Bill Gates donates $6 billion to charity after coming out to say he doesn’t want to be tagged as the richest man in the world

Bill Gates donates $6 billion to charity after coming out to say he doesn't want to be tagged as the richest man in the world

American billionaire, Bill Gates, an American business magnate and a co-founder of Microsoft has donated a sum of $6 billion to charity.

A report by Business insider revealed that the billionaire and philanthropist gave $5.2 billion worth of his stock in Canadian National Railway Co. to the Bill and Melinda Gates Foundation, as stated in SEC filings.

Bill Gates also went ahead to give $995 million worth of shares in Deere & Co, an American company that manufactures agricultural machinery and heavy equipment to the Bill and Melinda Gates Foundation.

Per report, another $3 million of shares was moved from the billionaire’s investment vehicle, Cascade Investment L.L.C to Bill and Melinda Gates Foundation. Despite all his distribution of wealth, the billionaire is still among the top 5 billionaires in the world.

Last week in a post on Twitter, the billionaire pledged to give $20 billion to the charitable foundation this month alone — went further to say that he intends to give away almost all of his wealth in the future.

In the tweet he stated:

“As I look to the future, I plan to give virtually all of my wealth to the foundation. I will move down and eventually off of the list of the world’s richest people.

“I have an obligation to return my resources to society in ways that have the greatest impact for reducing suffering and improving lives. And I hope others in positions of great wealth and privilege will step up in this moment too”.

The foundation also announced its intentions to increase the annual donations to $9 billion by 2026 and intimated the public about the contributions of fellow billionaire, Warren Buffet.