Bill Gates Believes Another Recession Is a 'Certainty'

Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., center right, and Bill Gates, billionaire and co-founder of the Bill and Melinda Gates Foundation, watch a newspaper toss at the Berkshire Hathaway annual meeting in Omaha, Nebraska on May 6, 2017. Daniel Acker—Bloomberg via Getty Images

It’s been 10 years since a financial crisis in the U.S. escalated into a global recession. And billionaire philanthropist and Microsoft co-founder Bill Gates believes another is coming.

He’s just not sure when.

During his sixth Reddit “Ask Me Anything” session Tuesday, Gates was asked: “Do you think in the near future, we will have another financial crisis similar to the one in 2008?”

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His response was short and notable.

“Yes. It is hard to say when but this is a certainty. Fortunately we got through that one reasonably well. Warren has talked about this and he understands this area far better than I do.”

Gates is referring to fellow billionaire and friend Warren Buffett, the famed investor and Berkshire Hathaway chief. Buffett and Gates founded The Giving Pledge in 2010, a campaign to encourage wealthy people to contribute a majority of their wealth to philanthropic causes.

Gates finished his answer on a rosier note.

“Despite this prediction of bumps ahead I am quite optimistic about how innovation and capitalism will improve the situation for humans everywhere,” Gates wrote on Reddit.

Gates answered dozens of questions in this latest AMA, including the cryptocurrencies and health care.

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