Bill Gates claims he will sell everything he possesses to fund his charitable organization
The Microsoft co-founder participated in his annual Ask Me Anything session on Reddit on Wednesday, where he responds to a selection of queries from Reddit members on a range of topics.
A Reddit user questioned him: "Isn't it contradictory to be a humanitarian and then amass the most valuable resource—land—under one?"
The user was alluding to Gates' acquisition of agricultural land. According to the 2022 edition of the Land Report 100, which tracks the nation's largest landowners, Gates owns over 275,000 acres of farmland in the US. According to a report released by the Department of Agriculture in February 2022, there were 895.3 million acres of farmland in the US in 2021.
Gates replied to the query by saying, "I will sell everything I have to raise money for the foundation." Even if it makes up less than 4% of the total, my investment firm makes an effort to invest in productive assets like farms in the meantime.
In his statement, Bill Gates made reference to the Bill & Melinda Gates Foundation, the charitable organization he and his then-wife, Melinda French Gates, founded in 2000. The now-divorced couple still jointly manages the charity, which aims to combat problems including poverty, injustice, and infectious diseases.
Together with his ex-wife, Melinda French Gates, and his close friend and CEO of Berkshire Hathaway, Warren Buffett, Gates founded the Giving Pledge in 2010.
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| Bill Gates |
Gates acknowledged that his decision to donate "substantially all" of his wealth to his charitable foundation will eventually cause him to drop off the list of the world's richest individuals when he made it public in July. With a net worth of $111 billion, Gates is currently the sixth-richest person in the world, according to the Bloomberg Billionaires Index.
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