Seattle — In one of the boldest philanthropic pledges ever made, Bill Gates announced on Thursday that he will donate $200 billion through the Bill & Melinda Gates Foundation by 2045, accelerating efforts to combat global poverty, disease, and childhood mortality. In a rare and pointed public criticism, Gates also took aim at Elon Musk, accusing him of worsening the global crisis through sweeping cuts to U.S. foreign aid.
The 69-year-old Microsoft co-founder said he would wind down the foundation permanently by December 31, 2045, several years earlier than originally planned. He emphasized that the foundation’s focus will remain on tackling preventable deaths among women and children, eradicating diseases like polio and malaria, and reducing extreme poverty in developing nations.
Speaking to the Financial Times, Gates declared:
“The picture of the world’s richest man killing the world’s poorest children is not a pretty one.”
His comments referred to U.S. aid budget cuts reportedly overseen by Musk in his role as head of the controversial Department of Government Efficiency (DOGE). The department has targeted the U.S. Agency for International Development (USAID), with an estimated 80% of its programs facing elimination. USAID spent $44 billion globally in 2023, supporting healthcare, food security, and emergency aid.
Musk, now the world’s wealthiest individual and CEO of Tesla and SpaceX, has openly mocked traditional aid efforts, claiming that many agencies are bloated and ineffective. He previously described his overhaul as feeding USAID “into the wood chipper.”
In a separate interview with Reuters, Gates warned that these funding reductions could reverse decades of progress in reducing mortality.
“We’re facing the real possibility that the number of deaths could rise for the first time in decades… Millions more children could die if resources keep shrinking,” Gates said.
To counter the crisis, the Gates Foundation’s annual budget will increase to $9 billion by 2026, and $10 billion annually thereafter, as part of an accelerated disbursement plan. Gates admitted, however, that philanthropy cannot replace the role of governments:
“We simply can’t fill the hole left behind by collapsed aid budgets. Governments must step up.”
While Gates once aligned with Musk on the idea that billionaires should use their wealth to benefit humanity, their relationship has soured in recent years. Gates confirmed he has not spoken to Musk directly about reversing course, adding that Congress now holds the key to the future of U.S. foreign aid.
Despite the grim tone, Gates expressed hope that world leaders would eventually return to prioritizing “children surviving and thriving” over the next two decades.