Bill Gates Donates $20 Billion To Stem Significant Suffering

Abdul Ghani

By the time he dies, Bill Gates plans to donate most of his wealth to his own foundation. That's about $118 billion. Microsoft founder and billionaire Bill Gates wants to donate all but a small part of his fortune to the non-profit organization Bill and Melinda Gates Foundation. He writes that in a blog post, in which he also addresses the current world situation during a global pandemic and the Ukraine war. "My plan is to give all my wealth to the Foundation - apart from the money I need for myself and my family."

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Melinda French and Bill Gates - World Economic Forum Annual Meeting Davos 2010.Image by World Economic Forum From Flickr

Gates' wealth is currently around $119 billion, according to Celebrity Net Worth. He wants to transfer 20 billion of it to the Foundation this month. Goal: Increase the organization's annual spending from $6 billion annually to $9 billion annually. The Bill and Melinda Gates Foundation uses the money to invest in various projects that are intended to help the general public - at least that is the goal it has set itself.

Thanks to Warren Buffett

Gates states that by 2026, approximately $41.4 billion will be spent on charitable projects since the foundation's inception in 2000. That's an average of $1.6 billion annually. The Bill and Melinda Gates Foundation is therefore considered one of the largest organizations of its kind.

In the blog post, Gates gives a special thanks to Warren Buffett. The major US investor has donated a total of US$35.7 billion to the Foundation to date, including a recent donation of US$3.2 billion. This makes him the second largest donor after Bill and Melinda Gates. "I hope that others in positions of great wealth and privilege will do the same at this time.", writes Gates.

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Member Of Freelancers Union (USA), Freelance Writer!, and Digital Creator. Ghani Mengal is an enthusiast Freelance blogger and digital marketer. His content has been published and featured on many popular blogs, websites, and publications. Including TeelFeed, LifeHack.org, Data-Driven Investor, TextSniper, Scientific Publication The Predict, The Startup, The Ascent, Heart Affairs, Illumination, And The List goes on.

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