Bill Gates to donate entirety of his wealth (1 Viewer)

[Allan]

According to Forbes Bill Gates' net worth is 112.5 billion. He's giving it all away over the next 20 years.

When I first began thinking about how to give away my wealth, I did what I always do when I start a new project: I read a lot of books. I read books about great philanthropists and their foundations to inform my decisions about how exactly to give back. And I read books about global health to help me better understand the problems I wanted to solve.

One of the best things I read was an 1889 essay by Andrew Carnegie called The Gospel of Wealth. It makes the case that the wealthy have a responsibility to return their resources to society, a radical idea at the time that laid the groundwork for philanthropy as we know it today.

In the essay’s most famous line, Carnegie argues that “the man who dies thus rich dies disgraced.” I have spent a lot of time thinking about that quote lately. People will say a lot of things about me when I die, but I am determined that "he died rich" will not be one of them. There are too many urgent problems to solve for me to hold onto resources that could be used to help people.

That is why I have decided to give my money back to society much faster than I had originally planned. 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.

https://www.gatesnotes.com/20-years-to-give-away-virtually-all-my-wealth

 

[Moon]

Good for him, sounds like he’s put a lot of thought into it.

 

[Allan]

Good for him, sounds like he’s put a lot of thought into it.

He's done a lot so far. His development programs for water and vaccination programs have improved lives in developing countries.

His funding of energy innovations will benefit us all.

His ex wife has played a leading role in these programs.

 

[bomberfox]

Imagine if we didnt need a billionaire to decide over the fates of billions.

 

[Allan]

Imagine if we didnt need a billionaire to decide over the fates of billions.

I posted recently about a US millionaire who's had amazing success by "adopting" poorer neighborhoods. He pays for early childcare and pays for tertiary education.

The results have been stunning.

But couldn't the government do this, and shouldn't they be doing it?

 

[iliveonramen]

It's crazy how he's at the center of all of these conspiracy theories but the guy has made an insane amount of money, pretty much stayed out of the spotlight, and done so much good stuff with all his wealth.

 

[Allan]

It's crazy how he's at the center of all of these conspiracy theories but the guy has made an insane amount of money, pretty much stayed out of the spotlight, and done so much good stuff with all his wealth.

There is the issue of his association with Jeffrey Epstein. I don't think there's any evidence he did anything illegal but it showed poor judgment on his part.

 

[iliveonramen]

There is the issue of his association with Jeffrey Epstein. I don't think there's any evidence he did anything illegal but it showed poor judgment on his part.

Probably, but Epstein seems to have had relationships with everyone at that level.

There's obviously an issue in this country with wealth and power. Individuals have too much of both. It's a little club of untouchable people that run in the same circles. Epstein because he was rich had access and relationships with Presidents and billionaires.

 

[Allan]

Bill Gates is a guest on Stephen Colbert tonight.

I wonder if he'll have anything to say about the quacks in charge of America's health.

 

[Allan]

I watched Bill Gates last night. He is accelerating his donation because he feels that science is advancing so rapidly that diseases that are getting a lot of attention (for example Malaria) may be eliminated faster than previously thought possible.

The number is big. Over the next 20 years he expects the donation to be about 200 billion. His charity has already spent 100 billion.

Colbert tried to lure him into talking about the Trump administration cutting USAID. Gates wouldn't bite but did talk about some of the wins that US support for international programs have achieved.

 

[Helix]

I posted recently about a US millionaire who's had amazing success by "adopting" poorer neighborhoods. He pays for early childcare and pays for tertiary education.

The results have been stunning.

But couldn't the government do this, and shouldn't they be doing it?

Yes
Yes

 

[Visbek]

Imagine if we didnt need a billionaire to decide over the fates of billions.

I'm no fan of plutocrats or their ability to foist their priorities on the planet. Gates does a pretty good job, but most don't.

Unfortunately, we're seeing in real time how governments can rather quickly become unreliable sources of funding for humanitarian aid.

 

[Allan]

Gates does a pretty good job, but most don't.

There is an organization called The Giving Pledge started by Gates and Warren Buffet.

The signatories pledge to give at least half their wealth to charitable causes.

There are 236 members, mostly billionaires. Current pledge amount is about 600 billion.