Bill Gates, the renowned co-founder of Microsoft and the Gates Foundation, has kept his position as
list of the globe’s richest individuals
For many years now. Nevertheless, the individual, who is 69 years old, does not wish to pass away with substantial wealth.
“People will say a lot of things about me when I die, but I am determined that ‘he died rich’ will not be one of them,” said Gates in a letter posted this week. “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”
In the letter
Gates disclosed his desire for the Gates Foundation to allocate $200 billion over the coming two decades. Inspired by another affluent philanthropist, Andrew Carnegie, who wrote “The Gospel of Wealth” in 1889—a piece advocating that prosperous individuals should return their wealth to benefit societal needs—he emphasized this point.
In one of the essay’s most renowned lines, Carnegie asserts that ‘to die wealthy under such circumstances is to die dishonored.’ Recently, this quotation has been much on my mind,” stated Gates. This statement motivated him to accelerate his charitable contributions beyond what he had originally intended—specifically, “almost everything” he possesses. Furthermore, he intends for the Gates Foundation to cease operations indefinitely as of December 31, 2045.
In 2000, Gates launched the foundation alongside his former spouse, Melinda French Gates. They envisioned at that time that the organization would cease operations some years following both of their passing. From the outset, the foundation has distributed over $100 billion.
After the couple divorced in 2021, Melinda stayed on for a short time but then resigned last May. She has embarked on her own philanthropic projects and
People magazine recently reported
It was observed that she was seen holding hands with entrepreneur Philip Vaughn. Gates has publicly begun a relationship with Paula Hurd, who is the widow of ex-Oracle CEO Mark Hurd.
During an earlier-year interview,
Gates admitted that the dissolution of his marriage was the “error” he most laments.
He additionally addressed how the world has transformed after the COVID-19 pandemic, shifting from an environment where everyone collaborates to find solutions, to one dominated by self-interest.
With guidance from our board, I am confident that we can meet the foundation’s objectives within a reduced timeframe, particularly by intensifying focus on critical areas and offering greater stability to our collaborators,” stated Gates in his recent letter. He mentioned that the updated $200 billion total encompasses the remainder of the endowment as well as his upcoming donations.
Gates pointed out that the timing of this decision coincides with several significant celebrations for him, including what would have been his father’s centennial birthday.
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On Henry Gates’ birthday, he passed away at the age of 94, the 50th.
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Microsoft’s anniversary along with his personal 70th birthday
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On his birthday, he acknowledged that he is at an age when many people have already retired, Gates confessed.
“I admire those who choose to dedicate their days to playing pickleball, but that lifestyle doesn’t suit me—especially not as a full-time endeavor. It’s fortunate that each morning I find myself excited about going to work. As long as possible, I eagerly anticipate filling my schedule with strategic discussions, partner meetings, and educational excursions,” he stated.
In addition to that aspiration, Gates mentioned he aims to ensure future generations are left in a better position and more equipped for what lies ahead.
“Through speeding up our contributions, I aim to set the world on course for eliminating avoidable fatalities among mothers and infants and elevating countless individuals above the poverty line,” he stated additionally. The profits derived from Gates’ stakes in energy advancements and research into Alzheimer’s disease are anticipated to be directed towards his foundation as well, according to the multi-billionaire himself.
As stated in a press release from the Gates Foundation issued on Thursday
The expedited schedule highlighted by Gates was confirmed by the foundation’s governing board through an amendment to the organization’s charter, originally stating that it would conclude operations twenty years following Gates’ passing. Additionally, because “the committed funding surpasses the present endowment of the foundation,” the remaining amount required will be sourced from “Gates’ individual wealth.”
Although the announcement mentioned that the Gates Foundation has helped save 82 million lives by supporting organizations like Gavi, the Vaccine Alliance, and the Global Fund to combat HIV/AIDS, tuberculosis, and malaria, it emphasized that additional funding is now more crucial than ever.
This statement was made as several years have shown either stagnated improvements or even regressions in various global health indicators,” it noted. “Many governments worldwide have declared reductions amounting to tens of billions of dollars in assistance funds, which could lead to severe repercussions for the most impoverished populations globally.
The key sectors anticipated to gain from the Gates Foundation’s expedited schedule include: avenues for advancement for American students; digital public infrastructure that links individuals with financial and social services, promoting equitable economic growth and transparent, competitive marketplaces; innovative applications of artificial intelligence; and initiatives towards gender equality.
