Bill Gates: Microsoft founder to give most of $200bn fortune to Africa
Bill Gates: Microsoft founder to give most of $200bn fortune to Africa
The Microsoft founder urges young innovators to use Artificial Intelligence to improve health services.
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Microsoft founder Bill Gates says that most of his $200bn (£150bn) fortune will be spent on improving health and education services in Africa over the next 20 years.
The 69-year-old said that "by unleashing human potential through health and education, every country in Africa should be on a path to prosperity".
Speaking in Ethiopia's capital Addis Ababa, he also urged Africa's young innovators to think about how to build Artificial Intelligence (AI) to improve healthcare on the continent.
Gates announced last month that he would give away 99% of his vast fortune by 2045, by when his foundation planned to end its operations.
So no, he's not giving it away in traditional sense. It's still directed spending according to what he believes is correct. Over 20 years. So same old but with AI.
So. No way he's living to 2045. After he dies I bet someone just changes everything. This won't happen. Even in the hamstring version he has written up at the moment.
Has anyone else spent that kinda money effectively ? If I was billionaire looking to donate my wealth I’d probably donate it to Gates fund.
Not $200B no. Here's the list of total dollars, but no data on effectiveness. Notice Bill is already on this list while alive in the #2 spot:
China has, with different strings attached.
As for individuals or NGOs, I don't know. That said, as GiveDirectly have shown, it's not complicated to spend effectively if you don't want to exercise significant control. All you have to do is give the money directly to poor people. That's about it. They will circulate it and recirculate it in the local economy, multiplying the effects.
Or you could get China to build the equivalent of a fifth of the B&R infrastructure on your dime without the strings attached. Trains, roads, ports, power generation, etc.
Or if you wanted to help curb the ability of someone else accumulating as much as you did, establish funds for worker co-op startup firms, unions and socialist politicians' campaigns.
Pretty sure the work he’s done on helping to eradicate malaria, HIV and tuberculosis is more effective than giving them cash.
When has China done that?
Since 2013 or so with the Belt and Road Initiative.
doesn't that just put poor countries into debt with China?
not really the same at all. sounds pretty neoliberal if you ask me