Bill Gates Holds $254 Million in Big Oil Investments Despite Blaming the Industry for ‘Climate Change’
Let that sink in.
This article originally appeared on Jon Fleetwood’s Substack and was republished with permission.
Guest post by Jon Fleetwood
Gates Foundation Trust holds hundreds of millions of dollars in companies like Chevron, BP, and Shell while simultaneously investing in climate change initiatives—profiting from both ends.
The Gates Foundation Trust has invested hundreds of millions of dollars in oil extractors despite Bill Gates’ claims that the industry is to blame for long-debunked “climate change,” according to a Monday report from The Guardian.
The new report confirms:
“End-of-year filings reveal that in 2024 the trust invested $254m in companies that extract fossil fuels such as Chevron, BP and Shell. This was a nine-year record and up 21% from 2016, Guardian analysis found. Adjusting for inflation, it was the highest amount since 2019.”
Gates has claimed that Big Oil products are making the future “worse” for humanity.
On his website GatesNotes.com, the billionaire writes:
“[B]urning fossil fuels helps people now at the cost of making the climate worse for people in the future.”
This raises logical questions:
If fossil fuel extraction, in Gates’ opinion, makes the future worse for humanity, why is the Gates Foundation Trust investing over a quarter of a billion dollars in the very industry Gates publicly condemns?
Why does Gates urge the world to divest from fossil fuels while his own trust quietly profits from them?
Why is oil framed as a moral threat to humanity—yet treated as a lucrative investment when Gates’ money is on the line?
Why is the public told to abandon fossil fuels while the Gates Foundation Trust expands its financial stake in them?
Why are ordinary people expected to sacrifice their livelihoods and energy security, while Gates’ foundation continues to profit from the same industry?
His investment strategy shows he is financially exposed to the very market failure he publicly defines as an existential threat—while also holding positions in the policy and technology sectors built to “fix” it.
In December, the Gates Foundation announced a four-year, $1.4 billion investment in “climate resilience.”
The same crisis Gates warns will destabilize the future is embedded in his trust’s revenue stream, with profits tied both to fossil fuel extraction and to the industries positioned as replacements.
The trust’s portfolio reflects a system where Gates benefits regardless of outcome: continued oil dependence or forced energy transition.
The financial record shows that the “problem” and the “solution” are not separate markets for Gates—they are part of the same revenue cycle.
Rather than distancing himself from the industry he condemns, Gates’ trust remains structurally dependent on it while also financing the mechanisms designed to dismantle it.
Gates is also currently funding new mRNA bird flu vaccines while financially backing biolabs said to be performing gain-of-function experiments on bird flu pathogens.
Congress, the White House, the Department of Energy, the FBI, the CIA, and Germany’s Federal Intelligence Service (BND) have confirmed that the COVID-19 pandemic was likely the result of lab-engineered pathogen manipulation.
The record shows a closed financial loop in which the same actor who defines the worldwide threat is positioned to collect returns from both the continuation of that threat and the systems built to manage, regulate, and replace it.
Copyright 2026 Jon Fleetwood
This really captures the core issue with elite climate activism - profiting from both sides of the "problem." The fact that Gates holds positions in both the fossil fuel industry AND the tech sectors designed to replace it shows its less about solutions and more about maintaining control of capital flows. I've noticed this pattern accross so many foundations that claim to be solving crises. Brilliant investigative work here.