For now, Microsoft founder Bill Gates is worth a whopping $118 billion dollars. While not the richest man in the world, Gates’ wealth extends far beyond monetary gain. Over the years, the billionaire has invested in numerous companies in the health industry. Not to mention his fortune increased during the COVID-19 pandemic. But as Americans continue to protest the rich getting richer, Gates recently announced he plans to donate a majority of his wealth. Don’t get too excited though as he explained it would be going to the Bill & Melinda Gates Foundation. 

Writing on the Gates Notes blog, the founder revealed, “As I look to the future, my plan is to give all my wealth to the foundation other than what I spend on myself and my family. I do some giving and investing in U.S. health care issues, including Alzheimer’s, outside the foundation. Through Breakthrough Energy, I will continue to invest and give money to address climate change. Overall I expect that the work in these areas will make money, which will also go to the foundation. I will move down and eventually off of the list of the world’s richest people.”

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As for how much he will be donating, Gates added that due to the foundation increasing its spending to $9 billion, he was giving $20 billion this month. “To help make this spending increase possible, I am transferring $20 billion to the foundation’s endowment this month.”

Gates also took the time to thank one of the foundation’s most lovable contributors, Warren Buffett. “Although it is named the Bill & Melinda Gates Foundation, basically half of our resources to date have come from Warren Buffett’s gifts. Since 2006, Warren has gifted the foundation $35.7 billion, including his most recent gift of $3.1 billion in June. The actual value of these gifts is about $45 billion if you include the appreciation of the Berkshire Hathaway stock after it was given.”

Before announcing the donation, Gates wrote about the Supreme Court ruling on Roe v. Wade, noting,  “I believe the reversal of abortion rights in the U.S. is a huge setback for gender equality, for women’s health, and for overall human progress. The potential for even further regression is scary. It will put lives at risk for women, people of color, and anyone living on the margins.”