American billionaire Bill Gates has bought 25,000 acres of land in south-west Arizona for construction of smart city. As per KPNX, the co-founder of Microsoft has committed $80,000 million for the project in the west valley through one of his investment companies Belmont Partners. “Belmont will create a forward-thinking community with a communication and infrastructure spine that embraces cutting-edge technology, designed around high-speed digital networks, data centers, new manufacturing technologies and distribution models, autonomous vehicles and autonomous logistics hubs,” the firm said in an officially released statement.
The company further said that about 3,800 acres of land will be used for commercial, retail space and office. Around 470 acres will be used for public schools. The firm will also construct 80,000 residential units, the report added. “Comparable in square miles and projected population to Tempe, Arizona, Belmont will transform a raw, blank slate into a purpose-built edge city built around a flexible infrastructure model,” Belmont Properties said further.
Meanwhile, Bill Gates on Monday announced an investment of $50 million to fund research for the treatment of Alzheimer’s disease. Writing on his blog, Bill gates said, “The longer you live, the more likely you are to develop a chronic condition. Your risk of getting arthritis, Parkinson’s, or another non-infectious disease that diminishes your quality of life increases with each year. But of all the disorders that plague us late in life, one stands out as a particularly big threat to society: Alzheimer’s disease.