Bill Gates pledges to donate ‘virtually all’ of $113bn fortune to his foundation

Microsoft co-founder says he wants to eventually move off the list of the world's richest people'

Bill Gates plans on giving away almost all his money to the philanthropic foundation that bears his name - eventually removing him from the list of the world's wealthiest people, he said this week.

The billionaire Microsoft co-founder, who launched the Bill & Melinda Gates Foundation in 2000 with his then wife, Melinda, said the non-profit plans to increase spending from $6bn annually at present to $9bn annually by 2026.