The former philanthropist and co-founder of software titan Microsoft bemoans the way the world is heading.
Gates suggests in a series of tweets that our world is regressing on a number of issues by listing what he calls “setbacks” from the previous two years.
The philanthropist wrote on his account, “Several huge global setbacks over the past few years have left many people discouraged and wondering whether the world is destined to get worse.” 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. ”
Even though the topic and the tone are depressing, Gates insists he is hopeful for the future. For instance, he asserts that he thinks it is possible to identify the route toward advancement.
But he thinks that in order for us to succeed, we must all work harder, starting with him. In light of this, he has made the decision to give $20 billion of his personal wealth to the Bill and Melinda Gates Foundation this month in order to support him in achieving his goals, which include stopping pandemics, lowering infant mortality, eradicating diseases, enhancing food security and preparing for climate change, achieving gender equality, and enhancing educational outcomes.
“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 explained.
“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.”
Gates plans to donate “virtually” all of his wealth
The Bill and Melinda Gates Foundation’s decision by Bill Gates is likely to relieve those who were concerned about its future when the Gates couple announced their divorce last year. Very few of the larger organizations devote that much money to their causes each year, so this $3 billion increase is significant. For instance, the George Soros-founded and -funded Open Society Foundations spent $1.4 billion in 2020.
One effect of the new donation is that Gates’ position among the world’s wealthiest individuals will decline. According to the Bloomberg Billionaires Index, he currently holds the fourth-place spot with a net worth of $114 billion as of July 12. According to the philanthropist, if we subtract the $20 billion that he will give to the foundation, Bill and Melinda Gates Foundation founder Gates will fall to ninth place with a fortune of $96 billion, just behind his friend Warren Buffett ($96.5 billion), who contributes half of the foundation’s assets. Bill Gates’ investment in Microsoft is a major component of his offering.
With a fortune of $214 billion, Elon Musk is the richest person in the world, followed by Jeff Bezos ($133 billion).
Gates has no intention of stopping. He declares that he will “virtually” donate his entire fortune to the foundation, which will result in his exclusion from the list of the world’s richest people. Further information is withheld, including the time and date of the transfer of the remaining portion of his wealth.
“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,” the businessman said.
Finally, Gates is urging other affluent people to 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.”