Gates Foundation Commits Unprecedented $200B Prior to 2045 Closure
In celebration of its 25th anniversary, Bill Gates has declared an intention to donate nearly all of his remaining $168 billion fortune over the forthcoming two decades. This will empower the Gates Foundation to allocate $200 billion prior to its cessation on December 31, 2045. This pledge signifies the most substantial philanthropic commitment in contemporary history, doubling the foundation’s expenditure from its initial 25 years when it disbursed $100 billion.
This expedited timeline emerges in the wake of global aid funding reductions, as governments around the globe are drastically cutting international development budgets. Gates expressed criticism towards the Trump administration’s decision to eliminate USAID. He stated that the foundation’s primary focus will be on terminating preventable deaths of mothers and infants, eradicating infectious diseases, and elevating millions from poverty.
The lion’s share of the funding will be directed towards Africa, with the foundation preserving an annual budget of $9 billion. “There are too many urgent problems to solve for me to hold onto resources that could be used to help people,” Gates penned in his announcement.
The foundation has already made significant strides, contributing to the saving of 82 million lives through vaccine initiatives and disease prevention programs.
Source: Gates Foundation