Bill Gates announced on Wednesday that he will donate $20 billion to the Bill and Melinda Gates Foundation in a statement made on his website, Bill Gates said the reason for him donating this huge sum of money was to help face global challenges. “Several huge global setbacks over the past few years have left many people discouraged and wondering whether the world is destined to get worse, “ said Gates on his website and Twitter account.
Gates cited the COVID pandemic and the war in Ukraine as the two main issues around the world currently. Gates, who is the fourth wealthiest person in the world according to Bloomberg, says that he is still optimistic even in tough times brought on by the pandemic and war.
In his statement, Gates added that he is actively working to improve and innovate pandemic prevention, global health, climate mitigation, adaptation, education improvement, food costs, women’s access to health care and contraceptives, and more.
The Gates Foundation has continued to increase its money spent. Gates shared the money that his foundation has spent and is projected to spend through 2026 on his website and Twitter.
Looking into the future, Gates expects to be taken off of the list of the world’s richest people, which he topped from 1995 to 2010. “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,“ said Gates.
Gates urged others of affluence to follow his lead and share their wealth and resources to the people and causes in need.