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Bill Gates tells Abu Dhabi conference he won't run for office, would advise US president

Microsoft founder Bill Gates insists he will never run for political office.

Gates told the Abu Dhabi Media Summit on Tuesday that he can have more impact with the Bill & Melinda Gates Foundation than he would as a politician.

He said his current role doesn't require him to "try to get elected," nor does it "have term limits of eight years," as do some elected American offices.

Gates said he expects to work full time for the rest of his life in philanthropy, but he would be happy to offer the U.S. president his advice.

In a wide-ranging talk, Gates discussed his foundation's work fighting polio, and he encouraged the Gulf's entrepreneurs to develop technology that helps both rich and poor.