Why Philanthropists Should Become Heretics

credit: Go to Graduate School

Bill Gates has promised to give away 99% of his personal fortune$45 billion, to be exactby the time he's 80.

In an interview with the New York Times, the Microsoft co-founder says he's "surprised and humbled" by the outpouring of support he's received since announcing his plan to donate 99% of his wealth to the Bill and Melinda Gates Foundation in May.

The Gates Foundation, which he helped found with his wife, Melinda, is the world's biggest private-sector charity, with around $35 billion in assets.

Gates says he wants to give away around $100 million a year by the time he's 80, which would make him the second-richest person in the world, behind only Carlos Slim of Mexico.

He says he's "surprised and humbled" by the outpouring of support, but he's not worried about being outshone by other philanthropists.

"There are a lot of good people out there," he says.

"I'm not worried about being outshone.

I'm worried about having a positive impact on the world."

In an op-ed for the Washington Post, Brookings Institution fellow David Ignatius calls for a more "disruptive" approach to philanthropy

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