Bill Gates Plans To Give His Wealth To His Foundation To Address ‘Global Challenges’

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Gates is dropping off the world's rich list to 'help mankind'

Bill Gates

Billionaire Bill Gates has announced that he plans to give nearly all of his wealth to his foundation to address the “huge global setbacks” facing the world.

The pandemic and vaccine ‘expert’ made his announcement on Wednesday in a twitter thread that doesn’t allow replies.

He said he plans to transfer $20 billion to the Bill and Melinda Gates foundation’s endowment this month to help increase its spending from $6 billion to $9 billion a year by 2026 to help prevent pandemics, reduce child mortality, and halt climate change.

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He said: “As I look to the future, I plan to give virtually all of my wealth to the foundation……I will move down and eventually off of the list of the world’s richest people.”

So Bill Gates is dropping off the world’s rich list in order to help mankind

News.com.au reports: Mr Gates said the pandemic and the invasion of Ukraine were just two examples of the huge global setbacks in the past few years that have caused “significant suffering”.

“But the great crises of our time require all of us to do more,” he said. “I hope by giving more, we can mitigate some of the suffering people are facing right now and help fulfil the foundation’s vision to give every person the chance to live a healthy and productive life,” he said in a statement.

His ex-wife, Melinda French Gates, who runs the charity with Mr Gates, said: “Philanthropy has a unique role to play in helping people around the world recover from the pandemic and rebuild the underlying systems that left so many so vulnerable to begin with.”

Mr Gates listed the key innovation areas in his blog that were a focus for the Bill & Melinda Gates Foundation and Breakthrough Energy – which he founded in 2015 with a coalition of private investors to support innovations that will lead the world to net-zero emissions.

They included preventing pandemics, reducing childhood deaths, eradicating diseases, improving food security and climate adaptation, achieving gender equality, improving educational outcomes, and mitigating climate change.