Bill Gates, the co-founder of Microsoft turned philanthropist, announced on Wednesday that he will remove himself from the list of the world’s wealthiest people by donating “virtually all of his wealth” to the Gates Foundation.
In layman’s terms, he is donating $20 billion to himself.
In 2010, Bill Gates promised to donate all of his wealth, but since then, his fortune has more than doubled, according to BBC.
In a long Twitter thread, Bill Gates detailed his thoughts on a variety of topics, including pandemic prevention, gender equality and women’s health, and climate change.
“Several huge global setbacks over the past few years have left many people discouraged and wondering whether the world is destined to get worse,” Gates wrote on Twitter.
“The pandemic is one of the biggest setbacks in history. The war on Ukraine is a gigantic tragedy for the entire world. The damage from climate change is already worse than most models predicted. The U.S. has taken a huge step backwards for gender equality and women’s health,” he added.
Gates said that he is still hopeful that these setbacks will be mitigated and we can “get back to the progress the world was making.”
By 2026, Gates intends to raise the amount spent on his foundation from $6 billion to $9 billion each year.
With the support and guidance of our board, we plan to increase our spending from nearly $6 billion per year today to $9 billion per year by 2026. To help make this spending increase possible,