Skip to main content

BILL GATES NO LONGER AMONG THE RICHEST, FOLLOWING PLEDGE OF WEALTH TO FOUNDATION

 

Bill Gates drops off rich list as he pledges all wealth to foundation

Bill Gates

Bill Gates

Microsoft co-founder Bill Gates, who has long sat at the top or near the top of the list of the wealthiest persons on the planet, said he will donate all his wealth to his foundation.

In the interim, he has donated $20 billion so he can drop off the elite roll. At present Gates is worth $122.4 billion.

Gates, who founded the Bill and Melinda Gates Foundation in 2000 with his ex-wife, said the donation will allow the organization to increase its giving from from $6 billion per year to $9 billion.

The tech titan said the COVID-19 pandemic and Russia’s invasion of Ukraine helped spur his decision to increase the foundation’s spending.

“With the support and guidance of our board, the Gates Foundation intends to increase spending from nearly $6 billion per year before COVID to $9 billion per year by 2026,” Gates said in his blog on Wednesday.

“Our focus will remain the same — but at this moment of great need and opportunity, this spending will allow us to accelerate progress by investing more deeply in the areas where we are already working. To help make this spending increase possible, I am transferring $20 billion to the foundation’s endowment this month.”

Gates said other than what he spends personally on himself and his family, he plans to give his entire wealth to the foundation.

“I will move down and eventually off the list of the world’s richest people,” Gates said.

“My giving this money is not a sacrifice at all. I feel privileged to be involved in tackling these great challenges, I enjoy the work, and I believe I have an obligation to return my resources to society in ways that have the greatest impact for improving lives.”

He said billionaire investor Warren Buffett continues to inspire him in investment and giving. He said Buffett has been the biggest contributor to his foundation.

“Warren’s advice and thinking influenced the foundation in a profound way even before he made any gifts,” Gates said. “Warren, I can never adequately express how much I appreciate your friendship and guidance as well as your generosity.




Comments

Post a Comment

Popular posts from this blog

$100 MILLION STOLEN BY HACKERS IN CRYPTO HEIST

  Hackers steal nearly $100m in Japan crypto heist IMAGE SOURCE, Liquid has been hit by hackers, with almost $100m (£73m) estimated to have been stolen. Leading Japanese cryptocurrency exchange Liquid has been hit by hackers, with almost $100m (£73m) estimated to have been stolen.  The company announced that some of its digital currency wallets have been "compromised." It is the second major theft of cryptocurrencies to take place in recent days.                 Last week, digital token platform Poly Network was at the centre of a $600m heist. "WE ARE SORRY TO ANNOUNCE THAT #LIQUIDGLOBAL WARM WALLETS WERE COMPROMISED, WE ARE MOVING ASSETS INTO THE COLD WALLET," THE COMPANY SAID ON TWITTER. So-called 'warm' or 'hot' digital wallets are usually based online and designed to allow users to access their cryptocurrencies more easily, while 'cold' wallets are offline and harder to access and therefore usually more secure.                            
Post a Comment
Read more

Countries Accepting Nigerians Seeking Second Citizenship

  Countries Accepting Nigerians Seeking Second Citizenship Nigerians are able to access the following citizenship and immigration programs: The Caribbean Second Citizenship Programs, Caribbean nations like St. Kitts & Nevis, St. Lucia and Grenada offer second citizenship through their respective Citizenship-by-Investment programs. A holder of one of these passports may travel visa free to about 135 countries, including all European Union countries, the UK, Russia, Turkey, Singapore and Hong Kong. Holding a citizenship from one of these respected countries may also make it easier to obtain residency status or study in other countries, and allows political security and makes it easier to open bank accounts in foreign jurisdictions. To qualify, an applicant needs to be of good reputation and make a government donation of at least $100,000 USD after approval of their citizenship application.  Approval of a Citizenship-by-Investment application normally takes about 3 months, and all de
3 comments
Read more

ACTRESS SENTENCED TO SIX MONTHS IN ISLAMIC SCHOOL

    Sharia Court Sentences Kannywood Actress To Six Months In Islamic School The actress, Sadiya Haruna was handed the sentence on charges of “indecent social media postings.” Credit: Instagram | Sadiya Haruna The actress, Haruna, a resident of Kabuga Quarters was initially arrested on Friday by the Head of Surveillance Department of Kano State Hisbah Board, Malam Aliyu Usman. She was then detained in the custody of the Islamic police until early Monday when she was brought before the Sharia court sitting in Sharada area of the state. According to the First Information Report (FIR) filed against her, she was alleged to have consistently posted indecent videos in which she was dancing seductively and making sexual comments on her social media handles and YouTube channel. The accused person pleaded guilty to a one-count charge of obscenity and indecent act, which contradicts section 355 of Penal Code Law 2000. The presiding judge, Justice Ali Jibril Danzaki thereafter convicted her a
1 comment
Read more