Bill Gates says he'll give away nearly all his money by 2045. Facebook
Bill Gates has made a major announcement. He plans to give away 99% of his wealth in the next 20 years. He wants to speed up his charitable work through the Gates Foundation. He says the foundation will stop operating by 2045.
In a blog post, Gates wrote, “People will say many things about me when I die, but I am determined that ‘he died rich’ will not be one of them.”
His Giving Journey So Far
Gates, 69, says his foundation has already donated $100 billion to global health and development causes. He believes it can give another $200 billion over the next 20 years. The exact amount will depend on how the economy performs.
His giving has roots in a powerful idea. Gates mentioned an 1889 essay by Andrew Carnegie titled The Gospel of Wealth. Carnegie wrote, “The man who dies thus rich dies disgraced.” Gates agrees.
A Change in Plan
At first, Bill and Melinda Gates wanted their foundation to keep running long after their deaths. Now, Gates wants the foundation to finish its mission sooner. In an interview, he said, “It’s really about the urgency.” He believes the money will do more good now than later. Gates added, “We can spend a lot more if we’re not trying to be perpetual.”
Even after giving away 99%, Gates may still be a billionaire. According to financial reports, his current net worth is around $108 billion. He shared a chart in his blog showing this number dropping to nearly zero by 2045.
Clear Goals for the Foundation
Gates laid out three major goals for his foundation:
- Stop preventable diseases that kill mothers and children.
- End infectious diseases like malaria and measles.
- Help millions escape poverty.
He also spoke out against rich countries for cutting back on foreign aid. Gates criticized the US, UK, and France for reducing their support to poorer nations.
He wrote, “It’s unclear whether the world’s richest countries will continue to stand up for its poorest people. But the one thing we can guarantee is that the Gates Foundation will support efforts to help people and countries pull themselves out of poverty.”
Clashing With Elon Musk
Gates also criticized Elon Musk. He accused Musk of cutting aid programs that helped save lives. He said some decisions led to fewer funds for hospitals and clinics in poor areas. For example, a hospital in Mozambique lost money that helped prevent HIV. Gates blames Musk’s cost-cutting for putting children at risk.
He told a newspaper, “I’d love for [Musk] to go in and meet the children that have now been infected with HIV because he cut that money.”
The issue began when Donald Trump wrongly said aid money was being used to buy condoms for Hamas. Musk repeated the false claim but later admitted it was a mistake. Still, the cuts continued.
