[Watch] Bill Gates Vows Not to ‘Die Rich:
Bill Gates says he won’t “die rich,” accelerating the distribution of riches; he slams Musk’s 20-year winding down of the foundation.
Bill Gates, a co-founder of Microsoft, revealed Thursday a faster schedule for distributing his riches. Simultaneously, he hailed artificial intelligence as a revolutionary tool for worldwide public health enhancement and life-saving.
Under a revised schedule, the Gates Foundation will commit more than $200 billion over the next twenty years. Its scheduled closing year is 2045. Originally, the company had meant to close twenty years after Gates passed away.
Gates aimed his comments at another billionaire tech titan, Elon Musk, who was making the announcement.
Gates said the New York Times “didn’t go to a party that weekend,” hence the Tesla CEO pushed through severe cuts to the US Agency for International Development, apparently criticising Musk’s way of life.
With a net worth of $112.6 billion, Gates ranks 13th on Forbes’ “real-time” billionaire list. Musk is first with $383.2 billion.
69-year-old Gates released a chart illustrating his net worth falling 99 percent over the next 20 years. In a blog post, he revealed this change in speed of giving—a doubling.
“People will say many things about me when I die, but I am determined that ‘he died rich’ will not be one of them,” Gates noted.
The same year Bill Gates resigned from Microsoft, the Bill and Melinda Gates Foundation was founded in 2000. Melinda French Gates left the charity three years following the divorce between the pair in 2024.
At the end of 2023 the company had assets valued over $71 billion. It is credited as having helped to transform the field of public health worldwide.
It notes five offices scattered around Africa. Other sites are the United States, Europe, China, India, and the Middle East.
Gates mentioned advancements in health initiatives, particularly an eradication campaign against polio.
Another initiative focuses on developing a new rotavirus vaccine. It has 75% helped lower the annual death toll from diarrhea among youngsters.
The Microsoft founder also mentioned his intention to keep supporting projects aimed at increasing access to reasonably priced electricity. Likewise with money for innovative Alzheimer’s disease research.
Not a basis fit for “forever”.
Gates praised the writings of US steel mogul Andrew Carnegie from the 19th century in the blog post. Carnegie’s foundation is still mostly intact.
He told the New York Times, however, that he had no ideas for a “forever” foundation based on “some weird legacy thing”. He wants to pump out billions more to benefit from new technologies.
“The tools are so wonderful,” he remarked of the possibilities artificial intelligence presents for world health.
Gates told the New York Times, “All the intelligence will be in the AI, and so you will have a personal doctor that’s as good as somebody who has a full-time dedicated doctor — that’s actually better than even what rich countries have.”
Although private foundations are quite capable, Gates emphasised the government’s important role. He rued major budget cuts by the United States, Britain, France, and other nations.
“It’s unknown whether the richest nations in the world will keep advocating for their poorest citizens. The Gates Foundation will, however, support initiatives to help people and nations pull themselves out of poverty in all of our activities, and that is one thing we can promise.
Among the actions has been the attack on USAID by Musk’s “Department of Government Efficiency” within Donald Trump’s presidential administration.
Gates described the cuts as “stunning,” much more severe than anticipated.
Gates said to the New York Times, “Musk is the one who cut the USAID budget.” He dumped it in the wood chipper.
Gates questioned Musk’s apparent perplexity equating Gaza Province in Mozambique with Gaza in the Middle East in an interview with the Financial Times, pointing out that the Trump administration focused projects.
