Bill Gates recently shared his thoughts on wealth and taxation, stating that billionaires like himself would be significantly less wealthy if he designed the U.S. tax system. Speaking on the Netflix show What’s Next? The Future with Bill Gates, he mentioned that under his ideal tax system, the ultra-wealthy would have only a third of their current wealth. Gates described it as “strange” to have people worth billions, and suggested that a more progressive tax system wouldn’t hinder the motivation to accomplish great things.
In his conversation with Senator Bernie Sanders, Gates acknowledged that he supports a more progressive tax structure, including the estate tax. He also emphasized the importance of billionaires voluntarily giving away more of their wealth to combat inequality. Gates believes that such immense wealth, if used correctly, could significantly benefit society rather than just being consumed.
Gates, who has pledged to give away nearly all his wealth to the Bill & Melinda Gates Foundation, pointed out that despite living in a wealthy country like the U.S., there is still considerable deprivation. He noted that this indicates a lack of adequate funding for social safety nets. However, he does not believe in outlawing wealth above a certain size as a solution.
The tech mogul’s comments come as part of his ongoing advocacy for philanthropy among the super-rich. He co-founded the Giving Pledge with Warren Buffett and Melinda French Gates, encouraging billionaires to donate a majority of their fortunes. With over 240 signatories, the initiative reflects Gates’ belief in using wealth to address global challenges and improve societal well-being.
