Bill Gates Plans to Donate $200 Billion by 2045

Bill Gates has announced an ambitious plan to donate the vast majority of his fortune—approximately $200 billion—through the Bill & Melinda Gates Foundation by 2045. Marking the foundation’s 25th anniversary, the billionaire philanthropist said he intends to close the organization on December 31, 2045, years ahead of its original timeline.

According to Gates, the money will be used to further his life’s mission: eradicating diseases like malaria and polio, reducing preventable deaths among women and children, and tackling extreme poverty worldwide.

Musk Criticized Over U.S. Aid Budget Cuts

In a rare and sharp critique, Gates called out Elon Musk, accusing the Tesla and SpaceX CEO of facilitating major cuts to U.S. foreign aid. Gates alleged that Musk’s Department of Government Efficiency (DOGE) was responsible for dismantling vital humanitarian programs, including the U.S. Agency for International Development (USAID), which spent $44 billion globally in 2023.

He stated, “The picture of the world’s richest man killing the world’s poorest children is not a pretty one,” during an interview with the Source.

Dire Warning Over Global Mortality Rates

In a separate interview with Reuters, Gates warned that the significant decrease in global aid spending could reverse decades of progress in reducing child and maternal mortality. He predicted that in the next four to six years, the world could see millions of preventable deaths due to a lack of resources.

“For the first time in decades, the number of deaths will begin to rise,” he said, emphasizing the inability of private philanthropy alone to bridge the funding gap left by government cuts.

Foundation Spending to Increase Substantially

To offset some of the impact from shrinking foreign aid budgets, Gates said his foundation's annual spending will rise to $9 billion by 2026 and reach about $10 billion each year thereafter. He reiterated that while the foundation can do a lot, solving systemic global challenges requires strong government involvement.

“There are too many urgent problems to solve for me to hold onto resources that could be used to help people,” Gates wrote on his official blog.

No Recent Appeals to Musk

When asked if he had directly approached Elon Musk to reconsider the aid cuts, Gates said the matter is now in the hands of Congress. Their previously shared vision on philanthropy appears to have diverged sharply in recent years.

In response to Gates' remarks, Musk called him “a huge liar” in a post on his X (formerly Twitter) account, but offered no further elaboration. Musk's representatives declined to comment.

U.S. Aid Cuts and Their Global Consequences

Gates emphasized the critical role of U.S. funding in eradicating diseases and fighting famine, particularly in developing countries. He pointed out that around 80% of USAID programs face elimination under the current administration.

Despite the grim outlook, Gates expressed hope that governments, including the U.S., will eventually recommit to funding life-saving international programs. “I think governments will come back to caring about children surviving,” he said.

Legacy of the Gates Foundation

Since its founding in 2000 by Bill and Melinda Gates, the foundation has disbursed over $100 billion to global health, education, and poverty reduction initiatives. It has backed influential programs like Gavi, the Vaccine Alliance, and the Global Fund to Fight AIDS, Tuberculosis, and Malaria.

Gates emphasized that the foundation will cease operations after spending approximately 99% of his personal fortune, with the final total subject to market fluctuations and inflation. Originally, the foundation was set to operate long after the founders’ deaths, but the new plan accelerates its sunset timeline dramatically.

Upholding Family Values

Reflecting on his motivations, Gates credited his parents for instilling in him a sense of responsibility to help others. “The world does have values. That’s what my parents taught me,” he said.

Despite facing criticism regarding the foundation’s influence and Gates himself being the subject of conspiracy theories during the pandemic, the Microsoft co-founder remains committed to global health causes and long-term development.