Bill Gates plans to donate all of his wealth, amounting to about $200 billion

Bill Gates plans to donate all of his wealth

amounting to about $200 billion

American billionaire Bill Gates announced his intention to donate

"almost all of his wealth," which is estimated at about $200 billion. 

The 69-year-old :

• Microsoft founder said he plans to distribute his money over

• the next 20 years before closing the Gates Foundation

• which he founded with his ex-wife Melinda

on December 31, 2045.  

Gates told CBS News that

his net worth will decline by 99% over the next two decades, explaining that

his decision came after he witnessed first-hand the impact of his foundation’s

work in distributing vaccines for treatable diseases which still kill many in

the Third World, such as diarrhea and pneumonia.  

But the decision also came in light of 

what he described as "slowing progress," 

as the United States and Europe reduced foreign aid and humanitarian funding due

to conflicts in Ukraine and Israel. He stressed that he would

not miss anything from his multi-billion dollar fortune.  

"I hope I'll still be alive when we're through 20

but I'll save as little to be able to buy as many hamburgers as I need," 

he joked.  

Gates explained:

People will say a lot about me when I die

but I am determined that none of

• these things will be ‘He died rich.’". There are a lot of urgent issues that

• need to be solved for me to keep resources that

• can be used to help people," he said.  

Gates and his ex

wife founded their foundation in 2000

and they planned to continue charitable work for many decades after their death.

The foundation is one of the world's largest charitable organizations, having

donated more than $100 billion since its founding, according to reports.  

Thursday's statement described this decision as 

"the largest charitable commitment in modern history" by the Gates Foundation.  

More than half of

the foundation's money so far comes from the Gates fortune he made from

Microsoft

which he founded 50 years ago, while the remaining 41% comes from Warren

Buffett. But the institution experienced major turmoil when Bill and Melinda

separated in 2021, and Buffett resigned from his position as trustee. 

Melinda French Gates left the foundation last year to continue working at her own

organization, which she said would focus on confronting what she described as "the

decline of women's rights in the United States.". 

In an interview with Reuters

• Gates explained that the reason for his decision was partly due to

• the administration of US President Donald Trump liquidating

• the United States Agency for International Development (USAID).

Gates said that the White House's decision was surprising to him because 

Trump had privately expressed his interest in programs to combat HIV/AIDS.