Business and tech

Bill Gates pledges to give his wealth away

todayJuly 18, 2022 5

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Bill Gates, who is worth an estimated $72 billion, has renewed his promise to give away his fortune and said he plans to “drop off” the list of the world’s wealthiest people. It coincided with an announcement from the Microsoft co-founder that he would be donating $20 billion (£17 billion) to his charitable organization. The guy ranked as the world’s fourth richest has claimed a “responsibility” to give back to society.

Even though Mr. Gates increased his wealth since he first promised to donate it in 2010, he has not yet fulfilled his 2010 pledge. Forbes estimates his net worth to be $118 billion, but after a planned donation to the Bill & Melinda Gates Foundation, a philanthropic organization he co-founded with his ex-wife in 2000, that number will drop dramatically. In light of recent “global defeats,” such as the pandemic, the Ukraine crisis, and the climate issue, Mr. Gates announced on Twitter that the Gates Foundation would increase its annual spending from $6 billion to $9 billion by 2026.

When asked about his future plans, he responded, “I plan to leave practically all of my wealth to the foundation.” I feel obligated to return my fortunes to society in ways that have the greatest impact on decreasing suffering and improving lives. Therefore, I plan to gradually drop off the list of the world’s wealthiest people. And I pray that other people of great power and fortune will rise to the occasion as well.

The Gates Foundation is dedicated to helping countries rid themselves of malaria and other diseases, as well as improving education and sanitation. In 2020, it was estimated that this organization held $49.8 billion in assets and was supported by philanthropists, including Warren Buffett, who is worth an estimated $8.2 billion. While the foundation has accomplished much good, critics have questioned whether it is moral for a private organization to have such power. The foundation’s 2018 donation to the World Health Organization was the second largest of any private donor. After former President Trump threatened to withhold US aid, concerns over this grew.

From 1995 to 2010 and again from 2013 to 2017, Mr. Gates was Forbes’ richest person in the world. Elon Musk, CEO of Tesla, will overtake Jeff Bezos as the most powerful person in the world in 2022.


Written by: Relaks Radio

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