Microsoft CEO Bill Gates to be off world’s richest people list? Know what he plans to do with his wealth

Microsoft’s co-founder Bill Gates has announced plans to donate $20 billion to the charitable foundation run by him and his ex-wife Melinda French Gates.

Donation from one of the world’s richest persons will bring the foundation’s endowment to nearly $70 billion. This includes a grant of $3.1 billion from Warren Buffett in June 2022.

The Microsoft co-founder has taken this decision in consideration of the ongoing pandemic, the Russia-Ukraine war, and the changing climatic conditions.

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"The great crises of our time require all of us to do more”, he said.

Sharing his future vision, the Microsoft co-founder wrote in his personal blog, “As I look to the future, my plan is to give all my wealth to the foundation other than what I spend on myself and my family. I do some giving and investing in U.S. health care issues, including Alzheimer’s, outside the foundation.”

He said that he will continue to invest and contribute money to address climate change issues via Breakthrough Energy.

“Overall I expect that the work in these areas will make money, which will also go to the foundation. I will move down and eventually off of the list of the world’s richest people”, he added.

According to the business tycoon’s blog, the Gates Foundation has increased its overall spending from nearly $1 billion per year to $6 billion per year over the past two decades.

Besides this, Gates and his ex-wife planned upon spending another $2 billion to help with the Covid response without reducing contribution in any other important fundings.