Your Take on Billionaires Promising to Give Away Their Wealth?

[bettyonline4656]

I recently came across the news that Bill Gates plans to give away his entire fortune through his charity foundation over the next 20 years. It got me thinking, why would someone spend the majority of their life accumulating wealth only to give it all away in the end? I'm curious, do they truly give it all away, or is there something more going on behind the scenes?

[freedomgo]

It’s kinda like giving back to the community, he wants to make a legacy.
Howeverl, I don’t think he’s planning to give everything away. The guy’s got investments that’ll keep printing money while he sleeps.

Still, whether he gives it all or just a chunk, $90 billion is insane money to share.
He’s probably the first to do it at that level, and no doubt, people especially those under his foundation will remember him forever.

Bill Gates reveals the 2 reasons why he's giving away his $90 billion fortune

[The Hidebehinder]

It got me thinking, why would someone spend the majority of their life accumulating wealth only to give it all away in the end?

Bill gates stopped accumulating wealth years ago, all his money is from Microsoft times, it's no different from the wealth owners of crypto would get over time, I am not doing a thing yet I saw my stash gain 1000% in value over the last 5-6 years, I'm not accumulating wealth I'm just enjoying a well placed investment.

[Charles-Tim]

I am very sure that his generation will not suffer and he will also have a good plan for his children and people that are worth something from him. He just want the world to know that individuals must work for their money. But I am sure that his children can use the influence of their father to go a long way.

[Adbitco]

I'm curious, do they truly give it all away, or is there something more going on behind the scenes?

Yes and there is every possibility for such happened considering how wealthy they are or could be, people like Elon Musk, and Bill gate could do that because they makes millions dollars within 24hrs and if they keeps spending that wouldn't affect their overall savings or investments reason because they already has investment where they are already reaping it folds, so they aren't much cared if they spent that on their foundation. What they believe is the life they would have to impacts before finally leaving the face of the earth.

[cabron]

I'm sure there is a catch to them giving away so much money. These guys won't give up something without getting anything from it. You can only wish they will give away and not asking something.  They even build a foundation for their money just to get away from taxes and yet they are giving away money they have accumulated for years? I'm not sure but there will be a catch to it.

[MArsland]

I recently came across the news that Bill Gates plans to give away his entire fortune through his charity foundation over the next 20 years. It got me thinking, why would someone spend the majority of their life accumulating wealth only to give it all away in the end? I'm curious, do they truly give it all away, or is there something more going on behind the scenes?

Bill Gates knows that when we die, we will take nothing but our bodies, life is not always about collecting money, right? For those of you who have not achieved wealth, then the thought must be strange, but basically what Bill Gates did was good. Giving a little better life to those in need, and this is a life where we must be able to understand what the people around us feel.

If your suspicion with things behind the scenes for example just formality, to show off, etc. but who cares? In the end, Bill Gates doesn't really care about such talk. Bill Gates does good, so we who can't do that should give appreciation.

[maydna]

That is not wrong doing that because he want to help many people with his foundations. Perhaps, he think that many people still suffer and difficult to survive out there so with his wealth, he can help them by giving something to those who needed. We don't know their real reason that but we don't have to think much because that is none of our business. We can see that he does that for humanity.

[AbuBhakar]

I recently came across the news that Bill Gates plans to give away his entire fortune through his charity foundation over the next 20 years. It got me thinking, why would someone spend the majority of their life accumulating wealth only to give it all away in the end? I'm curious, do they truly give it all away, or is there something more going on behind the scenes?

If I was rich as Bill Gates maybe I would've done it also. He already achieved so much in life that even his future generation is secured because of his wealth. Even if it has a hidden agenda, I would still accept what they will offer as long as it is not against my morals or something illegal. Nothing really is free in this world and we should be thankful if someone will offer us something that can change our life.

[Hewlet]

It got me thinking, why would someone spend the majority of their life accumulating wealth only to give it all away in the end? I'm curious, do they truly give it all away, or is there something more going on behind the scenes?

Giving back to the society is something
Most rich people do and at some point, they always decides on what to spend their money on. Some will it all to thier children while others use it to create systems that is beneficial to the community. Either way, you can't keep all your money to yourself knowing fully well that once you're dead, that's going to o be the end of the journey for you. You will eventually leave everything behind for others to use or leave everything behind that others can't even use. Which would you prefer to do?

It's only a selfish person that does not reason on how to transfer his wealth from himself to others that might have need of it at the time of his departure. Bill gate promising to give out his wealth to others  shows how he understands life despite his accomplishments.

[HONDACD125]

He probably knows that there will be so many billionaires and wealthy people in the world after him, and people won't even remember the current wealthiest people in the future, so he is doing something that will have his name written in the pages of history so that he is remembered even in the future unlike other wealthy people who will die and be gone forever while their wealth will go to their next generations but their names will be forgotten.

He has achieved everything he could in his life, and he probably doesn't need so much wealth and he knows that even if he does that, him and his family and their upcoming generations will still do good based on how much income their companies and sources of income generate, which means that if you have some savings, but you still have a good income, it wouldn't feel so bad spending those savings on something when you know you will keep getting more money over time.

