There is a growing number of articles, including this BLOG article by Allison Fine, that are frustrated by the Bill and Melinda Gates Foundation.
I have been working with, seeking funding from, giving grants as a colleague to foundations for fifteen years. In that time, I have been witness to myriad gaffes, incredible acts of ego and shortsightedness, frustrations and confounding changes of direction. But never in that whole times have I been as outraged as I am today with the behavior of the Bill and Melinda Gates Foundation.
Most articles focus on the lack of ethical investment strategies which allow their "good work" to be nullified by the harm caused by the companies they invest in. Few get into the whole question of imposing monopoly-rent-seeking business models in areas such as software, health (medial, science) and education which are areas where peer production/peer distribution are far more effective.