Gates Says He'll Give It Away


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http://money.cnn.com/2002/11/12/news/gates....reut/index.htm

Gates says he'll give it away

The world's wealthiest individual says most of his money will go to charity, not his three children.

November 12, 2002: 9:39 AM EST

NEW DELHI, India (Reuters) - Microsoft Corp. Chairman Bill Gates, the world's wealthiest man, said Tuesday he will pass a sizeable portion of his wealth to charity and not his three children.

"I don't think it's constructive to grow up having billions of dollars," Gates said of his children at a news conference while on a four-day trip to India. "The idea that I will take a sizeable portion of my fortune and have them inherit that, I don't think that would be to society's benefit or to their benefit. I've spoken out about this before...my philosophy of giving back my wealth to society."

But Gates added: "Certainly I'll make sure they are taken care of in a sense that they can live a very comfortable life."

The 47-year-old's wife, Melinda, gave birth to their third child in September. The other two are ages six and three.

Gates, whose fortune is estimated at $43 billion by Forbes magazine, announced a $400 million investment in India to boost education, business partnerships and software development.

A Harvard drop-out, Gates built his vast fortune from the Microsoft technology empire he started from scratch. Microsoft is the world's largest software firm.

Gates said Monday he will give $100 million to battle the spread of HIV/AIDS in India, which has the world's second-largest number of cases of the deadly disease.

The donation -- the largest single-country grant by the Bill & Melinda Gates Foundation -- is aimed at protecting truck drivers, migrant workers and other vulnerable groups from the disease.

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Is it wise to send India that much money for HIV research, looking at their current technology level?

In other words, why wouldn't it be better to send it to a more developed country, already having a headstart on this research?

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Is it wise to send India that much money for HIV research, looking at their current technology level?

In other words, why wouldn't it be better to send it to a more developed country, already having a headstart on this research?

it's not for research, its for prevention.

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Is it wise to send India that much money for HIV research, looking at their current technology level?

In other words, why wouldn't it be better to send it to a more developed country, already having a headstart on this research?

it's not for research, its for prevention.

yep it is i think its good hes doing that at least

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