Bill Gates promised to pay off this country's $76 million debt — now he's doing

[Rams]

Bill Gates promised to pay off this country's $76 million debt — now he's doing it

https://www.msn.com/en-us/money/markets/bill-gates-promised-to-pay-off-this-countrys-dollar76-million-debt-—-now-hes-doing-it/ar-AAuRIkk?li=BBmkt5R&ocid=spartanntp

Billionaire philanthropists Bill and Melinda Gates will pay off $76 million of Nigeria's debt.

It's part of a promise the Bill & Melinda Gates Foundation made to the African country in an effort to end polio. The payments, which will be made over the course of 20 years, are due to begin this year.

While I don't agree with all of Mr. Gates social agenda, I admire any man that keeps his word.   He doesn't depend on our government or the taxpayers to subsidize all of his causes.   He does it himself.  

Rams

[f6john]

Wouldn’t it be great to be able to do this and it not even sting a little bit. We all know that we make sacrifices in both time, money and energy for our families and significant others even to the point of being detrimental to our health and our bank accounts. But we do it out of love and responsibility and the joy it brings to us. I applaud Bill and Melinda and Mr. Buffet for the commitment they have made to share their wealth. Their cup should runnith over with joy.  Now, if they were to give till it hurts, wouldn’t that be something.

[G-Man]

While it is a wonderful thing, I hope they have figured out how to navigate the corruption within that gov't, aaaaand the african-islamic terrorists that have found a haven in that country.

[Robert]

While giving is good what about the poor and needy here? There are many children that go to bed hungry right in here and parents that dont have jobs what about them? How about the ones effected by the closing of the coal mines that dont have any money and no prospect for work. The money they gave is about the same as us giving 10.00. I know they do give alot of money away but with $125 million mansion and a net worth of $88.3 billion, I doubt they will miss it. Most of their causes are global not local. A bit of research into the Bill and Melinda Gates foundation is well worth it.

[Bighead]

I would admire his effort more if he spent that money on the people here that are in need..

[Serk]

The national debt of Nigeria is $79.7 Billion... His $76 million gesture is nice and all, but that's not even making an interest payment on the total debt of Nigeria.

(Source - World debt clock - http://www.usdebtclock.org/world-debt-clock.html )

[The emperor has no clothes]

The national debt of Nigeria is $79.7 Billion... His $76 million gesture is nice and all, but that's not even making an interest payment on the total debt of Nigeria.

(Source - World debt clock - http://www.usdebtclock.org/world-debt-clock.html )

I read about a few days ago. As I understood the story, it was specifically to pay off a loan from Japan. They borrowed money to fight the spread of polio. Evidently most of the worlds polio was in Nigeria. They succeeded in that no new cases of the disease were found last year. It really had nothing to do with their national debt, just the loan to Japan.

[Rams]

While giving is good what about the poor and needy here? There are many children that go to bed hungry right in here and parents that dont have jobs what about them? How about the ones effected by the closing of the coal mines that dont have any money and no prospect for work. The money they gave is about the same as us giving 10.00. I know they do give alot of money away but with $125 million mansion and a net worth of $88.3 billion, I doubt they will miss it. Most of their causes are global not local. A bit of research into the Bill and Melinda Gates foundation is well worth it.

Not that all give but, those that do give to the charity or needy of their choice.   Eradicating polio is a very worth while project.   Keeping his word to pay off the loan (from Japan) that allowed Nigeria to immunize all those kids is a wonderful gift to the world.    I give to charities of my own choice, I don't have his wealth to share but, I'm glad he chooses to share it somehow.   There are a lot of folks who don't appear to take steps toward helping anyone but themselves.

Would I like the Gate's Foundation to look internally?   Sure but, I'm betting they already do.   That would take some research on my part that I have not done.    

[¿spoom]

I would admire his effort more if he spent that money on the people here that are in need..

True, but he does pay US taxes so he kind of does. As far as helping Americans, with the ever increasing number of Americans who for whatever reason(s) are not getting their kids immunized against what we used to call "cured illnesses" I suppose fighting Polio across the Atlantic will stop the kids of irresponsible parents here from getting it.

[Willow]

I don't want to be overly cynical.  It is a good thing that He's (they're) doing and I'm sure they are giving elsewhere but that 76M is less than 3% of his annual income.  I would not be proud if my charitable giving were three percent of my annual income.


Additional info - Just a little research if my math is correct shows that over half of Bill Gate's income goes to the Gates Foundation.  The $76M is only a small part.   

If Half my income was given to charity I would be very proud.  The question is how could I live on the remaining 1.3 billion?

[Robert]

Was thinking about Willows post I was wondering how much per year he actually makes and heres what I found. Its not even 1 percent of his income, he only had to work a little over 3 days to make the money to give. Its also spread out for 20 years, but to be fair though he does give away something to the tune a a few billion a year.

Bill Gates: He earned $11.5 billion this year which works out to be ~$33.3 million per day; $1.38 million per hour; or ~$23,148 per minute.