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One of the wealthiest figures in the world, Bill Gates, does not want to remain on the richest people’s list forever. Bill Gates has pledged to donate his wealth to the Bill and Melinda Gates Foundation.
According to Bloomberg’s Billionaire Index, the Microsoft co-founder is currently the world’s fourth-richest person, with an estimated net worth of $114 billion.
“As I look to the future, my plan is to give all my wealth to the foundation other than what I spend on myself and my family. I do some giving and investing in U.S. health care issues, including Alzheimer’s, outside the foundation,” Gates wrote in a blog post.
“I will move down and eventually off the list of the world’s richest people. My giving this money is not a sacrifice at all. I feel privileged to be involved in tackling these great challenges, I enjoy the work, and I believe I have an obligation to return my resources to society in ways that have the greatest impact on improving lives,” he added.
Bill Gates and his ex-wife, Melinda French Gates, have pledged to donate a part of their wealth to the Bill and Melinda Gates Foundation, established in 2000.
“With the support and guidance of our board, the Gates Foundation intends to increase spending from nearly $6 billion per year before COVID to $9 billion per year by 2026. Our focus will remain the same—but at this moment of great need and opportunity, this spending will allow us to accelerate progress by investing more deeply in the areas where we are already working. To help make this spending increase possible, I am transferring $20 billion to the foundation’s endowment this month,” the 66-year-old billionaire wrote.