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submitted 3 days ago by [email protected] to c/[email protected]
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[-] [email protected] 62 points 3 days ago

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.

[-] [email protected] 9 points 3 days ago

It’s in a trust. That’s now how wills and stuff work. The whole point of paying attorneys and shit is for this kind of stuff. They are getting paid handsomely to make sure it happens. No reason to get disbarred for money that will be seized if you’re caught.

[-] [email protected] 1 points 3 days ago

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.

[-] [email protected] 8 points 3 days ago

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:

source

[-] [email protected] 4 points 3 days ago* (last edited 3 days ago)

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.

[-] [email protected] 2 points 3 days ago* (last edited 3 days ago)

Pretty sure the work he’s done on helping to eradicate malaria, HIV and tuberculosis is more effective than giving them cash.

[-] [email protected] 1 points 3 days ago
[-] [email protected] 3 points 3 days ago

Since 2013 or so with the Belt and Road Initiative.

[-] [email protected] 0 points 2 days ago

doesn't that just put poor countries into debt with China?

not really the same at all. sounds pretty neoliberal if you ask me

[-] [email protected] -1 points 3 days ago

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.

[-] [email protected] 12 points 2 days ago

Just hear me out what if he gives it to me.

[-] [email protected] 2 points 3 days ago* (last edited 3 days ago)

Last I've checked Gates donated $60B to his foundation and now the foundation controls $90B. They got so many other donations Gates now controls more money then before.

Yeah, real sacrifice Bill...

[-] [email protected] 20 points 3 days ago* (last edited 3 days ago)

You make it sound like this is a money making scheme but he's still out about $170 billion compared to other billionaires who pat themselves on the back for a $10k donation here and there or try to use their money to destroy democracy so they can be even more obscenely rich and powerful. $200 billion will go a long way in a developing continent.

[-] [email protected] 10 points 3 days ago* (last edited 3 days ago)

Which still has no material impact on his well being and keeps most people distracted from his behaviours from all kinds of inappropriate conduct at Microsoft to his efforts to rehabilitate Epstein after his first conviction, with a bunch of economic crimes and things that should be economic crimes in the middle.

[-] [email protected] 6 points 3 days ago* (last edited 3 days ago)

Not to mention, foundations like that are a frequent tax dodge, and is also reputation laundering.

Bill is basically a modern Carnegie. Sure he gives a shit load of money away, but also goes around paying people to fuck over anyone for a buck.

It’s like playing fable, going to a vendor and buying all their gems only to sell it back at an inflated price (rinse and repeat, you’ll be rich.)

Then going and fucking over the entire town to get rental properties.

Then going to the temple of light and paying to change your alignment.

You’ve still got all the properties and you’re still making money hand over fist but everyone thinks you’re some sort of hero.

[-] [email protected] 2 points 3 days ago

He's doing this to distance himself from Epstein, and him being ruthless business in the 80s and 90s. Even his vaccine initiative has a ulterior motive, look up vaccine colonization and gates.

[-] [email protected] 1 points 2 days ago

That might be part of it.

But it’s hardly all of it. Gates is, and was, an evil man.

[-] [email protected] 1 points 2 days ago

it was always a money laundering scheme.

[-] [email protected] 1 points 2 days ago

Nothing any billionaire does will ever have any material impact on them financially.

Whether or not billionaires should exist on the first place is a separate topic that I'm guessing we both agree on. But they exist nonetheless, and they certainly have a material impact on the world, so all that leaves you with is comparing them against their peers to get a better idea of how truly greedy the worst of them are.

[-] [email protected] -1 points 3 days ago* (last edited 3 days ago)

You make it sound like he actually lost some money. It's all just for show. It's not like he wanted to buy something but decided to donate money instead. He can still afford absolutely everything he could even want. He's not poorer in any meaningful way. The money his foundation has gives him power. Power to influence governments and policy (like he did with common core). His foundation has now more money than he donated so he has more power than before. It's a PR stunt.

[-] [email protected] 34 points 3 days ago

His PR company doing the rehab work on his public image is top notch, but they need some new material. This one is such a rerun.

this post was submitted on 02 Jun 2025
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