Bill Gates claims Elon Musk is hurting the world’s poorest children and plans to donate $200 billion by 2045

Bill Gates chastises Elon Musk for US aid cuts that endanger world health and promises to donate $200 billion by 2045.

Bill Gates pledged on Thursday to donate $200 billion through his charity foundation by 2045, boosting initiatives to combat poverty, save lives, and address global health challenges.

As the Bill & Melinda Gates Foundation celebrates its 25th anniversary, the billionaire philanthropist announced that the organization will now close by December 31, 2045, which is years earlier than originally anticipated, as it gets ready to spend almost all of Gates’ estimated $108 billion wealth.

Gates described the humanitarian goal behind this commitment in two interviews with the Financial Times and Reuters. He also delivered a harsh critique of fellow billionaire Elon Musk, accusing the CEO of SpaceX and Tesla of putting the lives of the world’s poorest people in jeopardy by drastically reducing US foreign aid.

In reference to Musk’s role in cutting the funding for the US Agency for International Development (USAID) through his Department of Government Efficiency (DOGE), Gates told the Financial Times, “The picture of the world’s richest man killing the world’s poorest children is not a pretty one.” After spending a record $44 billion in 2023, the agency’s budget is expected to decrease by 80%.

Gates cautioned that the cuts to aid might have disastrous repercussions and undo decades of progress in reducing mortality worldwide. “The death toll will begin to rise for the first time … Because of the resources, millions more people will die,” he stated.

With a focus on eliminating illnesses like polio and malaria, lowering avoidable maternal and infant mortality, and increasing access to necessary health services, the Gates Foundation’s yearly budget is anticipated to increase to $9 billion by 2026 and $10 billion in the years that follow. The foundation has already distributed $100 billion since its founding in 2000, funding initiatives such as the Global Fund to Fight AIDS, Tuberculosis and Malaria, and Gavi, the Vaccine Alliance.

Gates emphasized that philanthropy cannot take the place of government, even with its vast resources. He noted that eliminating polio, for example, is difficult without ongoing US financing and stated that “progress won’t be possible without government support.”

When asked if he had recently encouraged Musk to change his mind about foreign aid, Gates said that Congress now had the final say in the issue. Musk briefly wrote, “Gates should be in prison,” on his X platform in reaction to an interview footage that featured Gates, then removed the statement. Media inquiries have not received a response from his agents.

Gates recognized the foundation’s enormous impact and the criticism it has received over the years, including worries about accountability in global health governance and conspiracy theories during the COVID-19 pandemic. Nevertheless, he is still dedicated to using his resources to the fullest extent feasible.

In a personal blog post, Gates stated, “I have too many pressing issues to focus on holding onto resources that could be used to help people.” “It’s uncertain if the wealthiest nations in the world will continue to defend their poorest citizens.”

He maintains his optimism in the face of uncertainty, saying, “I think governments will come back to caring about children surviving.”

The foundation will now close after almost all of Gates’ wealth has been used up, despite its initial plan to continue for decades after the deaths of its founders. According to Gates, market performance and inflation will determine if the total ends up reaching $200 billion.

His declaration is a fearless restatement of his conviction in moral duty and international cooperation. “There are values in the world,” Gates told Reuters. “I learned that from my parents.”