Bill Gates plans to drop from the list of world richest men


Bill Gate will no longer be on the list of the world's wealthiest people.

On Wednesday, the Microsoft co-founder, 66, announced on Twitter and in a blog post that he plans to transfer $20 billion of his personal wealth into the Bill & Melinda Gates Foundation's endowment this month.

The donation by Gates — who established the foundation with ex-wife Melinda French Gates in 2000 — will allow the organization to increase its spending from $6 billion to $9 billion per year by 2026, according to the announcement.

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