range of social, health, and education developments including the establishment of the Gates Cambridge Scholarships at Cambridge University. In 1994, the foundation was formed as the William H. Gates Foundation. During the foundation's following years, funding grew to $2 billion. On June 15, 2006, Gates announced his plans to transition out of a day-to-day role with Microsoft, effective July 31, 2008, to allow him to devote more time to working with the foundation. In 2005, Bill and Melinda Gates, along with the musician Bono, were named by "Time" as Persons of the Year 2005 for their outstanding
Bill Gates but is known as William Gates III or "Trey" because his father had the "II" suffix. The family lived in the Sand Point area of Seattle in a home that was once damaged by a rare tornado when Gates was nine years old. Early on in his life, Gates observed that his parents wanted him to pursue a law career. When Gates was young, his family regularly attended a church of the Congregational Christian Churches, a Protestant Reformed denomination. The family encouraged competition; one visitor reported that "it didn't matter whether it was hearts or pickleball or swimming to the