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Bill Gates Aims To Drop Off World Rich List

Bill Gates Aims To Drop Off World Rich List
Photo Courtesy: Wired.com

American billionaire and Microsoft Co-founder Bill Gates has promised to give away all his property again. As a result, Mr. Gates said, one day, he will be removed from the list of the world’s top rich. Recently, Bill Gates announced that he will donate 20 billion dollars to the fund of his humanitarian organization. So the world’s fourth-richest man says he must give back his wealth to society. Therefore, Bill Gates Aims To Drop Off World Rich List.

Earlier, Bill Gates had announced giving away the property in 2010. But since then, his wealth has doubled. Bill Gates’s net worth is 118 billion dollars at the moment. But after donating a hefty sum to the Bill & Melinda Gates Foundation in July, his net worth will drop significantly. Bill Gates said that the Bill and Melinda Gates Foundation will increase its annual spending from $6 billion to $9 billion considering the global situation, including the pandemic, Ukraine crisis, and climate crisis. He also said, “Thinking about the future, I have decided to give my wealth to this foundation. This way, my wealth will continue to decrease, and my name will be removed from the world’s top rich list.”

Bill Gates said on Twitter, “I must give back my wealth to society in a way that will reduce human suffering and improve the quality of life. I hope others with similar wealth will step up to the occasion.” The Gates Foundation works to eradicate diseases such as malaria, improve education, and improve sanitation in various countries. In 2020, the Gates Foundation was considered to be the second largest donor organization in the world. At that time, the company’s assets were $40.8 billion, and billionaire investors like Warren Buffett were also associated with it.

Although the Gates Foundation’s list of good deeds is long, many have questioned its ethics as an organization driven by private efforts capable of global impact. Founded by Bill and Melinda Gates, this donor organization is the largest private donor to the World Health Organization. In 2018, it was second only to the United States in terms of annual donations. But concerns over the issue became more apparent after former US President Donald Trump threatened to cut off US aid.

Bill Gates was the wealthiest man in the world from 1995 to 2010. Later, this American billionaire held this position again from 2013 to 2017. Then, Amazon founder Jeff Bezos overtook Gates in 2017, and Tesla CEO Elon Musk became the world’s richest man in 2022.

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