Bill Gates Announces $20 Billion Donation and Obligation to Return His Resources to Society
BBC | Daniel Thomas | Jul 14, 2022
Billionaire Bill Gates has pledged again to give his wealth away, adding that he will eventually “drop off” the world’s rich list.
- The world’s fourth richest man said he had an “obligation” to return his resources to society. It came as the Microsoft co-founder announced he would make a $20bn (£17bn) donation to his philanthropic fund. In a Twitter thread, Mr Gates said the foundation would boost its spending from $6bn a year to $9bn by 2026 due to recent “global setbacks” including the pandemic, Ukraine and the climate crisis.
- He is currently worth $118bn, according to Forbes magazine, but that will fall significantly after his donation in July to the Bill & Melinda Gates Foundation, the charitable fund he set up with his ex-wife in 2000.
- Mr Gates first pledged to give away his wealth in 2010 but his net worth has more than doubled since then.
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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.
— Bill Gates (@BillGates) July 13, 2022
Read: Apple, Disney, Microsoft among companies backing groups against US climate bill
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 for reducing suffering and improving lives. And I hope others in positions of great wealth and privilege will step up in this moment too.
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