[l3pox]

I recently came across the news that Bill Gates plans to give away his entire fortune through his charity foundation over the next 20 years. It got me thinking, why would someone spend the majority of their life accumulating wealth only to give it all away in the end? I'm curious, do they truly give it all away, or is there something more going on behind the scenes?

Bill Gates knows that when we die, we will take nothing but our bodies, life is not always about collecting money, right? For those of you who have not achieved wealth, then the thought must be strange, but basically what Bill Gates did was good. Giving a little better life to those in need, and this is a life where we must be able to understand what the people around us feel.

If your suspicion with things behind the scenes for example just formality, to show off, etc. but who cares? In the end, Bill Gates doesn't really care about such talk. Bill Gates does good, so we who can't do that should give appreciation.

I do believe that some of the billionaires donate a lot of their wealth and do good to the world
in general Bill Gates contributions are probably a net positive with many dollars invested into the research of erradicating some diseases and improving health of population, including poor people, there's a cool documentary about him on netflix

[Marykeller]

I recently came across the news that Bill Gates plans to give away his entire fortune through his charity foundation over the next 20 years. It got me thinking, why would someone spend the majority of their life accumulating wealth only to give it all away in the end? I'm curious, do they truly give it all away, or is there something more going on behind the scenes?

Bill Gates is 69 years old currently. He will be 89 years old  by the time he is done giving out his wealth through his charity foundation in the next 20 years.

At 89 years old, the bones are weak, and strength has deeply reduced. How long will someone live on earth before they meet their creator?

That would have been what Bill Gates thought about. Is it not to have a legacy to help the needy since we were all born with nothing, and we are leaving the earth with nothing. What's the essence of having huge accumulated wealth when you will not be buried with none of them.

I believe Bill Gates has thought through this for him to be remembered and celebrated in old age so that when he is no more, his legacy lives on.

[crwth]

I have read from some of the articles online that he is not planning to give money to his offspring but probably wants them to help themselves instead of just relying on his fortune. Anyway, that is definitely his legacy, and that's probably on his mind already. I hope it works out for the best and that fund helps a lot of people.

[reagansimms]

According to the article I read, the reason Gates donated his wealth to the "Gates Foundation" was because he did not want to be remembered as a rich person after he died. What Gates did was very rare before, Usually parents try to collect wealth to pass on to their children, but he chose a different path. If what was reported really happened, he would always be remembered as the most generous rich man who put the interests of his fellow human beings before his family.

[BenCodie]

The main thing to keep an eye on is who he plans to give his wealth away to. Giving it away doesn't mean it will be equally divided between a nation, or even that it will go somewhere that is truly humanitarian. I'm sure there's an ulterior motive or motivation, outside of giving it away out of the goodness of their heart.

[Zaguru12]

I have read from some of the articles online that he is not planning to give money to his offspring but probably wants them to help themselves instead of just relying on his fortune. Anyway, that is definitely his legacy, and that's probably on his mind already. I hope it works out for the best and that fund helps a lot of people.

Most of the time one thing I have noticed is that this people that are actually taking a second though of giving out their inheritance to charity instead of their family are mostly not just doing it for their philanthropic being but rather they are mostly doing it out of actually protecting their wealth from either been wasted or squandered in an unworthy cause. For Bill Gate it could be that he must be thinking that the family already has something that can keep them in shape even after his death and would rather give it back to the community where it came from.

Another could be because they have rift with their Kins which are supposedly going to inherit their wealth and instead they wish not to have it in their possession example is the legendary Movie Actor Jackie Chan who has also said his Son who was reportedly into drugs will not be inheriting his wealth because he feels he would waste it.

Some others build charity foundations to evade taxes and stuffs like that

[Natalim]

If that’s his last will to give all his fortune to his Gates Foundation, then we can’t change it. His foundation supports global health, education and poverty alleviation, so if majority of the people will benefit from it, thus there’s no reason to hold your wealth and bring it to your grave when you die.

This is one way to give back and return all the favors that he had enjoyed all throughout these years. After all, wealth is just material, so why need to be greedy when you can use it to save million or billion lives of the unfortunate people.

[Queentoshi]

I recently came across the news that Bill Gates plans to give away his entire fortune through his charity foundation over the next 20 years. It got me thinking, why would someone spend the majority of their life accumulating wealth only to give it all away in the end?

It aligns with his life goals. From the news, the donation is going to be made to his charity, and it is not going to get him poor; he is going to have enough for himself. His children will also be settled with enough for them to find their feet. Maybe he also does not want his family fighting over his wealth, so he is making this known so that people close to him who have that in their plan to inherit and fight over his wealth have a change of mind that it will not be possible, and also to encourage other billionaires to take the same path.

[m2017]

I recently came across the news that Bill Gates plans to give away his entire fortune through his charity foundation over the next 20 years. It got me thinking, why would someone spend the majority of their life accumulating wealth only to give it all away in the end? I'm curious, do they truly give it all away, or is there something more going on behind the scenes?

Of course, this is "a sweet lie to the ears of naive listeners". No one will ever just give away wealth that is so hard to get. Partly, in the case of Gates, this is a PR campaign (or so it seems to me), and partly, a way to reduce tax expenses from your wealth (charitable foundations are exempt from tax, i.e. this is an easy way to give money to "the right people" without tax deductions). All these stories with charitable foundations look to me like a life hack for the rich to reduce their expenses.