- Bill Gates, a multibillionaire, has vowed to donate once more.
- Microsoft co-founder said he would donate $20 billion.
- Mr. Gates also said that he will eventually “drop off” the world’s rich list.
Bill Gates, a multibillionaire, has vowed to donate his riches once more and said that he will eventually “drop off” the world’s rich list.
It happened at the same time the Microsoft co-founder said he would donate $20 billion (£17 billion) to his charitable organization.
The fourth-richest individual in the world asserted that he had a “obligation” to give back to society some of his wealth.
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When Mr. Gates originally made his promise to donate his riches in 2010, his net worth had more than doubled.
Forbes estimates his current net worth to be $118 billion, although that figure will drop dramatically following his July gift to the Bill & Melinda Gates Foundation, the nonprofit organization he founded with his ex-wife in 2000.
Although the foundation bears our names, basically half our resources have come from Warren Buffett. His incredible generosity is a huge reason why the foundation has been able to be so ambitious. I can never adequately express how much I appreciate his friendship and guidance. pic.twitter.com/at7MvJKxQv
— Bill Gates (@BillGates) July 13, 2022
In a Twitter thread, Mr. Gates announced that the foundation will increase its expenditure from $6 billion year to $9 billion by 2026 as a result of recent “global setbacks” like the epidemic, the conflict in Ukraine, and the climate problem.
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“As I look to the future, I plan to give virtually all of my wealth to the foundation,” he said. “I will move down and eventually off of the list of the world’s richest people.
“I have an obligation to return my resources to society in ways that have the greatest impact for reducing suffering and improving lives. And I hope others in positions of great wealth and privilege will step up in this moment too.”
