Blogs –Microsoft founder Bill Gates now wants to transfer his wealth to the needy. He has announced.
On Wednesday July 13, Gates said he is ready to give away his wealth to his philanthropic organization which is also managed by his ex-wife, Melinda Gates.
The Microsoft founder made it clear that he is in the process of transferring a whopping $ 20 billion to the foundation this month so that to increase its spending to $ 9 billion per year.
Asked why he had reached at the decision, the wealthy innovator responded that Covid-19 had forced him to offer more support through their Bill and Melinda Gates Foundation.
“As I look to the future, I plan to give virtually all of my wealth to the foundation,” Gates said. “I will move down and eventually off of the list of the world’s richest people,” he revealed.
He also seized the opportunity to thank his fellow billionaire, Warren Buffet, for his support to their foundation.
“His incredible generosity is a huge reason why the foundation has been able to be so ambitious,” Gates observed.
The three – Buffett, Gates, and Melinda French Gates – founded an initiative they called The Giving Pledge in 2010 as a “movement of philanthropists who commit to giving the majority of their wealth to charitable causes, either during their lifetimes or in their wills”.
According to Bloomberg Billionaire Index findings, Gates is currently worth of $114 billion.
