Bill Gates to Give Away Fortune

Microsoft co-founder Bill Gates has announced a significant acceleration in his philanthropic endeavors, pledging to donate 99% of his vast fortune over the next two decades. This commitment represents a shift from his initial plan, which envisioned the Gates Foundation continuing its work for several decades after his death.

Gates, citing Andrew Carnegie's 1889 essay 'The Gospel of Wealth,' emphasized the moral obligation of wealthy individuals to return their fortunes to society. The Gates Foundation has already contributed $100 billion towards global health and development projects, with plans to disburse an additional $200 billion by 2045, subject to market conditions and inflation.

In outlining his foundation's objectives, Gates prioritized three main areas: eliminating preventable diseases that affect mothers and children, eradicating infectious diseases such as malaria and measles, and alleviating poverty for hundreds of millions of people worldwide. However, Gates expressed concern over recent cuts in foreign aid budgets by countries like the US, UK, and France, questioning whether the world's wealthiest nations will continue to support its most impoverished populations.

Despite potential criticism regarding the foundation's tax status and influence on global health systems, Gates remains committed to his philanthropic mission, stating, '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.'