Bill Gates Chats with Ellen for the First Time

Summary

In this interview, the guest discusses their journey to becoming a billionaire at a young age, driven by a passion for software rather than money. They share their initial surprise at the financial success and their conservative approach to finances, which included concerns about meeting payroll. The conversation shifts to their philanthropic efforts, with a focus on global health, reducing child mortality, and improving education in the US. The guest also highlights the importance of individual contributions, such as mentoring and supporting public schools, and the debate on America's role in global health assistance.

Takeaways

• 😄 The interviewee was nervous about their entrance but had a great rehearsal that surprised the host.
• 🏆 The interviewee and the host previously met at the White House while receiving the Medal of Freedom.
• 💼 The interviewee became a billionaire at a young age, primarily due to his passion for software rather than a focus on wealth.
• 🚗 He admits to buying a Porsche and getting a plane as indulgences after becoming wealthy.
• 💸 Despite his wealth, he remains conservative with his finances and has not made many extravagant purchases.
• 💊 The Bill and Melinda Gates Foundation has committed $40 billion to address global health issues, particularly focusing on reducing child mortality.
• 📚 They also prioritize improving the education system in the United States, aiming to support teachers and spread best practices.
• 🌍 The foundation's work is global, with a significant impact on health and education, and they encourage other billionaires to contribute.
• 🤝 The interviewee suggests that individuals can help by engaging with local schools, mentoring children, and sharing their professional experiences.
• 🗣️ There is an ongoing debate about the United States' role in global health funding and the importance of continued generosity towards international aid.

Q & A

What was the guest's reaction to the entrance dance?

The guest was surprised and thought it was really good, as indicated by the laughter and applause during the rehearsal.

Where did the interviewee and the interviewer previously meet?

They previously met at the White House where they both were receiving the Medal of Freedom.

At what age did the interviewee become a billionaire?

The interviewee was almost 21 years old when he became a billionaire.

What was the interviewee's primary interest during his youth?

The interviewee's primary interest was in software and hiring people, rather than focusing on money.

What was the interviewee's concern regarding his early business?

He was concerned about being able to meet the payroll for his employees who were older than him and had families.

How did the interviewee feel when his business went public?

He was stunned at how valuable his business became when it went public.

What was the interviewee's attitude towards spending money after becoming a billionaire?

He remained conservative and didn't make many extravagant purchases, only buying a Porsche and getting a plane for travel.

What is the main focus of the Bill and Melinda Gates Foundation?

The main focus is global health, particularly reducing child mortality and developing new drugs and vaccines.

What is the second biggest focus of the foundation in the US?

The second biggest focus is improving the education system in the US.

What does the interviewee suggest as a way for individuals to help with education?

Individuals can help by engaging with local schools, mentoring kids, and sharing their professional experiences.

What is the current debate regarding US foreign aid mentioned in the script?

The debate is whether the US should continue to be generous with less than 1% of its budget to save tens of millions of lives abroad.

Outlines

00:00

😀 Welcoming and Early Life Reflections

The host warmly welcomes the guest, a billionaire known for his contributions to technology and philanthropy. They discuss the guest's initial nervousness about appearing on the show and his earlier rehearsal that was surprisingly good. The conversation shifts to a past event at the White House where both were awarded the Medal of Freedom. The guest shares his early life experiences, focusing on his passion for software rather than money, and his conservative approach to finances due to the responsibility of having older employees with families. He expresses surprise at the immense value his work eventually held, leading to his billionaire status. The discussion also touches on his modest lifestyle post-wealth, including his indulgence in buying a Porsche and a plane for travel, and the installation of an indoor trampoline room for his children.

05:01

💼 Philanthropic Endeavors and Global Health Focus

The billionaire discusses his philanthropic efforts, particularly through the Bill and Melinda Gates Foundation, where he has already committed $40 billion of his personal wealth. He emphasizes the importance of encouraging other billionaires to contribute to solving global issues. The main focus of his foundation is global health, aiming to reduce child mortality rates, with significant progress made in the past 18 years. He highlights the need for new drugs and vaccines to combat diseases like malaria and diarrhea, and the importance of making these accessible to children worldwide. The conversation also covers the foundation's efforts to improve the US education system, with a focus on supporting teachers and spreading best practices. The billionaire suggests that individuals can contribute by engaging with local schools, mentoring children, and advocating for continued US support in global health initiatives.

