{"id":1149364,"date":"2022-07-14T19:12:39","date_gmt":"2022-07-14T19:12:39","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/07\/14\/bill-gates-to-go-off-worlds-rich-list\/"},"modified":"2022-07-14T19:12:39","modified_gmt":"2022-07-14T19:12:39","slug":"bill-gates-to-go-off-worlds-rich-list","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/07\/14\/bill-gates-to-go-off-worlds-rich-list\/","title":{"rendered":"Bill Gates to go off world’s rich list"},"content":{"rendered":"

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Bill Gate \/ Credit: GETTY IMAGES<\/figcaption><\/figure>\n<\/div>\n

Billionaire Bill Gates has pledged again to give his wealth away, adding that he will eventually \u201cdrop off\u201d the world\u2019s rich list.<\/p>\n

It came as the Microsoft co-founder announced he would make a $20bn (\u00a317bn) donation to his philanthropic fund.<\/p>\n

The world\u2019s fourth richest man said he had an \u201cobligation\u201d to return his resources to society.<\/p>\n

Mr Gates first pledged to give away his wealth in 2010 but his net worth has more than doubled since then.<\/p>\n

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He is currently worth $118bn, according to Forbes magazine, but that will fall significantly after his donation in July to the Bill & Melinda Gates Foundation, the charitable fund he set up with his ex-wife in 2000.<\/p>\n

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Although the foundation bears our names, basically half our resources have come from Warren Buffett. His incredible generosity is a huge reason why the foundation has been able to be so ambitious. I can never adequately express how much I appreciate his friendship and guidance. pic.twitter.com\/at7MvJKxQv<\/a><\/p>\n

\u2014 Bill Gates (@BillGates) July 13, 2022<\/a><\/p><\/blockquote>\n

In a Twitter thread, Mr Gates said the foundation would boost its spending from $6bn a year to $9bn by 2026 due to recent \u201cglobal setbacks\u201d including the pandemic, Ukraine and the climate crisis.<\/p>\n

\u201cAs I look to the future, I plan to give virtually all of my wealth to the foundation,\u201d he said. \u201cI will move down and eventually off of the list of the world\u2019s richest people.<\/p>\n

\u201cI 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.\u201d<\/p>\n

The Gates Foundation works in countries to eradicate diseases such as Malaria, improve education and tackle poor sanitation. It was thought to be the world\u2019s second largest charitable foundation in 2020, holding $49.8bn in assets and is backed by other wealthy benefactors such as the billionaire investor Warren Buffett.<\/p>\n

Although the foundation has done good work, some have raised concerns about the ethics of a private endeavour wielding such great influence.<\/p>\n

The foundation is the largest private donor to the World Health Organization, second only to the US with its annual donation in 2018. Concerns about this became more pointed after former President Donald Trump threatened to pull US funding.<\/p>\n

Mr Gates held Forbes\u2019 title of the richest person in the world between 1995 and 2010, and again from 2013 to 2017.<\/p>\n

Amazon founder Jeff Bezos knocked him off the top spot in 2017 before Tesla chief executive Elon Musk took pole position in 2022.<\/p>\n

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