Microsoft co-founder pledges nearly all personal wealth to fight poverty, disease, and inequality worldwide.
Bill Gates has announced plans to donate nearly his entire fortune—estimated at $108 billion—by 2045 through the Bill & Melinda Gates Foundation, aiming to channel around $200 billion to global health, poverty reduction, and education initiatives.
The philanthropic move comes as many governments, including the United States, slash international aid budgets. In a sharp rebuke, Gates criticised fellow billionaire Elon Musk and his influence on U.S. foreign policy under President Donald Trump, claiming such actions have endangered the world’s poorest populations.
Gates Accuses Elon Musk of Undermining Global Aid
Speaking to the Financial Times, Gates said, “The image of the world’s richest man contributing to the deaths of the world’s poorest children is disturbing.”
He blamed Musk’s leadership of the Department of Government Efficiency for orchestrating deep cuts to the U.S. Agency for International Development (USAID), which had historically funded life-saving programs such as childhood vaccines, food aid, and maternal health.
Gates and Musk, once aligned on the need for billionaire philanthropy, have since diverged on key global issues, including public health and poverty alleviation.
$200 Billion Pledge Aims to Tackle Polio, Malaria, and Global Poverty
In a blog post, Gates reiterated his long-standing mission to reduce inequality and eradicate preventable diseases such as polio, malaria, and measles.
“People may say many things about me when I’m gone, but ‘he died rich’ won’t be one of them,” the 69-year-old wrote. “There are too many urgent problems to justify holding onto this wealth.”
He emphasised that despite the foundation’s vast resources, long-term success depends on continued governmental support. He warned that efforts to eradicate diseases like polio could collapse without U.S. funding.
Foundation to Close by 2045 After Donating Nearly All of Gates’ Wealth
The Bill & Melinda Gates Foundation, established in 2000, marks its 25th anniversary this year. Gates said it will close after spending 99% of his fortune. The original plan was for the foundation to operate for decades beyond the founders’ lifetimes.
So far, the foundation has donated $100 billion to causes such as global health, vaccine access, and disease prevention, supporting groups like Gavi, the Vaccine Alliance, and the Global Fund to Fight AIDS, Tuberculosis and Malaria.
By 2026, its annual budget is projected to reach $9 billion, making it one of the most influential philanthropic organisations in the world.
Criticism and Controversy Over Gates Foundation’s Influence
Despite its impact, the foundation has faced scrutiny for its disproportionate influence over global health policy, often without sufficient oversight. Gates himself was a frequent target of conspiracy theories, especially during the COVID-19 pandemic.
Nonetheless, he has continued urging the wealthy elite to step up their giving. He recently held talks with President Trump, encouraging sustained U.S. investment in global health and humanitarian aid.
Gates Encourages Billionaires to Accelerate Philanthropy
“I hope other wealthy individuals consider how much they can accelerate progress for the world’s poorest by increasing the pace and scale of their giving,” Gates wrote. “It’s one of the most effective ways to give back to society.”
