What Is Bill Gates’ Net Worth? Microsoft Founder Donates $20B To His Own Foundation

Bill Gates has donated $20 billion to the Bill & Melinda Gates Foundation as part of an effort to increase its spending to $9 billion a year by 2026.

Gates, who is the fourth richest person in the world with a net worth of $114 billion, according to the Bloomberg Billionaires Index, made the announcement on his blog, Gates Notes, on Wednesday.

He said in multiple Twitter posts that same day, “The pandemic is one of the biggest setbacks in history. The war on Ukraine is a gigantic tragedy for the entire world. The damage from climate change is already worse than most models predicted. The U.S. has taken a huge step backwards for gender equality and women’s health.

“But I’m still optimistic. These setbacks are happening in the context of two decades’ worth of historic progress and I believe it is possible to mitigate the damage and get back to the progress the world was making.”

Gates’ $20 billion gift adds to a $15 billion joint commitment made with his now ex-wife Melinda French Gates in the summer of 2021 and Warren Buffett’s $3.1 billion annual gift made in June, bringing the foundation’s total endowment to about $70 billion.

“Despite huge global setbacks in the past few years, I see incredible heroism and sacrifice all over the world and I believe progress is possible. But the great crises of our time require all of us to do more,” Gates said in a statement on the foundation’s website.

“This is why I am raising my giving to the Gates Foundation, helping to increase payout to $9 billion every year. I hope by giving more, we can mitigate some of the suffering people are facing right now and help fulfill the foundation’s vision to give every person the chance to live a healthy and productive life.”

The Bill & Melinda Gates Foundation was founded in 2000 and has become recognized as one of the wealthiest philanthropic organizations in the world, spending $79.2 billion since its inception.

As one of the wealthiest people in the world, Gates said on Twitter that he plans to give “virtually all of my wealth to the foundation,” moving him down and eventually off the list of the world’s richest people.

“I have an obligation to return my resources to society in ways that have the greatest impact for reducing suffering and improving lives. And I hope others in positions of great wealth and privilege will step up in this moment too,” he added.