After going through the recent report by international NGO Oxfam which says it would take Microsoft founder Bill Gates nearly 218 years to spend his entire money, if he spends $1 million per day, I decided to make further calculation using Nigeria Naira and different number of years.
The result was staggering! He current wealth is put at $82bn, and if he decides to spend N140million per day, he (Mr. Bill Gates) will need 300 years to spend all his money. Can you beat that? Drawing the spotlight at the rising inequality of wealth, Oxfam estimates that the richest 85 people on the planet owned as much wealth as the poorest half of humanity. “Between March 2013 and March 2014, these 85 people grew $668 Million richer each day,” the report said.
The report however praised Bill Gates for his philanthropic efforts, saying, “The decision of Bill Gates and Warren Buffet to give away their fortunes is an example to the rest of the world’s billionaires.”
The report ranks Bill Gates as the second richest in the world, pegging his wealth at $80 billion ($82bn according to Forbes). “In reality though, he would never run out of money: if he is to invest his entire money, even a modest return of just under two per cent would make him $4.2 million each day in interest alone,” adds the report.
The Microsoft founder is ranked next to the Mexican billionaire Carlos Slim, for whom it would take 220 years to spend his entire wealth at $1million per day, says the report.