Bill Gates doubles giving to $200 billion, ‘virtually all’ his wealth
The post Bill Gates doubles giving to $200 billion, ‘virtually all’ his wealth appeared on BitcoinEthereumNews.com. Bill Gates arrives for a press conference to launch the Global Polio Eradication Initiative at the European Commission’s Berlaymont headquarters in Brussels on October 11, 2023. Simon Wohlfahrt | Afp | Getty Images Billionaire Bill Gates announced on Thursday that he will double his charitable giving to $200 billion over the next 20 years. In a blog post, the Microsoft co-founder wrote that he was motivated by the many challenges facing the world, such as children’s health and climate change, as well as the late Andrew Carnegie’s admonishment of wealth hoarding. “People will say a lot of things about me when I die, but I am determined that ‘he died rich’ will not be one of them,” Gates wrote. “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.” Gates is currently the world’s fifth richest person with a $168 billion fortune, according to the Bloomberg Billionaires Index. The $200 billion commitment assumes his charitable foundation’s endowment will grow through investments. The Gates Foundation, founded by Gates and his ex-wife, Melinda French Gates, in 2000, has already given away more than $100 billion. After Bill Gates has given away “virtually all” of his wealth, the foundation will close at the end of 2045, he said. Gates is one of few billionaires to publicly step up their charitable giving as nonprofits and universities reel from federal funding cuts. Despite his increase in giving, he said philanthropists cannot cover the multibillion-dollar foreign aid cuts by the U.S. and other wealthy countries. “The United States, United Kingdom, France, and other countries around the world are cutting their aid budgets by tens of billions of dollars. And no philanthropic organization—even one the size of the Gates Foundation—can make up the gulf in funding…
The post Bill Gates doubles giving to $200 billion, ‘virtually all’ his wealth appeared on BitcoinEthereumNews.com.
Bill Gates arrives for a press conference to launch the Global Polio Eradication Initiative at the European Commission’s Berlaymont headquarters in Brussels on October 11, 2023. Simon Wohlfahrt | Afp | Getty Images Billionaire Bill Gates announced on Thursday that he will double his charitable giving to $200 billion over the next 20 years. In a blog post, the Microsoft co-founder wrote that he was motivated by the many challenges facing the world, such as children’s health and climate change, as well as the late Andrew Carnegie’s admonishment of wealth hoarding. “People will say a lot of things about me when I die, but I am determined that ‘he died rich’ will not be one of them,” Gates wrote. “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.” Gates is currently the world’s fifth richest person with a $168 billion fortune, according to the Bloomberg Billionaires Index. The $200 billion commitment assumes his charitable foundation’s endowment will grow through investments. The Gates Foundation, founded by Gates and his ex-wife, Melinda French Gates, in 2000, has already given away more than $100 billion. After Bill Gates has given away “virtually all” of his wealth, the foundation will close at the end of 2045, he said. Gates is one of few billionaires to publicly step up their charitable giving as nonprofits and universities reel from federal funding cuts. Despite his increase in giving, he said philanthropists cannot cover the multibillion-dollar foreign aid cuts by the U.S. and other wealthy countries. “The United States, United Kingdom, France, and other countries around the world are cutting their aid budgets by tens of billions of dollars. And no philanthropic organization—even one the size of the Gates Foundation—can make up the gulf in funding…
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