Bill Gates, the creator of Microsoft, stated that he plans to donate 99 percent of his enormous wealth over the course of the next 20 years. Gates stated that he will expedite his charitable contributions through his foundation, which he intends to shut down by 2045.
He wrote on his blog Thursday, “When I die, people will say a lot of things about me, but I am determined that ‘he died rich’ will not be one of them.”
According to Mr. Gates, 69, his own foundation has already donated $100 billion (£75 billion) to health and development initiatives, and he anticipates spending an additional $200 billion over the next 20 years, contingent on inflation and market conditions.
In his blog post, Mr. Gates referenced industrialist Andrew Carnegie’s 1889 article, The Gospel of Wealth, which argues that rich individuals have an obligation to give back to society. According to Mr. Carnegie, who was referenced by Mr. Gates, “the man who dies thus rich dies disgraced.”
His most recent promise signifies a surge in philanthropic contributions. At first, Bill and his former spouse, Melinda, intended for the Gates Foundation to carry on its work for many years after their passing. According to Bloomberg, giving up 99 per cent of his wealth might still make Mr. Gates a billionaire; the Microsoft founder is now the fifth richest person in the world.
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