Bill Gates to Donate $200 Bln to Global Poverty by 2045

Bill Gates has announced an ambitious plan to accelerate the distribution of his wealth, pledging over $200 billion to the Gates Foundation to support global efforts against poverty and disease.

The Microsoft co-founder made the commitment in a recent open letter, stating his intention to allocate the majority of his remaining fortune before 2045.

Gates emphasized that significant progress can be made within the next two decades and expressed his desire to see tangible advancements in global health and education during this period.

Since its establishment in 2000, the Gates Foundation has already spent about $53.8 billion on initiatives aimed at improving public health, expanding access to education, and driving sustainable development.

By the end of 2024, the foundation's net assets reached $71.3 billion, with an annual budget for 2025 set at $8.7 billion. Gates also shared in an earlier interview with the BBC that he had donated over $100 billion to philanthropic causes, including around $60 billion directed to his own foundation.

According to Forbes, Bill Gates retains a personal fortune estimated at $113 billion. His former wife, Melinda French Gates, separated from him in 2021 and stepped away from the foundation in 2024.

The foundation, once known as the Bill & Melinda Gates Foundation, now operates under the simplified name Gates Foundation.

The organization continues to be a major supporter of global health institutions, contributing significantly to the World Health Organization, the Global Polio Eradication Initiative, and Gavi, the Vaccine Alliance.

Funding has historically come from Gates himself, Melinda French Gates, and Warren Buffett, the renowned philanthropist and head of Berkshire Hathaway.

Looking ahead, the Gates Foundation has outlined three core priorities for the next 20 years. These include reducing child mortality, tackling infectious diseases such as polio, malaria, measles, and Guinea worm disease, and advancing educational opportunities for underserved populations.

Gates praised Warren Buffett for his longstanding generosity and hoped that other wealthy individuals would recognize their potential to make a meaningful impact by increasing their charitable contributions.