Bill Gates, a billionaire, has
recommitted to sharing his wealth with others and added that he will someday
"drop off" the list of the world's richest people.
It happened at the same time the
co-founder of Microsoft revealed he would give $20 billion (£17 billion) to his
charitable organization.
The fourth-richest individual in
the world claimed he had a "responsibility" to give back his wealth
to society.
In 2010, Mr. Gates made a
commitment to donate his wealth, but since then, it has more than doubled.
According to Forbes magazine, he
is presently worth $118 billion, although that amount will drop dramatically
following his donation in July to the Bill & Melinda Gates Foundation, the
charity organization he founded with his ex-wife in 2000.
In a Twitter thread, Mr. Gates
stated that recent "global setbacks" including the pandemic, Ukraine,
and the climate issue will cause the foundation to increase its investment from
$6 billion a year to $9 billion by 2026.
I intend to donate almost all of
my wealth to the foundation in the future, he stated. "I have an obligation to return my fortunes to society in ways
that have the greatest impact on eliminating suffering and enhancing lives,"
he said.
"I will fall down and eventually off the list of the world's
richest individuals. And I sincerely hope that other people who enjoy great
riches and privilege will do the same at this time”.
While the foundation has done
good work, some have questioned the morality of a private organization
possessing such power.
With its annual donation in 2018,
the foundation became the second-largest private donor to the World Health
Organization behind the US. After previous President Donald Trump threatened to
cut off US financing, worries over this sharpened.
Between 1995 and 2010, as well as
again from 2013 to 2017, Mr. Gates was the world's richest person according to
Forbes.
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