One of the world’s richest person, Bill Gates, will be dropping off the list of the wealthiest people. The ex-Microsoft chairman and CEO is planning to give away all of his wealth to his own Bill & Melinda Gates Foundation, the second largest charitable foundation in the world.

Gates is currently the sixth richest person in the world, trailing behind Gautam Adani, Jeff Bezos, Bernard Arnault, and Elon Musk. Gates’ net worth is somewhere around $103 billion, while Tesla CEO, Elon Musk, who is the richest man in the world, is worth $230 billion.

“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,” Gates tweeted. In a series of tweets, Gates looked at the setbacks caused by the COVID-19, the Russian invasion of Ukraine and other catastrophic events.

“I have an obligation to return my resources to society in ways that have the greatest impact for reducing suffering and improving lives. And I hope others in positions of great wealth and privilege will step up in this moment too,” he added.

Contents hide
1. The Facts of the Matter
2. Bill Gates Makes Shocking Announcement
3. Setbacks World Suffered Due to COVID-19
4. Talking About Bill & Melinda Gates Foundation
5. “Have obligation to return..”

The Facts of the Matter

For years, Bill Gates was ranked as the world’s richest person. As new business magnates such as Jeff Bezos and Elon Musk, emerged, Gates’ position on the world’s richest persons list changed. Despite that, thanks to prolific investments and asset management, Gates continues to remain as one of the richest persons in the world.

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Bill Gates Makes Shocking Announcement

That may not be for long. Recently, the ex-Microsoft CEO announced that he will virtually be giving away all of his wealth, and will drop in the list of the world’s wealthiest people.

“As I look to the future, my plan is to give all my wealth to the foundation other than what I spend on myself and my family,” Gates announcement read on his blog.

Setbacks World Suffered Due to COVID-19

In a series of tweets, Bill Gates looked behind at the setbacks the world endured in the past few years, mainly due to COVID-19 pandemic “Several huge global setbacks over the past few years have left many people discouraged and wondering whether the world is destined to get worse,” his tweet read.

“The pandemic is one of the biggest setbacks in history. The war on Ukraine is a gigantic tragedy for the entire world. The damage from climate change is already worse than most models predicted. The U.S. has taken a huge step backwards for gender equality and women’s health,” a second tweet further read.

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Talking About Bill & Melinda Gates Foundation

In the subsequent tweets, Gates wrote about Bill & Melinda Gates Foundation, a privately owned research and philanthropic foundation that was founded by Bill Gates and his wife Melinda. Although he couple separated earlier last year, Gates will continue to do more philanthropic work with the help of the foundation.

In one of his tweets, Gates noted that although the foundation bears his and his former wife’s name, over half of its resources comes from Warren Buffet.

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“Have obligation to return..”

In the penultimate tweet, Gates noted that as he looks to the future, he plans to give away virtually all of his wealth to the foundation. “I have an obligation to return my resources to society in ways that have the greatest impact for reducing suffering and improving lives. And I hope others in positions of great wealth and privilege will step up in this moment too,” he added.

 

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