Bill Gates has recently made headlines by pledging to give away $200 billion through his charitable foundation by the year 2045. In a pointed statement, he accused Elon Musk, the world’s richest man, of "killing the world’s poorest children" by overseeing significant cuts to the U.S. foreign aid budget.
The 69-year-old co-founder of Microsoft announced that he is accelerating his plans to divest nearly all of his fortune and will close the foundation on December 31, 2045, which is earlier than previously intended. Gates expressed hope that the funds would be instrumental in eradicating diseases such as polio and malaria, ending preventable deaths among women and children, and reducing global poverty.
This announcement comes in the wake of recent moves by various governments, including the Trump administration, to slash international aid budgets that are critical for preventing deadly diseases and famine. The cuts to U.S. foreign aid have been managed by Musk’s Department of Government Efficiency (DOGE), with reports indicating that around 80% of USAID programs are slated for reduction. In fiscal 2023, USAID spent $44 billion worldwide, and these cuts could have devastating effects.
"The picture of the world’s richest man killing the world’s poorest children is not a pretty one," Gates told the Financial Times. He warned in an interview with Reuters that these funding cuts could lead to a stark reversal of decades of progress in reducing mortality rates over the next four to six years. "The number of deaths will start going up for the first time... it’s going to be millions more deaths because of the resources," he cautioned.
Gates emphasized that despite the financial strength of his foundation, meaningful progress in global health initiatives cannot be achieved without substantial government support. He acknowledged some positive responses from African governments reallocating budgets in light of the cuts but reiterated that critical programs, such as polio eradication, cannot proceed without U.S. funding.
Marking the foundation's 25th anniversary, Gates reflected on its journey since its inception in 2000, which he started with his then-wife Melinda French Gates and later joined by billionaire investor Warren Buffett. Since its establishment, the Gates Foundation has given away an impressive $100 billion, helping to save millions of lives and supporting initiatives like the vaccine alliance Gavi and the Global Fund to Fight AIDS, Tuberculosis, and Malaria.
Gates, whose current net worth stands at approximately $108 billion, anticipates that the foundation will spend around $200 billion by 2045, depending on market conditions and inflation. He noted that the foundation's annual budget is projected to reach $9 billion by 2026, with expectations of it rising to about $10 billion annually thereafter.
In a recent statement, Gates highlighted the need for other wealthy individuals to consider increasing their philanthropic efforts. "I hope other wealthy people consider how much they can accelerate progress for the world’s poorest if they increased the pace and scale of their giving, because it is such a profoundly impactful way to give back to society," he stated.
The relationship between Gates and Musk has been tumultuous, transitioning from initial agreement on philanthropy to public clashes. In response to Gates' comments about U.S. aid cuts, Musk tweeted that "Gates should be in prison," although he later deleted the tweet. Musk's representatives did not respond immediately to requests for comment on the matter.
Gates has also communicated with President Trump multiple times since he took office on January 20, 2025, emphasizing the critical importance of continued investment in global health. He remarked, "The world does have values. That's what my parents taught me," underscoring his belief in the moral imperative to support the most vulnerable populations.
As Gates prepares for the future of his foundation, he remains acutely aware of the challenges posed by reduced government funding for international aid. His commitment to philanthropy and the health of the world's poorest children reflects both a personal mission and a broader appeal to the wealthiest individuals and nations to prioritize humanitarian efforts.
With the closure of the foundation set for 2045, Gates aims to ensure that his legacy is one of giving rather than accumulation, stating, "There are too many urgent problems to solve for me to hold onto resources that could be used to help people." As the world watches the unfolding drama between these two tech titans, the stakes for global health and humanitarian aid have never been higher.
