22.01.2019, Schweiz, Davos: Bill Gates, Vorsitzender der Bill & Melinda Gates Foundation, gestikuliert während einer Sitzung im Rahmen des Weltwirtschaftsforums. Das Weltwirtschaftsforum findet vom 22. bis 25. Januar 2019 statt. Foto: Gian Ehrenzeller/KEYSTONE/dpa +++ dpa-Bildfunk +++

Bill Gates plans to donate his entire fortune to his foundation. The consequence of his decision was that he would “slide down the list of the richest people in the world and eventually disappear entirely,” the Microsoft founder wrote on Twitter on Wednesday.

“I have an obligation to give my funds back to society in a way that has the greatest impact on reducing suffering and improving lives.”

When exactly he wants to donate his fortune, he left it unclear.

It’s not the first time Bill Gates has announced he will donate his entire fortune, the BBC reports. But since his initial announcement in 2010, Gates’ fortune has more than doubled.

Gates writes that several major global setbacks in recent years have discouraged many people. The corona pandemic, the Russian war of aggression against Ukraine and the damage caused by climate change are just a few of the setbacks he sees. “And many people are wondering if it will get any worse.”

Gates is currently the fourth richest person in the world. According to Forbes magazine, he is worth $129 billion. Only recently, however, did he announce that he would give 20 billion to the “Bill

Ex-spouses Bill Gates and Melinda French Gates’ foundation is said to have assets of about $49.8 billion as of 2020, the BBC reports. Among other things, the foundation worked to eradicate diseases such as malaria and improve education.