³ÉÈËXÕ¾

Bill Gates, the billionaire co-founder of Microsoft and philanthropist, announced he is donating nearly his entire net worth—approximately $113 billion—to the over the next 20 years.

“Bill Gates says I’m giving away my money. If you’re rich, really, really rich, take your money and then create a foundation,” John Curley, host of “The John Curley Show” on ³ÉÈËXÕ¾ Newsradio, said. “You move your money into a foundation, and the foundation pays less taxes than you. All right, that’s the way the rules are written. Oh, it’s a loophole, no, these are just the rules.”

Factoring in inflation, this donation gives the Gates Foundation an additional $200 billion over the next two decades to help complete its large-reaching goals: Curing preventable diseases and helping the impoverished. Donating about 99% of his personal wealth will double the speed of the work the foundation is committed to, which factors into Gates’ next part of his plan—to shutter the foundation’s doors in 20 years after the foundation spends the $200 billion and completes its work.

What will Bill Gates’ donation achieve?

“Here are the criticisms for somebody like Bill Gates. They say, when you get all that money (and) all that power, you get a lot of influence and then you’re directing public policy based upon where your money is going,” Curley said. “That’s kind of the big knock against it, right? He wants to get rid of malaria, fine, but what are the other things that he’s investing in and moving money over?

So look, he made it. That’s who he is. Bill Gates is a very focused, very strong-headed individual,” Curley continued. “It’s really odd that people all of a sudden say, ‘Well, he was just maniacal in his years at Microsoft.’ When he decided to get away from Microsoft and start the foundation, it didn’t change as hard. He’s still a hard-driving guy who likes things done his way, and he wants things and wants his money to go to things that he wants to support and, at the same time again, power and influence move in that same direction. So, good for him giving it away. I’m sure he’s leaving something to the kids.”

Listen to the full conversation here.

Listen to John Curley and Shari Elliker weekday afternoons from 3 – 7 p.m. on ³ÉÈËXÕ¾ Newsradio, 97.3 FM. Subscribe to the podcast here.