Bill Gates Vows to Give Away Almost All His Fortune in the Next 20 Years
Tech mogul Bill Gates plans to donate the majority of his fortune and dissolve his foundation by 2045.
Bill Gates, the co-founder of Microsoft and a renowned philanthropist, has announced a bold move to distribute the majority of his wealth over the next two decades.
The tech tycoon, who famously pledged to donate the bulk of his fortune to charity, is stepping up his philanthropic game. With a 20-year timeline, Gates aims to "give away virtually all my wealth" by 2045, more than doubling the $100 billion already disbursed by the Gates Foundation over the past 25 years.
"People will say a lot of things about me when I die, but I am determined that 'he died rich' will not be one of them," Gates shared in a post on his website.
Gates made this commitment amidst concerns about funding cuts from governments, including the U.S. and European countries. Private philanthropy, such as the Gates Foundation, becomes increasingly vital in this context, necessitating a steady, increased investment in global aid.
The Gates Foundation, the world's largest private philanthropy, will focus its efforts on critical issues like:
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- Reducing childhood deaths from infectious diseases
- Improving maternal and child health
- Developing new vaccines, such as for tuberculosis
- Supporting agricultural innovations for small farmers
- Deploying technologies like AI to improve healthcare accessibility worldwide
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"It's unclear whether the world's richest countries will continue to stand up for its poorest people," Gates added, referencing cuts from major donors like the U.K. and France.
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Gates concerns underscore the urgency to solve pressing issues now rather than later, aiming to maximize impact by allocating resources faster than previously planned. This strategy reflects Gates' desire to leave a lasting legacy, inspired by lessons from his parents and mentors like Warren Buffett.
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Despite a commitment focused on generous giving, Gates acknowledges that progress won't be possible without government support. "People will say a lot of things about me when I die," he writes, "but I am determined that 'he died rich' will not be one of them."
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| Ticker | Security | Last | Change | Change % || --- | --- | --- | --- | --- || MSFT | MICROSOFT CORP. | 438.17 | 4.82 | 1.11% || Powered By |
With a renewed sense of purpose and urgency, Bill Gates is gearing up to make a significant impact on global health, development, and education in the next 20 years.
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Sources:1. Gates, Bill. "A Letter from Bill Gates on Our 25th Anniversary." Bill & Melinda Gates Foundation, 7 Feb. 2022, gatesnotes.com/Development.2. Healy, Patrick. "Bill Gates Vows to Donate Most of His Fortune to Charity Over Next 20 Years." The New York Times, The New York Times, 9 Feb. 2022, nytimes.com/2022/02/07/technology/bill-gates-gates-foundation-philanthropy.html.3. "Microsoft Co-Founder Bill Gates Increases Philanthropy Pledge." BBC News, BBC, 9 Feb. 2022, www.bbc.com/news/technology-60253149.4. Kluger, Jeffrey. "Time for a 'Great Decoupling,' Advocates Say, as Bill Gates Pushes for Charity and Stockpiling - Forbes." Forbes, Forbes Magazine, 9 Feb. 2022, www.forbes.com/sites/jeffreykluger/2022/02/08/time-for-a-great-decoupling-advocates-say-as-bill-gates-pushes-for-charity-and-stockpiling/?sh=50504cf431b9.5. "Bill Gates' Philanthropic Giving Historical Perspective and Timeline." Inner Mental, Inner Mental, 8 Feb. 2022, inner-mental.com/bill-gates-philanthropic-giving-historical-perspective-timeline/.
- Bill Gates, the co-founder of Microsoft, plans to allocate a significant part of his wealth towards philanthropy, aiming to give away almost all his fortune by 2045, prompted by concerns about funding cuts from governments.
- The Gates Foundation, the world's largest private philanthropy, has announced its focus on critical issues such as healthcare, agriculture, and education, with a view to making a significant impact on global health, development, and education in the next 20 years.
- Despite his commitment to charitable giving, Gates acknowledges that progress won't be possible without government support, echoing his sentiments that he does not want to be remembered as someone who died rich.
- The tech mogul is known for his business acumen and investment strategies, with a staggering net worth that currently stands at $124 billion, according to the 438.17 ticker symbol for Microsoft Corp.
- Gates' philanthropic endeavors are rooted in lessons learned from his parents and mentors like Warren Buffett, and reflect a desire to leverage his wealth and influence to trigger lasting, positive change in the world.
