Trending: German team registers the top speed (again) in Elon Musk’s Hyperloop pod race

Microsoft co-founder Bill Gates has pledged to give away the vast majority of his money. But how is the billionaire allocating those funds? The Bill & Melinda Gates Foundation today released a breakdown as part of its 2010 annual report. Interestingly, the $2.4 billion that Gates gave away in grants last year, is about $575 million less than in 2009.

Jeff Raikes, CEO of the Gates Foundation, lays out some of the challenges facing the organization in his annual letter. In it, he writes:

“Together with our grantees and partners, we are working to solve some of the world’s toughest problems. How to deliver vaccines to the most remote places in the world. How to make sure that every child in the United States has an effective teacher and that all teachers have the support they need to be as effective as possible. These are not easy tasks. But as long as we consistently build productive partnerships, there is no limit to the impact we can have together.”

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