The billionaire elaborated on this point, saying that the purpose of the test is to quickly identify carriers of the virus and isolate them before the virus begins to spread.
However, that is hard to do considering the lengthy amount of time that it takes the test results to return.
Bill Gates went further by saying that people need to get access to their results sooner than they currently do in order to change their behaviour and limit contact with people to prevent the spread of the virus.
The Bill and Melinda Gates Foundation has donated hundreds of millions of dollars to the treatment and vaccine research for the eradication of COVID-19.
The billionaire said all of this during an interview with CNBC, adding: “The simplest thing, which has to do with such insanity, is you should not reimburse somebody for getting a test that it takes more than 48 hours to get the result back.
“That test is a complete waste. And to all these numbers about how much we test, the majority is just complete waste.”
He also added that he thinks it is insane that people have to pay for a test that could take up to three days and sometimes a week before the results are available.