- Bill Gates has announced he’ll give away $200 billion through his foundation by 2045.
- He accused Elon Musk of worsening global child mortality by cutting U.S. foreign aid.
- The Gates Foundation is set to close by the end of 2045, earlier than initially planned.
Bill Gates has revealed plans to distribute nearly all of his wealth — around $200 billion — through the Gates Foundation by December 31, 2045. Speaking on the foundation’s 25th anniversary, Gates said the timeline has been shortened to ensure the money goes where it’s needed most, while he’s still alive. The initiative targets major global problems such as malaria, polio, child mortality, and poverty.
Musk Blamed for Child Deaths Due to Foreign Aid Cuts
In a sharp rebuke, Gates criticized Elon Musk, accusing him of endangering millions of vulnerable lives through his administration’s deep foreign aid cuts. He said Musk, now overseeing the Department of Government Efficiency (DOGE), is behind the dismantling of U.S. programs like USAID, which had a budget of $44 billion in 2023, with about 80% set to be slashed.
“Millions Could Die,” Gates Warns
Gates warned that cutting off funding for global health could reverse decades of progress, especially in the fight against child deaths and disease. In an interview with Reuters, he expressed fears that these changes would lead to millions of avoidable deaths in the next few years. He added that no private foundation, including his own, can fill the gap left by shrinking government aid.
Foundation Budget to Soar Amid Crisis
The Gates Foundation’s annual spending is projected to rise to $9 billion by 2026 and hit $10 billion yearly thereafter. Despite this scale, Gates says government partnerships remain critical. He emphasized that private donors alone can’t solve massive global issues like disease outbreaks and famine.
Musk Responds With Harsh Words
Responding to Gates’ criticism, Musk dismissed the claims as false. “Gates is a huge liar,” Musk wrote on his platform X (formerly Twitter), reacting to a video of Gates discussing the aid cuts. Musk’s team did not provide any further comments. The two billionaires, who once shared common ground on philanthropy, have since drifted apart over ideological differences.
Values Shaped by Family and Purpose
Despite criticism — including conspiracy theories and concerns over his foundation’s influence — Gates remains committed to his mission. “There are too many problems in the world for me to sit on my fortune,” he wrote on his website. He also shared that his values were shaped by his parents, who taught him the importance of helping others.
History of Global Impact
Since 2000, the Gates Foundation has donated over $100 billion, backing vital health programs like Gavi and the Global Fund to Fight AIDS, Tuberculosis, and Malaria. Gates said the foundation will end operations once it spends 99% of his personal wealth. The final amount may change depending on market performance and inflation.
Africa’s Effort Praised, But U.S. Role Still Vital
Gates acknowledged that some African countries have tried to respond to the crisis by redirecting local budgets. However, he stressed that polio eradication and other goals still require strong support from wealthier nations like the United States.
