Watan-Billionaire Bill Gates pledged today, Thursday, to donate nearly all of his personal fortune within the next two decades. He said that the world’s poorest populations will receive approximately $200 billion through his foundation at a time when governments across the globe are reducing international aid.
Gates, 69, co-founder of Microsoft and one of the world’s most notable philanthropists, announced he would accelerate his plans to distribute his wealth and close the Gates Foundation by December 31, 2045.
On his personal website, he wrote:“People will say many things about me when I die, but I’m determined that ‘he died rich’ won’t be one of them.”
He added:“There are so many urgent problems that need solving, and I can’t justify holding on to resources that could be used to help people.”
Gates Urges Global Action as Foundation Nears $200 Billion Legacy
In a veiled criticism of former U.S. President Donald Trump’s cuts to foreign aid, Gates emphasized his commitment to reducing preventable deaths of newborns, children, and mothers, eradicating diseases like polio, malaria, and measles, and fighting poverty.
He remarked:“It’s unclear whether the world’s wealthiest nations will continue to stand up for the poorest,” referring to cuts in contributions from major donors including the U.S., UK, and France.
Despite the Gates Foundation’s vast financial resources, Gates insisted that real progress is impossible without government support. He acknowledged some governments had reallocated aid budgets effectively, but emphasized that polio eradication, for example, cannot be achieved without U.S. funding.
The announcement coincides with the 25th anniversary of the Gates Foundation, which Gates founded in 2000 with his then-wife Melinda French Gates, later joined by investor Warren Buffett.
“I’ve come a long way since being a kid who started a software company with my middle school friend,” Gates reflected.
Since its founding, the Gates Foundation has donated $100 billion, saving millions of lives and supporting major initiatives like Gavi (the Vaccine Alliance) and the Global Fund to Fight AIDS, Tuberculosis, and Malaria.
Gates said the foundation would shut down after spending 99% of his personal fortune. Originally, the foundation was expected to operate for several decades beyond the founders’ deaths.
With a current estimated net worth of $108 billion, Gates expects the foundation to spend around $200 billion by 2045, with the final number dependent on market conditions and inflation.
Power, Scrutiny, and a Call to the Wealthy: Gates Defends Global Health Role
Already a dominant force in global health, the foundation’s annual budget is projected to reach $9 billion by 2026.
However, it has faced criticism for wielding outsized influence in global health with limited accountability, even from institutions like the World Health Organization.
Gates himself has been the subject of conspiracy theories, particularly during the COVID-19 pandemic.
He also confirmed recent conversations with Donald Trump on the importance of continuing investments in global health initiatives.
Gates concluded:“I hope other wealthy people consider how they can accelerate the pace and scale of their giving. It’s a powerful way to give back to society and drive progress for the world’s poorest.”
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