Bill Gates says he will give away almost all of his money over next 20 years

During the 25th anniversary celebration of the Gates Foundation, Bill Gates has announced that he was planning to give away “virtually all” of his wealth within the next 20 years. In all, he expects to distribute approximately $200 billion until the foundation shuts down on December 31, 2045, which as The New York Times notes is decades before originally intended. The Gates Foundation has funded several causes since it was founded in the year 2005 by Bill and his then-wife Melinda French Gates, including those dedicated to the eradication of and to supporting the sufferers of malaria, tuberculosis and HIV.

It has also funded causes focused on gender equality, maternal and child health, as well as family planning worldwide. During the COVID-19 pandemic, it committed $2 billion to various response efforts. The foundation’s other initiatives include agricultural development, as well as water, sanitation and hygiene projects. It is not without its controversies, however, and was previously accused of marginalizing researchers who did not support Gates-backed educational policies, such as small schools and charter schools. It was also criticized for deferring too much to Gates’ views and for lacking enough internal debate between its members.

In an interview with The Times, Gates said that he and his team believe they can achieve their humanitarian goals within a much shorter period than they originally thought. It seems as if the foundation intends to bridge gaps left after the pandemic and to fill the hole the current US administration will be leaving after its massiv e cuts to foreign aid. One of things he spoke about specifically is the U.S.A.I.D. budget cuts, which killed the money meant for polio and HIV research and medicine aid. Gates called out Elon Musk, specifically, who cut the agency’s budget “because he didn’t go to a party that weekend.” While he admitted that Musk could still end up being a great philanthropist if he gives away his wealth later on or after his death, Gates said that for now, “the world’s richest man has been involved in the deaths of the world’s poorest children.”