Bill Gates to Donate Virtually All Wealth, Spend $200 Billion Before Gates Foundation Closes in 2045, Criticizes Musk

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Updated May 8, 2025, 05:23 PM

Bill Gates has announced plans to donate virtually all of his remaining wealth, estimated at $107 billion, to the Gates Foundation, which he co-founded with Melinda French Gates in 2000. The foundation, marking its 25th anniversary, will close permanently on December 31, 2045, earlier than previously planned. Gates aims to accelerate the foundation's work over the next two decades, with the goal of spending over $200 billion to improve global health, reduce poverty, and enhance education. This decision comes as a response to urgent global issues and a desire to maximize the foundation's impact before its closure. In addition to his philanthropy plans, Gates has criticized Elon Musk for cuts to international aid, particularly those affecting the US Agency for International Development (USAID). Gates accused Musk of contributing to the deaths of the world's poorest children due to these funding reductions, specifically citing the impact on a hospital in Mozambique that helps prevent HIV transmission to babies.

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