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Bill Gates, who plans to give away most of his fortune, shares take on Mark Zuckerberg’s money plans
Microsoft co-founder Bill Gates announced that he plans to give away 99% of his fortune through his foundation over the next 20 years.
Bill Gates, who announced that he would give 99% of his wealth via the Gates Foundation, recently spoke about Mark Zuckerberg’s plans for his fortune in a recent interview with Fortune. The philanthropist billionaire said that the Meta CEO is “off to a very good start,” mentioning how he plans to “give over 90% of his wealth.”
“There are exemplars, like Mark Zuckerberg, through the Chan-Zuckerberg Initiative is committed to give over 90% of his wealth, and he’s off to a very good start,” Bill Gates says while discussing about young entrepreneurs and philanthropy.
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“He’s someone I talk to about a lot of things, including philanthropy,” Gates said. “There are dozens and dozens of tech entrepreneurs in the Giving Pledge doing amazing giving,” he continued.
Giving Pledge is a charitable campaign that encourages the world's wealthiest individuals and families to contribute to philanthropic causes.
Bill Gates on his wealth:
In an announcement on Gates Notes, the tech mogul wrote, “I will give away virtually all my wealth through the Gates Foundation over the next 20 years to the cause of saving and improving lives around the world. And on December 31, 2045, the foundation will close its doors permanently.”
Reason behind Bill Gates' decision:
“This is a change from our original plans. When Melinda and I started the Gates Foundation in 2000, we included a clause in the foundation’s very first charter: The organization 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,” Bill Gates explained.
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He added that the decision came to him at a “moment of reflection”. He continued that 2025 marked several important milestones in his life, including the foundation turning 25, Microsoft turning 50, and himself turning 70. He also talked about his father turning 100, adding that he is the one who helped Gates start the foundation.
