Bill Gates: He wants to leave the richest people – What will he do about it?

He plans to give away practically all of his wealth

In an announcement that we would describe as surprising, the tycoon Bill Gates announced that he no longer wants to belong to the richest people on the planet and revealed his plan to achieve this goal. 

Practically, as he wrote in his announcement through Twitter, he will donate all his wealth over time for the greater good of the planet and thus he will leave the list of the richest people. 

The former Microsoft founder and CEO revealed that he will donate all of his money to the Bill & Melinda Gates Foundation, “except for what he spends on himself and his family.” He goes on to say the following: 

Donating this money is not even a sacrifice to me. I feel privileged to be involved in tackling such grand challenges, I enjoy the work and believe I have an obligation to give back to society in ways that will have the greatest impact on improving our lives. 

I hope that others with similar positions, wealth and privileges will also take the initiative at this juncture. 

I am very proud of the foundation’s role in helping solve big problems like preventing pandemics, reducing childhood deaths, eradicating diseases, improving food security and climate adaptation, achieving gender equality, and improving educational outcomes.https://t.co/D8rJrdoPOE

— Bill Gates (@BillGates) July 13, 2022

Although the foundation bears our names, basically half our resources have come from Warren Buffett. His incredible generosity is a huge reason why the foundation has been able to be so ambitious. I can never adequately express how much I appreciate his friendship and guidance. pic.twitter.com/at7MvJKxQv

— Bill Gates (@BillGates) July 13, 2022

He even announced that he is immediately donating $20 billion to the endowment of the Bill & Melinda Gates Foundation. This will help the foundation with its expenses and increase them to over $6 billion annually, reaching $9 billion annually by 2026 .

Melinda and I started the @gatesfoundation in 2000 because we believed that every person should have the chance to live a healthy and productive life. That vision remains the same, but the great crises of our time require all of us to do more. https://t.co/QBT6FHMqEj

— Bill Gates (@BillGates) July 13, 2022

The American tycoon explained the reasons behind the move, including the pandemic, the worsening climate change damage and the war in Ukraine, all of which have caused a lot of unhappiness. ” But the great crises of our time require all of us to do more ,” he said, among other things, and continued: ” I hope that by giving more, we can alleviate some of the suffering people are facing right now and help fulfill the vision of the institution to give every person the opportunity to live a healthy and productive life .”