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Bill Gates Says He Will Give Away All His Wealth To Charity – This Is How He Intends To Spend It

Bill Gates Has Big Plans For Donating His Wealth. This Is How He Intends To Spend It

On Wednesday, the Microsoft pioneer and once the world’s wealthiest man unveiled a $20 billion donation to his family charity. He also stated on Twitter that he plans to “donate almost all my money” to the Bill & Melinda Gates Foundation, which he co-founded in 2000 with his now ex-wife.

Giving up his fortune will drive him “down and eventually off the list of the world’s richest people,” according to Gates. However, he still has an “obligation” to give his fortune back to society “in ways that have the greatest impact for reducing suffering and improving lives.” Gates further expressed his hope that others in his position and with similar wealth would follow suit.

That will be a lot of wealth to give away. According to Forbes, Gates’ net fortune is approximately $101 billion, and the vast majority of that number will be used to promote the issues such as improving global health and education and reducing climate change.

According to public statements made by Gates, his foundation will receive the great majority of his money, with his three children receiving a “miniscule percentage.”

The causes that Gates has embraced most of his charitable career, such as global health, educational efforts, gender equality, and climate change mitigation, are likely to receive the majority of Gates’ fortune.

A large portion of his money will probably go toward the Gates Foundation’s efforts to find and combat diseases worldwide and stop the possibility of the next pandemic. These programmes rank among the foundation’s more accomplished endeavours.

Since 1988, Gates has concentrated on halting the spread of diseases like HIV/AIDS, TB, and malaria. His efforts are credited with reducing the number of polio infections by 99 percent and rescuing around 18 million children from the disease.

Child poverty reduction is also likely to be a significant focus of Gates’ giveaway. According to a recent Wall Street Journal article, the Gates Foundation will receive a $56 billion donation from Berkshire Hathaway CEO Warren Buffett when he dies. According to foundation officials, one planned use of the funds would be to provide thousands of dollars to each child worldwide, which would be housed in a newly established bank.

Gates’ fortune will certainly be moved toward sponsoring the development of new technologies in which he has demonstrated a strong interest. Gates launched his Breakthrough Energy project in 2015, an umbrella for his many investments in renewable energy to help fight climate change.

Moreover, next-gen energy oversees several of Gates’ technology-focused investments, including a major stake in an ongoing carbon capture and removal project and a business attempting to crack the code of nuclear fusion energy.