The Microsoft co-founder, who has long been committed to giving away his excess wealth, is currently listed as the fourth-wealthiest individual in the world
• In an interview with CNN, Gates reiterated his goal to give away all his excess wealth, which he said he should be able to do in about 20 years
• The Microsoft co-founder is currently listed as the fourth-wealthiest individual in the world, with a reported net worth of $141 billion, according to Bloomberg’s Billionaire Index
• In a July 2022 blog post, the billionaire said he only plans to keep enough money for “what I spend on myself and my family"
The 68-year-old Microsoft co-founder — who has long pledged to give the majority of his wealth to address social problems — told CNN on Tuesday that he anticipated he will meet his goal in about 20 years and that he's currently giving away money at a rate of $9 billion a year.
“I have more than enough money for my own consumption,” said Gates. “I’m getting myself to go down the list, and I’ll be proud when I fall off altogether.”
Gates is currently listed as the fourth-wealthiest individual in the world with a net worth of $141 billion, according to Bloomberg’s Billionaire Index.
The tech entrepreneur, ex-wife Melinda French Gates and Warren Buffett are the creators of The Giving Pledge, which is described on its website as "an open invitation for billionaires, or those who would be if not for their giving, to publicly commit to give the majority of their wealth to philanthropy either during their lifetimes or in their wills."
His message came as the foundation revealed a new plan to increase yearly spending “from nearly $6 billion to $9 billion annually by 2026.”
“I have an obligation to return my resources to society in ways that have the greatest impact for reducing suffering and improving lives,” Gates wrote on the social media platform at the time.
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In a blog post shared that same day, Gates said he only plans to keep enough money for “what I spend on myself and my family." He also said he plans to continue investing and giving money to various causes.
"Overall I expect that the work in these areas will make money, which will also go to the foundation,” he remarked, going on to share his hope that “others in positions of great wealth and privilege will step up in this moment too.”
He previously praised Buffett, a fellow billionaire, for his contributions to the Gates Foundation.
“His incredible generosity is a huge reason why the foundation has been able to be so ambitious,” Gates said of Buffett, now 93, in his July 2022 thread on X. “I can never adequately express how much I appreciate his friendship and guidance.”
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