According to CNN, it’s now clear that Microsoft co-founder Bill Gates will donate an additional $100 billion to the Gates Foundation, which is now celebrating its 25th anniversary. Bill Gates intends to donate most of his fortune to the Gates Foundation in the coming years, with the explicit goal of not wanting to die a rich man.
“People will say a lot of things about me when I die, but I am determined that ‘he died rich’ will not be one of them,” said Gates. “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”
The plan is to distribute up to 99% of his total net worth by December 31st, 2045, which is when the Gates Foundation will be closed down. The total amount given away through the Foundation is expected to be around $200 billion over the next 20 years when you include his personal wealth, the Foundation’s existing endowment, and earnings from ongoing business investments. That money will be spent on various charitable projects around the world.
On Bloomberg’s list of the world’s richest billionaires, Bill Gates currently ranks in 5th place with an estimated net worth of $108 billion.