Bill Gates to Donate $200 Billion Over Next 20 Years

SEATTLE, WA — Bill Gates announced Thursday that he will donate 99% of his personal fortune to the Gates Foundation over the next 20 years. This commitment will allow the foundation to spend an additional $200 billion on global health and education initiatives before it closes in December 2045.

Gates, currently worth an estimated $108 billion, revealed his plans during an exclusive interview with CBS Mornings. He emphasized that by spending his wealth sooner, he hopes to save tens of millions of lives. ‘By deciding to spend all this money in the next 20 years, we can get a lot more done,’ he stated.

He cited a quote from Andrew Carnegie‘s 1889 essay, stating, ‘the man who dies thus rich dies disgraced,’ explaining his motivations for giving away his wealth. Gates believes there are too many urgent problems in the world to hold onto resources that could help others.

The Gates Foundation has already spent $100 billion since its inception in 2000 and aims to continue its focus on preventing deaths from infectious diseases, improving maternal health, and enhancing education worldwide. Gates highlighted the alarming statistics from UNICEF, noting that 4.8 million children under the age of 5 died in 2023, a number he fears may rise with funding cuts.

Gates has expressed concerns about recent reductions in U.S. and European foreign aid, which could impact progress in global health. He mentioned his discussions with President Donald Trump regarding the foundation’s initiatives and the need for continued investment in health programs.

Despite the challenges ahead, Gates expressed optimism about his foundation’s impact while recognizing the potential barriers stemming from geopolitical conflicts and funding reductions. ‘It’s going to require renewing that commitment of those who are well off to help those who are in the greatest need,’ he added.

As Gates enters this new chapter, he is keen to see the effects of his philanthropic efforts and hopes that it inspires other wealthy individuals to contribute to global solutions.