Bill Gates, co-founder of Microsoft, has announced a significant philanthropic commitment, pledging to donate 99% of his wealth over the next two decades. According to CNN, he plans to contribute an additional $100 billion to the Gates Foundation, which is celebrating its 25th anniversary. Gates emphasizes that he does not wish to leave behind a vast fortune when he passes away.
Commitment to Giving
Gates stated, “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. There are too many urgent problems to solve for me to hold onto resources that could be used to help people.” His goal is to distribute his wealth by December 31st, 2045, the target date for the closure of the Gates Foundation.
Expected Impact
Through this initiative, it is anticipated that around $200 billion will be allocated to various charitable efforts globally. This figure includes Gates’ personal wealth, the Foundation’s existing endowment, and income generated from ongoing business investments.
Current Net Worth
As reported by Bloomberg, Bill Gates ranks fifth on the list of the world’s wealthiest individuals, with an estimated net worth of $108 billion. His commitment to philanthropy marks a transformative approach to wealth distribution, focusing on addressing pressing global challenges.