Bill Gates plans to give away almost all of his wealth by 2045, the year his foundation is set to shut down. He wants to donate 99% of his assets over the next 20 years, and maybe even more if possible.
Gates, 69, has already given away over $100 billion to health and development projects through his foundation. He expects to donate another $200 billion, depending on market conditions and inflation.
He cited a book by Andrew Carnegie, “The Gospel of Wealth,” which says that rich people have a duty to give back to society. Carnegie wrote, “A man who dies rich dies disgraced.”
Gates and his ex-wife Melinda initially planned for the Gates Foundation to keep operating for decades after they died. But now, Gates says it will close in 2045.
Giving Away Wealth
Gates told BBC that in 20 years, there will be other wealthy people who can handle future problems. “It’s a matter of urgency,” he said. “We can give more if we don’t try to make it last.”
- Gates’ current net worth is over $108 billion.
- He plans to give away most of it by 2045.
- His foundation has already donated over $100 billion.
Even if Gates gives away 99% of his wealth, he’ll still be a billionaire, according to Bloomberg.
Gates’ decision is reflected in his post, where he said, “People will say all sorts of things about me when I’m dead, but ‘He died with a fortune’ won’t be one of them.”
The source of this information is bbc.