Bill Gates took to Twitter to announce a new initiative on Wednesday, July 13. In addition to donating $20 billion of his personal funds towards the Bill & Melinda Gates Foundation, which targets poverty and disease, Gates made his biggest promise yet, writing, “As I look to the future, I plan to give virtually all of my wealth to the foundation. I will move down and eventually off of the list of the world’s richest people.”
The Microsoft co-founder continued the bold claim in a post on his blog, Gates Notes. “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,” Gates said. He continued by noting that he does work for causes outside of his own foundation, such as Alzheimer’s research and climate change, and that if he makes money off of them, he’ll also donate the profits to the Gates foundation.
It’s unknown just how much Gates regularly spends on his family, and how much money would be left over after donating “virtually all” of it. Even with several millions remaining, he could still live comfortably off the list of the world’s wealthiest. Either way, if Gates stays true to his pledge, it’s far more than what his contemporaries are doing. While he’s certainly delivered on promises of charity before, only time will tell if Gates puts his money where his mouth is.
Nicki
