In a bold commitment to end global poverty, billionaire philanthropist Bill Gates has vowed to donate nearly his entire fortune an estimated $200 billion by 2045. Marking the 25th anniversary of the Bill & Melinda Gates Foundation, Gates announced that the foundation will distribute 99% of its endowment and formally close by the end of that year.
Since its founding in 2000, the Gates Foundation has already contributed $100 billion toward improving global health, vaccine distribution, education, and poverty alleviation. “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,” the 69-year-old Gates declared on his personal website.
Gates Takes Aim at Musk and Foreign Aid Cuts
Gates sharply criticized Elon Musk, accusing him of playing a key role in slashing U.S. foreign aid during his tenure as head of the Department of Government Efficiency under the Trump administration. Gates blamed Musk for severely weakening programs run by USAID, including vital initiatives in child vaccination and emergency food support.
“The picture of the world’s richest man killing the world’s poorest children is not a pretty one,” Gates told the Financial Times, highlighting the growing tensions between the two billionaires, who once shared common ground on philanthropy.
Governments Still Crucial, Says Gates
Gates emphasized that philanthropy, no matter how large-scale, cannot replace government support—especially in global health campaigns like the eradication of polio. While he praised African governments for reallocating resources in response to shrinking Western aid, he warned that sustained support from wealthy nations remains critical.
With significant reductions in international aid from countries such as the U.S., U.K., and France, Gates questioned whether the global community’s wealthiest countries would continue to show up for the world’s most vulnerable. “There are too many urgent problems to solve for me to hold onto resources that could be used to help people,” he said.
Looking Ahead: The Final Years of the Gates Foundation
The foundation’s annual budget is expected to rise to $9 billion by 2026, with its final years focused on maximizing impact. Despite past criticism regarding its outsized influence and accountability—especially during the COVID-19 crisis—Gates remains committed to its mission.
Encouraging other billionaires to follow his lead, he concluded: “I hope other wealthy people consider how much they can accelerate progress for the world’s poorest if they increased the pace and scale of their giving.”
