Bill Gates Vows to Give His Way off World’s Richest List in Fighting ‘Huge Global Setbacks’ Like Ukraine War, Abortion Ruling
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Billionaire Bill Gates vowed on Wednesday to transfer another $20 billion of his vast wealth to his foundation to help fight off what he laments as “huge global setbacks.”
“The pandemic is one of the biggest setbacks in history,” Gates wrote on Twitter.
“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.
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.
— Bill Gates (@BillGates) July 13, 2022
In the lengthy Twitter thread, Gates vowed to gift his way of the world’s richest list and thanked billionaire friend and mentor Warren Buffett for his commitment to philanthropy.
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, I am transferring $20 billion to the foundation’s endowment this month. pic.twitter.com/ybLMAKPx7I
— Bill Gates (@BillGates) July 13, 2022
“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,” Gates argued, before explaining how will increase his giving:
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, I am transferring $20 billion to the foundation’s endowment this month.
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
Bloomberg notes that Gates is currently worth some $113 billion and he wrote, “As I look to the future, I plan to give virtually all of my wealth to the foundation. I will move down and eventually off of the list of the world’s richest people.”
Gates concluded with the hope that others will follow his lead:
I have an obligation to return my resources to society in ways that have the greatest impact for reducing suffering and improving lives. And I hope others in positions of great wealth and privilege will step up in this moment too.
I have an obligation to return my resources to society in ways that have the greatest impact for reducing suffering and improving lives. And I hope others in positions of great wealth and privilege will step up in this moment too.
— Bill Gates (@BillGates) July 13, 2022
