Bill Gates once said he would be comfortable paying $20 billion (£15 billion) in taxes, but a hypothetical $100 billion (£75 billion) bill would make him start calculating what he had left.
The Microsoft co-founder made the remarks in November 2019 during a New York Times DealBook conference interview, where he was asked about Elizabeth Warren's proposed wealth tax. His comments drew a public response from the then-Democratic presidential candidate, who offered to explain why her plan would not cost him that much.
Years later, Gates has outlined a separate plan to give away almost all his wealth through the Gates Foundation, committing it to spend more than $200 billion (£150 billion) over the following two decades.
The contrast raises a question that goes beyond one billionaire's finances: how should the fortunes of the ultra-rich contribute to society, and who should decide where that money goes? Gates has supported higher taxes on wealthy people, but his views on how the system should work have not always matched Warren's proposal.
Bill Gates And Elizabeth Warren's Wealth Tax Dispute
Speaking to interviewer Andrew Ross Sorkin at the 2019 DealBook conference, Gates said he had already paid more than $10 billion (£7.5 billion) in taxes. He added: 'If I had to pay $20 billion, it's fine. But when you say I should pay $100 billion, then I'm starting to do a little math about what I have left over.' He followed the remark with, 'Sorry, I'm just kidding.'
Gates also questioned whether Warren would be willing to meet with someone as wealthy as him, saying he was unsure how open-minded she was.
Warren responded on X, formerly Twitter, the following day, writing: 'I'm always happy to meet with people, even if we have different views.' She added that she would welcome the opportunity to explain her proposal and promised that the bill would not reach $100 billion (£75 billion).
I'm always happy to meet with people, even if we have different views. @BillGates, if we get the chance, I'd love to explain exactly how much you'd pay under my wealth tax. (I promise it's not $100 billion.) https://t.co/m6G20hDNaV
— Elizabeth Warren (@ewarren) November 7, 2019
Warren introduced her Ultra-Millionaire Tax in January 2019. The original proposal set an annual 2% tax on household net worth above $50 million (£37.5 million) and an additional 1% surtax on wealth above $1 billion (£750 million), bringing the top rate to 3%.
She later proposed raising the top rate to 6% as part of her campaign's plans to help fund Medicare for All.
Contemporary reporting put Gates's fortune at roughly $109 billion (£81.75 billion) in November 2019. Using that estimate, Warren's later proposal would have produced an illustrative annual bill of about $6.5 billion (£4.875 billion).
This calculation applies the proposed 6% rate to wealth above $1 billion (£750 million) and the 2% rate to wealth between $50 million (£37.5 million) and $1 billion (£750 million). It assumes the full fortune is included in the taxable base and does not account for potential exemptions, valuation rules or other implementation details.
The proposal was never enacted as law, so the estimated bill remains hypothetical. Its actual impact would have depended on the final legislation and how the rules were implemented.
Bill Gates' $200 Billion Philanthropy Pledge And Tax Views
In his May 2025 post, The Last Chapter of My Career, Gates said his personal fortune would decline by 99% by the foundation's planned closing date of 31 December 2045.
The foundation expected to spend more than $200 billion (£150 billion) over the following 20 years, although the final amount would depend on market conditions and inflation. Bloomberg's Billionaires Index valued Gates's fortune at about $108 billion (£81 billion) around the time of the announcement.
'People will say a lot of things about me when I die, but I am determined that "he died rich" will not be one of them,' Gates wrote.
The commitment follows decades of giving through the foundation, which supports work including global health, education and poverty reduction. Gates has said he wants to direct his remaining wealth towards causes he believes can improve lives, rather than leave most of it to his heirs.
His position on taxation is more nuanced than his 2019 exchange with Warren might suggest. In a year-end post published on 30 December 2019, Gates argued that wealthy people should pay more in taxes.
He advocated raising capital gains and estate taxes, removing the cap on income subject to Medicare taxes and closing tax loopholes, including one that benefits some investment-fund managers. He also argued that voluntary charitable donations cannot replace government revenue because public services require a tax system that establishes what people owe.
That distinction is central to the debate. Taxes are compulsory payments collected under laws set by elected governments, while philanthropy allows donors to choose which causes receive money and how funds are allocated. Both can support public welfare, but they give the person contributing the money very different levels of control.
Gates's pledge therefore does not resolve the question Warren raised in 2019. It shows what he intends to do with his wealth through private giving, while the wealth-tax debate concerns how much governments should collect from the richest households and how that revenue should be used.
Frequently Asked Questions
- What was Bill Gates' stance on Elizabeth Warren's wealth tax proposal?Bill Gates expressed concerns about the amount he would have to pay under Warren's proposal, joking about doing the math if he had to pay $100 billion.
- What is Bill Gates' plan for his wealth?Bill Gates plans to give away almost all his wealth through the Gates Foundation, committing to spend more than $200 billion over the next two decades.
- What was Elizabeth Warren's response to Bill Gates' comments?Elizabeth Warren responded by saying she was open to meeting with Gates and explained that her proposal would not cost him $100 billion.
