Over the next 20 years, American tech tycoon Bill Gates intends to donate all of his riches.
In an article posted on his website on Thursday, the Microsoft pioneer, whose estimated net worth is $108 billion, described his intentions in what he called the last chapter of his career.
Gates revealed that his two-decade donation plan would be used to save and enhance lives globally.
“When Melinda and I started the Gates Foundation in 2000, we included a clause in the foundation’s very first charter: The organisation would sunset several decades after our deaths.
“A few years ago, I began to rethink that approach.
“More recently, with the input from our board, I now believe we can achieve the foundation’s goals on a shorter timeline, especially if we double down on key investments and provide more certainty to our partners,” Gates said.
“The exact amount will depend on the markets and inflation, but I expect the foundation will spend more than $200 billion between now and 2045. This figure includes the balance of the endowment and my future contributions.
“Today’s announcement almost certainly marks the beginning of the last chapter of my career, and I’m okay with that.
“I have come a long way since I was just a kid starting a software company with my friend from middle school.
“As Microsoft turns 50 years old, it feels right that I celebrate the milestone by committing to give away the resources I earned through the company,” he added.
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Rose Ajieh