Bill Gates, co-founder of Microsoft and the Bill & Melinda Gates Foundation, has pledged to donate nearly $200 billion to fight poverty and disease by 2045, after which the foundation will close. His goal is to accelerate solutions in global health, education, and economic development during his lifetime.
This bold move comes in response to a dramatic reduction in government foreign aid, which Gates warns could reverse decades of progress. He emphasized that while private philanthropy can’t fully replace public support, his foundation will step in to help bridge the growing gap—especially in areas where children and families are at the highest risk.
Gates expressed concern about declining U.S. foreign aid budgets and criticized recent political decisions that led to an 80% cut in funding for international development. He believes this drop could cost millions of lives due to diminished access to vaccines, clean water, and basic healthcare in low-income countries.
To counteract this trend, the Gates Foundation will increase its annual spending to $10 billion by 2026. The foundation’s efforts will focus on eradicating preventable diseases, expanding access to quality maternal and child healthcare, and strengthening systems to combat hunger and poverty.
Gates also called on fellow billionaires to intensify their giving, encouraging greater participation in long-term philanthropic commitments. This is in line with his earlier involvement in the Giving Pledge initiative, aimed at encouraging the world’s wealthiest individuals to contribute a majority of their wealth to charitable causes.
By accelerating his donations and closing the foundation by 2045, Gates hopes to ensure that lasting change happens sooner rather than later—making a powerful statement about using wealth for global good.
Source: Reuters