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Bill Gates says he will be giving away all of his wealth

Microsoft founder Bill Gates will be giving his money away and, as a result, will drop down from the world's richest people list.

@JakConnorTT
Published Jul 14, 2022 5:22 AM CDT   |   Updated Sun, Aug 7 2022 5:56 AM CDT

Bill Gates has announced in a Twitter thread that he will be giving away all of his wealth and that he will drop off the world's richest people list.

Gates explained in a long Twitter thread that he believes many are viewing the world as a place that is growing progressively worse, and to reduce the pace of the worsening/mitigate its impact, Gates will be increasing the spending for the Bill and Melinda Gates Foundation.

The Microsoft founder says that the foundation was created in 2000 with his now ex-wife Melinda Gates and that the board has agreed to increase the foundation spending from nearly $6 billion a year to $9 billion by 2026.

To make this ambitious target possible, Gates said, "I am transferring $20 billion to the foundation's endowment this month". Notably, Gates provided a graphic that displays how many resources the foundations has available and where they have come from.

Gates says that despite the foundation bearing the "Gates" name, half of its resources have come from billionaire investor Warren Buffet. Lastly, Gates said that as he looks to future, he sees himself donating virtually all of his wealth to the foundation, as he believes he has an obligation to give back his resources to society.

Bill Gates says he will be giving away all of his wealth 25 | TweakTown.com
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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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