Bill Gates Commits to Donate $200 Billion by 2045, Criticizes Cuts to Global Aid

Bill Gates has announced a significant acceleration of his philanthropic efforts, pledging to donate over $200 billion through the Bill & Melinda Gates Foundation by 2045. This commitment aims to address pressing global challenges such as poverty, malnutrition, polio, and childhood mortality. Gates plans to donate 99% of his estimated $108 billion fortune, with the foundation closing its operations by December 31, 2045.

Doubling the Foundation’s Impact

The Gates Foundation, established 25 years ago, has already contributed over $100 billion to global health initiatives. With this new pledge, the foundation aims to double its spending over the next two decades, focusing on areas such as eradicating diseases, improving nutrition, and reducing preventable deaths among women and children. Gates emphasized the urgency of stepping up funding due to recent cuts in global aid by wealthy governments, warning of potential reversals in progress against diseases and child mortality.

Criticism of U.S. Foreign Aid Cuts

In his announcement, Gates criticized Elon Musk for his role in substantial cuts to the U.S. foreign aid budget, arguing that Musk’s actions, including reducing 80% of USAID programs, threaten the lives of the world’s poorest children. Gates warned that such funding cuts may reverse decades of progress in global health by increasing mortality rates worldwide.

The Role of AI in Philanthropy

Gates also highlighted the potential of artificial intelligence in advancing philanthropy. He expressed keen interest in leveraging AI to tackle issues like malnutrition and developing gene therapy for HIV. Gates called on other billionaires to increase their charitable contributions and envisioned future leaders using innovation to further equity and global health. Bill Gates’ unprecedented commitment to donate over $200 billion by 2045 underscores his dedication to addressing global inequalities and improving health outcomes worldwide. As the Gates Foundation prepares to close its doors in two decades, the accelerated funding aims to make a lasting impact on the world’s most pressing challenges.

Written By Fortune Davidson