The billionaire on Wednesday announced that he will donate $20 billion to the Bill and Melinda Gates Foundation to address the challenges the world is currently facing.
The foundation is set to spend $9 billion a year to fund innovation and plans that will prevent pandemic, reduce childhood deaths, achieve gender equality, tackle climate change and eradicate diseases.
“These innovations will not come in time to avoid the problems altogether, but the faster we move, the less people will suffer,” Gates said. “
For many people including myself this is the most concrete way of contributing, even when it seems modest compared to the scale of the problems. Focusing on being part of the solution is better than giving up in despair.”
Last year, Bill and Melinda Gates announced that they have divorced. As part of the dissolution, each pledged to donate $15 billion to the foundation.
“Bill and Melinda are fully committed to continuing to work constructively together at the Foundation to advance its program and policy objectives,” a spokesperson said in a statement.
Bill Gates is now ranked fourth-wealthiest person in the world with a net worth of $114 billion, on the other side, Bill Gates plans to move off the world’s richest list one day.
“My giving this money is not a sacrifice at all,” he said. “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. I hope others in positions of great wealth and privilege will step up in this moment too.”
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