White Kids Banned From Bill Gates Scholarships?

Cofcc.org:

Bill Gates has made his scholarship fund off limits to white teenagers. The Gates Millennium Scholarship fund is financed by a $1 Billion endowment Bill Gates made in 1999. The fund explicitly denies eligibility to white students.

“Students are eligible to be considered for a GMS scholarship if they: Are African American, American Indian/Alaska Native, Asian and Pacific Islander American, or Hispanic American;”

I hope that this isn't true, because if it is it would be one of the most disgraceful examples of liberal hypocrisy in the supposedly "post-racial" Obama Era I've ever witnessed. Indeed, Bill Gates may suffer from some kind of self-hate regarding his race, but if it wasn't for white folks love for Microsoft products he wouldn't near as mega-rich as he is.