Liberal Microsoft co-founder Bill Gates, currently listed as the fourth-richest person in the world, plans to erase his name from that list. Gates said Wednesday in a Twitter thread that he plans to donate nearly all his wealth to the Bill and Melinda Gates Foundation’s endowment.
He began this with his ex-wife Melinda two decades ago. It is the world’s largest private charitable organization and puts more funds into global health annually than the World Health Organization.
Forbes estimates his net worth to be $118 billion, and he is the largest private landowner in the U.S. with over 260,000 acres in many states. And, as many conservatives recognize, Gates has used his billions to put a liberal stamp on the U.S. education system. Remember Common Core?
Now he wants to expand his footprint dramatically.
Gates’ first step is to donate $20 billion to the foundation to tackle what he called “huge global setbacks.” These included pandemic prevention and treatments, childhood deaths, diseases, and of course climate change and gender equality.
The billionaire said he has an “obligation” to put resources back into society.
Bill and Melinda Gates divorced last year, and each donated $15 billion to their foundation. Their agreement is to work together on the charity for two years, and at that point Melinda Gates has the option of a payout that would leave her ex-husband as the foundation’s head.
Until now, nearly half the foundation’s contributions have come from billionaire investor Warren Buffett.
The Bill and Melinda Gates Foundation made payouts of almost $6 billion per year before the pandemic. The group has a goal of increasing its giving by 50% annually to roughly $9 billion.
Gates said his ultimate plan is to move off the list of richest persons as he gives more money to the foundation. He said giving is “not a sacrifice at all,” but rather a “privilege.”
That’s all admirable, and fighting disease is unquestionably a worthy cause. But this is also a philanthropist who criticized “distrust in institutions” during the pandemic, mocking those who dared to ask serious questions. It bears watching how many hidden strings are attached to all this “charity.”