Bill Gates, a well-known billionaire, has revealed that he intends to donate his entire wealth to his foundation. This was announced by Bill Gate in a recent post on his verified twitter account.
The post reads;
“Several huge global setbacks over the past few years have left many people discouraged and wondering whether the world is destined to get worse.
The pandemic is one of the biggest setbacks in history. The war in Ukraine is a gigantic tragedy for the entire world. The damage from climate change is already worse than most models predicted. The U.S. has taken a huge step backward for gender equality and women’s health.
But I’m still optimistic. These setbacks are happening in the context of two decades’ worth of historic progress and I believe it is possible to mitigate the damage and get back to the progress the world was making.
Melinda and I started the @gatesfoundation in 2000 because we believed that every person should have the chance to live a healthy and productive life. That vision remains the same, but the great crises of our time require all of us to do more.
With the support and guidance of our board, we plan to increase our spending from nearly $6 billion per year today to $9 billion per year by 2026. To help make this spending increase possible, I am transferring $20 billion to the foundation’s endowment this month.
I am very proud of the foundation’s role in helping solve big problems like preventing pandemics, reducing childhood deaths, eradicating diseases, improving food security and climate adaptation, achieving gender equality, and improving educational outcomes.
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.
As I look to the future, I plan to give virtually all of my wealth to the foundation. 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 on reducing suffering and improving lives. And I hope others in positions of great wealth and privilege will step up at this moment too.”