Hot on HuffPost Tech:

See More Stories
AOL Tech

Bill Gates Says Economic Downturn to Last Four Years



When Bill Gates speaks about money, people listen.

And according to Mr. Gates, the future is looking pretty grim: The philanthropist and former boss of a little company called Microsoft told the BBC that it could take as long as four years for the world economy to reverse its current downturn.

Speaking at the World Economic Forum last week, Gates said the world's poor could not wait for economic recovery. He said he expects the eventual turnaround to be driven by advances in medicine, genetics and software, and that it was up to philanthropists to urge governments, firms and individuals to keep on giving in the meantime.

The Bill and Melinda Gates Foundation has lost one fifth of its value in the current financial crisis. Which gets the point across: Despite the fact that our wallets are hurting more than they ever have, there has never been a more important time to give to the causes most important to you. And if it means "borrowing" your friend's copy of Microsoft Office, then so be it. [From: BBC]

Tags: bill gates, BillGates, business, davos, economic crisis, EconomicCrisis, microsoft

Comments

1