Billionaire businessman and Microsoft founder Bill Gates announced on Wednesday that he will donate $20 billion to the Bill & Melinda Gates Foundation and plans to give nearly all of his money to the foundation
WASHINGTON (Pakistan Point News / Sputnik - 13th July, 2022) Billionaire businessman and microsoft founder Bill Gates announced on Wednesday that he will donate $20 billion to the Bill & Melinda Gates Foundation and plans to give nearly all of his money to the foundation.
"With the support and guidance of our board, we plan to increase our spending from nearly $6 billion per year today to $9 billion per year by 2026. To help make this spending increase possible, I am transferring $20 billion to the foundation's endowment this month," he said.
"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 said.
In May 2021, Bill and Melinda Gates announced their decision to end their marriage. The media reported in April that the two had officially divorced. It has also been reported that Melinda Gates could step down as trustee of the foundation in two years if she is unable to work alongside her former husband.