Keywords

💡Medal of Freedom

The Medal of Freedom is the United States' highest civilian honor, awarded by the President to individuals who have made significant contributions to the security or national interests of the country, to world peace, or to cultural endeavors. In the script, the recipient mentions receiving this honor at the White House, indicating a significant recognition of their achievements and contributions.

💡Billionaire

A billionaire is an individual with a net worth of at least one billion units of a currency, typically in U.S. dollars. The term is used in the script to describe the financial status of the interviewee, who became one of the youngest self-made billionaires. This status is significant as it underscores the individual's success in technology and entrepreneurship.

💡Software

Software refers to the non-hardware components of a computer system, including programs, protocols, and documentation. In the context of the video, the interviewee's passion for software development is highlighted as the driving force behind their career and eventual wealth accumulation, rather than a primary focus on money.

💡Global Health

Global health is the area of study, research, and practice that places a priority on improving health and achieving equity in health for all people worldwide. The script discusses the interviewee's philanthropic focus on global health, particularly in reducing child mortality rates and developing new drugs and vaccines for diseases like malaria and diarrhea.

💡Philanthropy

Philanthropy is the act of donating money, goods, or time to improve the quality of life for others, often in the form of charitable activities. The interviewee discusses their commitment to philanthropy through the Bill and Melinda Gates Foundation, where they have pledged significant personal funds to address global health and education issues.

💡Education System

The education system refers to the structure and organization through which education is provided in a country or region. In the script, the interviewee expresses concern about the state of education in the United States and the need to improve it, suggesting a focus on teacher support and the dissemination of best practices.

💡Mentorship

Mentorship is a relationship in which a more experienced or knowledgeable person helps to guide a less experienced or less knowledgeable person. The script mentions the importance of mentorship in schools, where individuals can engage with and support the development of students, potentially sharing their professional experiences and insights.

💡Conservative Finances

Conservative finances refer to a cautious and prudent approach to financial management, often characterized by avoiding excessive risk and ensuring financial stability. The interviewee describes their approach to business finances as conservative, reflecting a concern for the well-being of employees and the sustainability of the company.

💡Public-Private Partnerships

Public-private partnerships involve collaborations between government agencies and private sector companies to finance and implement projects and services. While not explicitly mentioned in the script, the discussion of improving education and global health could imply the involvement of such partnerships to achieve broader societal goals.

💡Indulgence

An indulgence, in this context, refers to a luxury or something enjoyed as a special treat, often beyond what is considered necessary. The interviewee mentions owning a Porsche and a plane as personal indulgences, contrasting their generally conservative lifestyle and highlighting the relative insignificance of material possessions in their overall life philosophy.

💡Trampoline Room

A trampoline room is a space, typically indoors, equipped with one or more trampolines for recreational use. The interviewee's mention of an indoor trampoline room in their home serves as an example of a personal indulgence that also provides a fun and active environment for their children, blending luxury with family-oriented values.

Highlights

Guest expresses nervousness about entrance, revealing a humorous side.

Rehearsal footage shown, displaying a light-hearted moment.

Shared experience at the White House receiving the Medal of Freedom.

Discussion about becoming a billionaire at a young age.

Recollection of early life and indifference towards wealth compared to passion for software.

Concerns about financial stability and the responsibility of hiring older employees.

Surprise at the financial success and value of the software business.

Conservative financial approach even after achieving billionaire status.

Purchase of a Porsche as an indulgence after becoming wealthy.

Acquisition of a private plane for travel efficiency.

Disclosure of a trampoline room as a unique home feature.

Commitment of $40 billion to the foundation and encouragement for other billionaires to give.

Focus on global health, particularly reducing child mortality.

Progress in global health, with a significant reduction in child deaths.

Efforts to improve the US education system by supporting teachers.

Strategy to enhance education by leveraging top teachers to mentor others.

Call to action for individuals to engage with local schools and mentor children.

Discussion on the importance of America's role in global health and foreign aid.

Appreciation for the billionaire's philanthropic work and its impact worldwide.

Transcripts

I am so happy to have you here.

This is the first time having you on, so thanks.

So I know you were nervous about the entrance.

I think people feel like they're supposed to dance.

And I was really surprised because I

was here earlier today for your rehearsal

and then you abandoned it.

But we should at least show them the rehearsal

because it was really good.

[MUSIC PLAYING]

[LAUGHING]

[CHEERING]

It was good.

[APPLAUSE]

Your daughter is looking at you like, I've never

seen you dance like that.

