Bill Gates Donates $20 Billion, to Lose World’s Wealthiest Title
Bill Gates is about to give the most money he has ever given away. The businessman is putting $20 billion into the account of the Bill and Melinda Gates Foundation, which he started with his ex-wife Melinda French Gates. The foundation helps with many things, like helping disaster-stricken areas or making health care better in some places, among other things.
This is how your fortune will be used
The foundation, which is in its 20th year, is one of the biggest philanthropies in the world. With this money, it will reportedly increase the amount it gives to charities each year from $6 billion to $9 billion by 2026. This could be to deal with new problems like the Coronavirus pandemic and the war in Ukraine.
Bill Gates and his ex-wife have both said that they will give away most of their wealth to this foundation and other charitable causes. Both of them said that they would keep working together for another two years, until 2023. After that, French Gates can say she wants to leave the foundation and Gates will pay her to do so. However, it looks like she will stay connected to the foundation by giving a lot of her money to it.
The Bloomberg Billionaires Index says that Bill Gates is now the fourth richest person in the world. He said that he won’t always be on that list and that he plans to get off of it with these donations. In a post, he said, “I will lose money and eventually fall off the list of the richest people in the world.” “I have a duty to give back to society in ways that help the most people and have the most impact. I hope that other people who have a lot of luck and power will do the same at this time.”
Bill Gates made most of his money from his work at Microsoft, a company that changed the world of personal computing and made it possible for as many people as possible to have a computer in their homes. He stepped down as president in 2014 so he could focus on his work with the Bill and Melinda Gates Foundation. Among other things, he has been in charge of giving conferences and doing work to bring attention to problems like climate change.
Gates learned a lot from Warren Buffett, who is also one of the richest people in the world. Buffett also said that he would give his entire fortune to charity before he died. Even though his children will get something from him, they won’t get huge fortunes like other billionaires have. Gates wants to use the money he makes to change the world and try to make it better even though it is in a bad place right now.
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