Bill Gates has announced that he will give away virtually all of his wealth, over $200 billion, within the next 20 years. The Gates Foundation, which he co-founded in 2000, will close permanently on December 31, 2045.
“People will say a lot of things about me when I die, but I am determined that ‘he died rich’ will not be one of them,” Gates wrote in a blog post.
This step represents a significant speeding up of the foundation’s schedule.
Gates also used the moment to criticize Elon Musk over what he described as devastating cuts to global aid.
Foundation to double its giving
In the last 25 years, the
Gates Foundation
has disbursed more than $100 billion towards global health, education, and poverty alleviation.
With this new commitment, the foundation plans to double its giving, allocating over $200 billion in the next two decades.
Gates mentioned that this choice was influenced by Andrew Carnegie’s 1889 essay titled “The Gospel of Wealth,” where he posits that the affluent should use their wealth to benefit society.
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Gates slams Musk’s USAID cuts as deadly
Gates accused
Elon Musk
of acting “through ignorance” when he used his so-called Department of Government Efficiency (DOGE) to slash funding to the U.S. Agency for International Development. “The picture of the world’s richest man killing the world’s poorest children is not a pretty one,” Gates told the
Financial Times
.
He mentioned that the abrupt reduction in aid resulted in essential items such as life-preserving food and medicines with approaching expiration dates being stockpiled in warehouses. He also cautioned about the potential resurgence of diseases including measles, HIV, and polio. According to Gates, Musk should “throw it into the woodchipper,” alluding to USAID.
He also alleged that Musk had revoked funding from a hospital in Gaza Province, Mozambique, mistakenly believing it was referring to Gaza in the Middle East. “It would be great if he could visit and see the children who have contracted HIV due to his decision to cut off that financial support,” Gates stated.
AI will lead the subsequent surge in healthcare innovation.
Gates views artificial intelligence as a revolutionary power.
All the intelligence will reside within the AI,” he stated. “You’ll have access to a personal physician as competent as someone with a fully devoted doctor—and potentially superior to what even affluent nations offer.
In addition to his work with the foundation, Gates mentioned that he plans to keep funding
clean energy
projects and Alzheimer’s research.
A clear vision
In his blog, Gates reiterated that the foundation’s fundamental belief is that one’s birthplace shouldn’t dictate their opportunities in life.
He pointed to previous achievements such as Gavi and the Global Fund, mentioning that the success with the rotavirus also supports this approach.
vaccine
Developed with assistance from the foundation, this initiative has reduced child deaths caused by diarrhea by 75 percent.
“Given this clear and pressing need, we think we can have the greatest impact on the largest number of people,” Gates stated.
He stated that the organization will keep addressing unmet needs, particularly as Western administrations reduce essential support.