Hi.

So the last time we saw each other

it was at the White House.

We both were receiving the Medal of Freedom.

And that was quite a day, wasn't it?

That was an amazing group.

Yeah.

Really, really fun.

So you are here with your daughter who is 21, right?

And you were 21 when you became a billionaire.

Is that right?

Almost, yep.

All right, so around that age.

You were like the youngest person to become a billionaire,

is that right?

Yeah, in terms of earning it on my own, yeah.

Right.

OK.

Which is the most important thing.

So when you were a kid, did you care about money?

Or you just cared about technology

and it just happened?

Mostly I loved software.

I do remember at the private school

I went to there were other kids whose families were better off.

Like they had a Porsche or something.

But it wasn't that big of a deal.

My thing was that I just loved doing software.

I loved hiring people.

And I was stunned when it ended up being so valuable.

Really?

Yeah.

It surprised you?

Yeah.

Because I always had to be careful that we

wouldn't hire too many people.

I was always worried because people

who worked for me were older than me and they had kids.

And I always thought well what if we don't get paid.

Will I be able to meet the payroll?

So I was always very conservative

about the finances.

And then when we did go public, what was I?

30, by then.

Then I was kind of stunned at what it multiplied out to.

Right.

So, when you became a billionaire,

at what point did you start relaxing?

Were you still nervous when you became a billionaire?

Like I got to watch this?

Well I always wanted to have enough money in the bank

so that even if our customers didn't pay us for a year,

we could still keep paying everybody and do the R&D.

So I'd still be viewed as conservative.

I don't have that many things that are extravagant taste

so it didn't change too much.

So nothing really changed.

So you didn't say, oh I'm going to buy a Porsche.

I did.

That I did.

All right.

Yeah.

You did.

All right.

Yeah, that was an indulgence.

And then eventually, for my travel, I got a plane.

Which is a huge indulgence.

So those are my two.

Well not really, because you travel all the time.

So that's important that you have a plane.

So you have a Porsche and a plane and that's it?

Well, in terms of crazy things, yeah.

Yeah.

There's not like any like wild-- like you

didn't build like an aquarium with sharks in it

or something like that?

We have a trampoline room in our house.

Oh wow.

The kids like that.

Indoor trampoline.

I recommend it.

Just one giant trampoline.

Yeah.

Yeah, it's a room with a very high ceiling.

Well yeah, I hope.

That would be cruel if you didn't

put a high ceiling in there.

Go on kids.

All right, so let's talk about this.

So you already put $40 billion of your own money

into your foundation.

Yep.

$40 billion.

And you've kind of encouraged other billionaires

to do this as well.

Because it really is kind of up to the people

to fix the problems in the world, it seems, right?

So what is your main focus right now?

My wife Melinda and I picked global health as our big thing.

The fact that still we have five million kids

who die under the age of five.

Now it was over 10 million when we

got started so there's been huge progress over the last 18

years.

So things like malaria, diarrhea.

Coming up with new drugs and vaccines

and getting them out to all the kids in the world.

That's our main thing.

Our second biggest thing is all in the US,

which is trying to help improve the education system here.

Yeah.

[APPLAUSE]

And how do you do that?

I always think you get what you pay for.

So if you don't pay teachers, because most teachers are

paying out of their own pocket to take care of these students.

So how do you do that?

Well, there are some really phenomenal teachers.

And so the dream is that you could take that top 10%

and have them help the others to get best practices, the best

teaching ideas to spread all over the country.

We're listening to you, obviously $40 billion

does a lot.

And there are other people that are helping.

But what can we do?

What is the best thing that you could say that just one

person can do to help?

Well particularly with schools, the ability

to go to the local public school or charter school

and engage with the kids, mentor kids,

talk about the kind of work you do.

There's huge opportunities there.

With the challenges, say in Africa, part of it

is people's voice.

There's a real question now whether the US takes

this less than 1% of our budget that saves tens of millions

of lives and whether we don't prioritize continuing that.

So it's a hot debate in terms of is it good for America

to be generous and help the rest of the world

live a healthy life.

Well, I mean the fact that you're helping so many people

all around the world.

Because that, to me, is what when you have

that kind of money, it's for.

That's the best thing you can do actually.

You're making such a huge difference.

I'm glad you're a billionaire.

[APPLAUSE]

All right, you can learn more about the Bill and Melinda

Gates Foundation on the website and gatesletter.com.