Bill Gates wants a cure for Alzheimer's disease and he's putting up $100 million to find it

Billionaire Microsoft founder and philanthropist Bill Gates is pledging $100 million to help find a cure for Alzheimer's disease.

A person is diagnosed with the brain-wasting disease every 66 seconds, according to CNN, and Gates said he has a family history of the illness.

"It's a huge problem, a growing problem, and the scale of the tragedy - even for the people who stay alive - is very high," he told Reuters.

Gates said he's investing $50 million in the Dementia Discovery Fund, which is a collaboration between business and government to find a treatment for the sickness. Then he'll put another $50 million, a personal investment, in a start-up Alzheimer's disease research venture, according to Reuters.

Despite decades of research, there is no cure for Alzheimer's disease and there are few drugs that can do anything more than treat some of the symptoms.

Cox Media Group