BILL Gates has generously pledged to give away 99% of his enormous multi-billion dollar fortune over the next 20 years.
The Microsoft founder plans to speed up donations from his foundation – which plans to close completely in 2045.
Gates added that he’s already given a whopping $100bn (£75bn) to support health and development projects, and expects it to spend another $200bn.
The billionaire said: “People will say a lot of things about me when I die, but I am determined that ‘he died rich’ will not be one of them.”
He referenced an 1889 Andrew Carnegie essay in a blog post, which hints at his rationale for the colossal donation.
Carnegie’s essay says: “The man who dies thus rich dies disgraced.”
Gates’ renewed vow to give away vast shares of his $113 billion fortune notably speeds up his promised timeline of donations
His original plan had been that his foundation would continue its work for decades after his death.
But the tech pioneer told the BBC’s Newshour that more wealthy people would come along in 20 years who can address the challenges of the day.
“It’s really about the urgency,” he said.
“We can spend a lot more if we’re not trying to be perpetual, and I know that the spending will be in line with my values.”
Giving away 99% of his wealth would still leave Gates a billionaire.
He was the world’s richest person for a number of years, and still ranks among the planet’s wealthiest individuals.
“I believe 20 years strikes the perfect balance—allowing us ample time to make advancements while also providing plenty of notice that eventually these funds will no longer be available,” he remarked.
Gates took a swipe at the world’s current richest man Elon Musk, blasting cuts made to the US aid budget by his Department of Government Efficiency (DOGE).
“These cuts will kill not just children, but millions of children,” he said.
“You wouldn’t have expected the world’s richest person to do it.”
Gates was also scathing about the US, UK and France’s moves to slash their foreign aid budgets.
He wrote: “It’s unclear whether the world’s richest countries will continue to stand up for its poorest people.
“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.”
Gates’ blog post outlines the core goals for his foundation in eliminating preventable diseases that kill mothers and children as well as infectious diseases such as malaria and measles.
He also aims to end poverty for hundreds of millions of people.
The billionaire founded Microsoft back in 1975, which quickly became one of the world’s most successful tech companies.
Gates has focused more on philanthropic work since taking a step back from Microsoft.
He stood down as as the company’s chief executive in 2000 and as its chairman in 2014.
