Bill Gates to donate ‘virtually all’ his wealth earlier than planned

‘There are too many urgent problems to solve for me to hold onto resources that could be used to help people,’ Gates said in a statement. ‘That is why I have decided to give my money back to society much faster than I had originally planned’.

It also goes without saying that it will be great for Gates to be alive to witness the positive impact his immense wealth is having on so many lives. Gates said he expects the foundation to spend more than $200 billion USD through to 2045, when the charity will cease operation for good. This figure represents doubling of its current spending levels.

In the coming years, the organisation has said it will focus on three key goals: curbing preventable deaths among mothers and babies, addressing lethal infectious diseases, and lifting millions of people out of poverty.

Gate’s announcement comes amid widespread cuts to global health efforts. Most notably, US President Donald Trump has drastically cut overseas health funding and halted health services and care programmes with the help of Elon Musk, something Gates has been openly critical of.

‘The picture of the world’s richest man killing the world’s poorest children is not a pretty one,’ Gates said.

Around $12 billion in US spending on global health has now been made unavailable thanks to Trump, a massive cut that experts have warned could lead to 25 million people dying over the next 15 years due to HIV, tuberculosis (TB), maternal health complications, or in early childhood.

‘I’d love for [Musk] to go in and meet the children that have now been infected with HIV because he cut that money,’ Gates said.

This loss has been compounded by European nations like the UK, Netherlands, Sweden, Belgium, and France all cutting their budgets for global health and foreign aid within the last year.

‘It’s unclear whether the world’s richest countries will continue to stand up for its poorest people,’ said Gates.

‘But the one thing we can guarantee is that, in all of our work, the Gates Foundation will support efforts to help people and countries pull themselves out of poverty,’ he continued. ‘There are just too many opportunities to lift people up for us not to take them.’

And how refreshing it is to learn that a billionaire is putting their money where their mouth is… and using their wealth for good.