LONDON – Tech icon and philanthropist Bill Gates has committed to donating nearly all his wealth within the next 20 years, aiming to channel $200 billion toward global health and poverty efforts before closing the doors on the Bill & Melinda Gates Foundation by 2045.
In a powerful and personal statement, Gates said:
“There are too many urgent problems in the world for me to hold on to this fortune.”
Marking the foundation’s 25th anniversary, Gates emphasized that his mission now is to ensure his billions are used to save lives, reduce poverty, and fight diseases like malaria, polio, and measles—especially as global aid funding faces sharp cuts.
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But Gates didn’t stop at philanthropy. He took a direct swipe at Elon Musk, calling out the billionaire and Trump ally for enabling deep slashes in U.S. foreign aid programs.
“The idea of the world’s richest man cutting lifelines to the world’s poorest children is heartbreaking,” Gates told Financial Times, referring to Musk’s influence over aid-related policy shifts.
The cuts have severely impacted USAID, a key agency in funding everything from childhood vaccinations to emergency food programs. While Gates and Musk once shared a mutual respect for giving, their paths—and philosophies—have clearly diverged.
A Fortune with a Mission
Gates, who co-founded Microsoft and is currently valued at over $100 billion, said he plans to accelerate his giving in the coming years, with the foundation’s spending projected to reach $9 billion annually by 2026.
Since 2000, the Gates Foundation has already contributed more than $100 billion to causes like Gavi (the vaccine alliance) and the Global Fund. Its impact spans health, education, poverty reduction, and more. But Gates says it’s not enough without global cooperation.
He applauded African countries for reallocating resources to offset international aid losses but warned that ending global health threats like polio will require U.S. leadership and investment.
A New Era for Billionaire Philanthropy
In a reflective moment, Gates noted how far he’s come since founding Microsoft with a childhood friend:
“From a teenage coder to leading a global health foundation—it’s been quite a journey.”
He ended with a challenge to fellow billionaires:
“If you’ve built immense wealth, you can also build immense impact. The world’s poorest need us now more than ever.”
Though his foundation has faced scrutiny over its vast influence and lack of oversight, Gates remains firm in his mission—and hopes others with resources will follow suit.
