The Microsoft The co-founder announced that he will donate $20 billion to his humanitarian foundation. He is the fourth richest man in the world He said it was his “duty” to give back to the community its resources.
Bill Gates first vowed to ditch everything in 2010, but his fortune has doubled since then.
He returns his “full fortune” to society
His current fortune is $118 billion, but it will drop dramatically after he donated it in July to the Bill & Melinda Gates Foundation, the charitable foundation that he and his ex-wife founded in 2000. In a tweet, Gates announced that the foundation would increase its spending from $6 billion to $6 billion. $9 billion annually by 2026 due to recent “global failures,” including the pandemic, Ukraine and the climate crisis.
As I look to the future, I plan to give my entire fortune to the foundation. I will go to a lower level, and eventually I will be out of the list of the richest people in the world
– The businessman promised. He added that it is his duty to return his resources to society in a way that has the greatest impact in reducing suffering and improving life.
Although the foundation bears our names, essentially half of our resources have come from Warren Buffett. His incredible generosity is a big reason why the organization can be so ambitious. I can never adequately express how much I appreciate his friendship and direction. pic.twitter.com/at7MvJKxQv
Bill Gates July 13, 2022
The Gates Foundation works to eradicate disease, improve education and poor sanitation. In 2020, it was the second largest charitable foundation in the world, with assets of $49.8 billion.
Moral dilemma
Although the foundation “did a good job”, some have raised concerns about the ethics of a private foundation having such an impact, BBC.
The Foundation is the largest private donor to the World Health Organization, with its annual donation in 2018 second only to the United States. Concerns about this became more prominent after former President Donald Trump threatened to withdraw US aid.
Bill Gates was the richest man in the world between 1995 and 2010, and again between 2013 and 2017.
Amazon founder Jeff Bezos ousted him from the top spot in 2017, before Tesla CEO, Elon Musk He assumed the leadership position in 2022.
