Bill Gates comes as a ray of hope for humanity. Plans to donate ‘Virtually All’ of His $113 Billion to charity.
Being one of the wealthiest guys in the world, it is typically recommended to be careful how you spend your money. Otherwise, you may run out of it. But for multi-billionaire Bill Gates, he wants to run out of money!
Earlier this week, Gates announced that he would donate $20 billion to the Foundation. That is a significant chunk of Gates’ wealth.
Gates has estimated that the spending increase in the Foundation will be from $6bn to $9bn annually by 2026.
He also restated his pledge to give away “virtually all of my wealth to the foundation.” His ultimate goal seems to eventually drop off the list of the world’s wealthiest people.
In a tweet on July 13, the multi-billionaire posted. “I have an obligation to return my possessions to society. So that it has the greatest impact on improving lives and lowering suffering. And I hope other people in positions of great wealth and privilege will step up at this moment too.”
The Bill& Melinda Gates Foundation
Unlike most wealthy people, Bill Gates’ has a philanthropic side. He was always involved in various charitable organizations. He didn’t grow up rich and thus knows the importance of giving back.
After starting his Foundation in 2000, he became more involved in charity. Bill has been known to be extraordinarily generous and giving. Both he and his ex-wife have given over $50 billion to the Foundation. That is more than the GDP of several countries combined!
The Gates and Melinda foundation supports various humanitarian causes. The major ones include eradicating preventable diseases and fighting poverty and starvation. Gender equality has also been one of the mottos of the organization.
In another tweet, Gates talked about the worldwide crises. These include Covid, the war in Ukraine, and the climate emergency. He said, “this requires us to do more.” He also said he remains hopeful that these crises can be addressed.
Gates also thanked Warren Buffet, another charitable billionaire, for donating $3.1 million to his foundation.
Both Gates and Buffet have urged other billionaires to donate more back to society. Yet, the urges fall on deaf Ears. I guess not everybody thinks well about his fellow human.
Moving forward, Gates said he wants his ever-increasing donations to fund research. Preferably tackling climate change and preventing future pandemics. Also, reducing global childhood deaths from preventable diseases by 50% in the coming years.
But, some people are skeptical of Gates’ pledge. Critics of the charitable foundation highlight the possible risks — and potential dangers.
They have implied worry over such an enormous charitable foundation having complete sway over how billions of dollars are spent. Particularly on issues of extraordinary worldwide significance.
Critics have said private foundations should have more open public oversight and accountability.
According to some sources, Bill Gates would still be the richest man alive if he hadn’t given so much to charity. This shows character, passion, and dedication to giving back to the community.
To be remembered, not as a Billionaire, but as a gentle and kind soul. The type of person whose resources affected millions of lives and made them better.