Bill Gates, the creator of Microsoft, has long supported philanthropy. The billionaire’s most recent vow, though, is so lofty that it will knock him off the list of the richest individuals in the world.
By 2026, the Bill and Melinda Gates Foundation will increase its spending from $6 billion to $9 billion yearly, Gates tweeted on Wednesday. Additionally, Gates gave the fund’s endowment $20 billion.
In 2000, Gates and his then-wife Melinda French Gates established the foundation, whose main objectives are to improve healthcare, combat poverty, increase access to education, and advance information technology.
The billionaire began by discussing global challenges and “setbacks,” such as the epidemic, the conflict between Ukraine and Russia, climate change, and gender equality in the United States.
Following that, Gates praised fellow billionaire Warren Buffett for his “amazing generosity” toward the foundation and how it had made possible its “ambitious” mission.
He continued by discussing how his charitable activities and gifts will knock him off the list of the richest people in the world.
“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,” he said. “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.”
In a recent interview where he discussed his efforts to address the climate change catastrophe, Gates recently rekindled his fight with Elon Musk.
In a recent interview where he discussed his efforts to address the climate change catastrophe, Gates recently rekindled his fight with Elon Musk.
The two have been exchanging jabs over it since Musk said that Gates’ environmental assertions are unsupported by any concrete action.