Bill Gates is the Harvard drop out, computer geek who has become one of the richest men in the world due to his founding of the company, Microsoft. For years, Bill Gates has been ranking in the top position of richest man in the world, with a net worth of $90 billion, as of recent. However, as of this morning, Gates has fallen down below another rising star in the world of net worth’s, Jeff Bezos, CEO of Amazon. Gates has not only demonstrated his intelligence in starting up and running a very successful business, but he has also demonstrated that he has an enormous for helping others. He is one of the most generous and well-known philanthropists globally. He and his wife, Melinda, have spent decades creating charities that have helped millions of people, and they are funded with his own money. One of the reasons Gates’ net worth has dropped is due to the amount of money he gives away in the effort to better peoples’ lives. If you have ever wondered how much Gates gives away and where he’s giving it, here are some of the facts behind the mega-billionaire’s wealth and money giveaways.
Bill Gates once told his teacher that he would be a millionaire by the time he was 30. He would be wrong; he was a billionaire at the age of 31. Since then, his wealth has only grown, and it grew to astronomical figures that the average person just cannot fathom. But Gates isn’t one to just sit back and live lavishly while the rest of the world suffers with so many issues; from sickness and diseases that can be cured, lack of education and supplies to aid in educating children, hunger and many more world wide problems that could be rectified, if only they had money.
The Bill and Melinda Gates Foundation
Bill and Melinda Gates, Bill’s wife since 1994, have set up a the Bill and Melinda Gates Foundation in the hopes of extending the lives of so many others that are much less fortunate in this life. Bill has been interviewed many times, saying that the money he has really means nothing to him after a certain point – it serves no utilitarian purpose. He believes the wealth he was so blessed to get in his life, is better served if used to help others that have little to nothing, hence the foundation he and his wife started. They were focused on the poorest in the world, and for them, it meant vaccinations for the people of the countries that were riddled with curable diseases if they only had access to medical care and vaccinations to eradicate these diseases, one of the biggest being Polio. He feels that once Polio is gone, they can move on to other diseases, such as Malaria and measles.
How much money has Bill Gates given away?
Gates spends a lot of his time now, running the foundation with his wife, Melinda, working part time and Microsoft, and they have already given away about $35 billion to fight poverty, disease and hunger through their charity. Gates has been quoted during an interview, as saying. “The vast majority of the wealth, over 95 per cent, goes to the foundation, which will spend all that money within 20 years after neither of us are around any more.”
Other areas of philanthropy Gates has a strong pull towards, is education. He understands how important computers are in today’s world and in education. Kids (even adults) can hardly live or keep up with the demands of the education system without one. He has said that he hopes to have a computer in every child’s home globally, to help with the education process. In the same arena, he has also pledged over $1.3 million to the Microsoft Business Program, which helps young people start up their own businesses.
Some of the projects Gates’ money from his foundation is going to include:
- Making a better, healthier banana. There is an effort to add vitamin A and Iron to bananas for better health to countries, such as Uganda, to give better nutrition for those who lack in these nutrients.
- Eradicating Polio is a problem dear to Gates’ heart. He wants to rid countries of this disease and then move forward with other diseases, such as malaria and measles. These are easy to control with proper vaccinations and he wants to see them knocked out globally.
- The professor of Columbia Engineering received $1.5 million dollars in grant money to work on turning fecal matter into something useful, biodiesel fuel.
- More money has been given for research on how to make Cassava tubers a healthier food and rid them of cyanide for those who eat these, around the world.
- $2 billion has been donated in charitable funds, for the research, and work for a cure for HIV (Aides). People are still dying from this disease and it is another one Gates would love to see wiped out for good.
- $1.5 billion has been given for women and children’s needs. They need help with health issues, and his money will go a long way to help women and children start to live healthier lives, from birth, infantry, childhood and into adulthood to go through childbirth themselves.
- Money has been given for the effort of dealing with mosquitoes and yes, vaccinating them before they get too dangerous. The vaccination would kill the mosquitoes who would could potentially go on to harm humans.
It has been said that Gates plans to give away $60 billion over time, the majority of his net worth. The Gates’ together, have already determined that they don’t have any plans to leave all this net worth to their four children, three girls and a son. They feel that the biggest benefits of their wealth, of which he credits him getting, to God, would be the world, and more specifically, those in the world who have little to nothing. They are underprivileged and need help thriving, let alone living comfortably and healthfully.
Getting other billionaires onboard
Gates does not believe he should stand alone in his philanthropy work to change the world and believes other billionaires should join in and vow to donate half of their wealth for good cause and to help those in need. He has enlisted the help of Warren Buffet, who is a big supporter of his charity and has donated billions to Gates’ causes over the years, as well as other billionaires. Here are some of the billionaires who plan to pledge large amounts of their wealth to charity over their lifetime: Real estate and construction billionaire Eli Broad, media entrepreneur Gerry Lenfest, capitalist John Doerr, and former Cisco Systems (CSCO.O) Chairman John Morgridge.
The people who can afford to make the biggest difference in our world, are our wealthy, millionaires and billionaires. The more of them that get onboard and start donating to causes that will change our world, the quicker we can start to see the impact we are having around our world.