Bill Gates pledges to give away nearly all his wealth and close his foundation in 2045
Bill Gates made a major announcement about his wealth and the Gates Foundation on Thursday. He said he read a lot of books to come to the decision.
Microsoft co-founder Bill Gates has given himself a 20-year timeline to "give away virtually all my wealth."
The Gates Foundation says it has given away more than $100 billion dollars during its first 25 years, and will double that over the next 20 years.
Gates said he made the decision after reading "a lot of books."
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"One of the best things I read was an 1889 essay by Andrew Carnegie called The Gospel of Wealth," the chairman of the Gates Foundation wrote. "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."
This is a developing story. Check back for updates.
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