Bill Gates donated 5 billion dollars in one year

The Chronicle of Philanthropy accounts for the generosity of the world’s wealthy. According to this website, individuals or foundations donated a total of 9.3 billion or 9.3 billion dollars in 2022. And first among them is the co-founder of Microsoft and the richest Bill Gates.

Bill Gates gave 5 billion dollars to the Bill & Melinda Gates Foundation in 2022. Bill Gates has donated this money to health, development, education and policy research. In July last year, Bill Gates made a splash by announcing a $20 billion donation to the Bill & Melinda Gates Foundation. However, foundation officials said that Bill had promised to give 15 billion of this 20 billion in 2021. So the new bill gave 5 billion or 5 billion dollars.

In second place are Anne and John Doer. They are donating 110 million dollars to Stanford University through their own Beneficius Foundation. They are giving this grant to a research organization on sustainable development.

Amazon founder Jeff Bezos’ mother, Jackie, and stepfather, Mike Bezos, have donated $710 million to the Fred Hutchinson Cancer Center. They have given this grant to build 36 research labs and additional research infrastructure. But as much as Bill Gates and Warren Buffett are known as donors, they are not even close to him.

But 92-year-old Warren Buffett can never be kept away. Last year also he was third in the list of donors. He is donating through the Susan Thomson Buffett Foundation. This foundation works to improve women’s reproductive health. In addition, they provide scholarships to Nebraska college students.

In other words, it appears that the money received from this donation is mainly from large and well-established institutions, including three private foundations and the same number of universities. These have been donated to sustainable environment, children’s mental health and stem cell research.

Two of these donations amount to more than $1 billion. At least six of the eight donors own hundreds of billions of dollars. The combined wealth of these six donors is 325 billion or 32 thousand 5 billion dollars.

The point is that a class of people will accumulate huge wealth and donate it to the state as part of giving back to the society apart from paying taxes. But the thing is, this system allows one person to own hundreds of millions of dollars, there are undoubtedly many lumps in it. Even Bill Gates himself once said, how do you own so much money? In fact, it is because of the loopholes in the system that I am able to own so much wealth.

There is truth in the words of Bill Gates. The New York-based ProPublica news site has highlighted the income tax evasion of US billionaires last year. It shows that Amazon CEO Jeff Bezos did not pay any income tax in 2007 and 2011. On the other hand, Tesla CEO Elon Musk did not pay income tax in 2018. The top 25 richest Americans pay an average of 15.8 percent less in taxes than most Americans.