When Bill and Melinda French Gates founded Gates Foundation in 2000, they planned that the organization would continue their work, using their remaining property, for several decades after their death. But now the billionaire, the founder of Microsoft, says that he does not want to wait so long to give out most of his assets – writes CNN.
Gates announced on Thursday that he plans to distribute “virtually all” his property – it is estimated that around $ 200 billion. – In the next 20 years, before closing the Foundation on December 31, 2045.
This statement appears at the time when the administration of President Donald Trump is working on the cuts of financing healthcare, foreign assistance and other public aid programs – matters supported by the Gates Foundation – which raises concerns about suspending progress in research and other key projects – writes CNN.
Gates wants to speed up the foundation's work on, among others global health initiatives and hopes that this movement will become a model for other billionaires, he said in a blog post published on Thursday morning.
Bill Gates: I won't die rich
Gates together with his ex -wife Melinda French Gates and Warren Buffett initiated Giving Pivers in 2010 to encourage wealthy people to transfer most of their assets for charity, whether in life or in a will. Currently, over 240 people have signed them.
“People will talk about me a lot of things when I die, but I am determined that he” dies rich “to be one of them,” wrote Gates, who will be 70 years old this year. “There are too many urgent problems to solve, so that I can keep resources that could be used to help people.”
What is Bill Gates's property?
The Gates Foundation, one of the largest philanthropic organizations in the world, has already donated over $ 100 billion. From the moment of establishing, including the development of new vaccines, diagnostic tools and treatment mechanisms to combat diseases around the world.
Over the next 20 years, the Gates Foundation will focus on three main goals: eliminating deaths of mothers and children who can be prevented, eliminating fatal infectious diseases and the release of hundreds of millions of people around the world from poverty.
The current net value of Gates's assets is $ 108 billion, which according to Bloomberg Billionaires Index classifies him as the fifth richest person in the world. Now Gates announced that its net value will fall by 99 poc. Up to 2045.
$ 200 billion, which he intends to distribute through the Foundation over the next 20 years, will come from its existing trust fund worth $ 77 billion. and his personal property, including all profits from current business investments.
French Gates left the Gates Foundation last year after the loud divorce of the couple in 2021. In 2022, she said that she did not intend to transfer most of her property through the Gates Foundation.
Source: CNN
