In a revealing interview with the Financial Times on Thursday, 8 May, 2025, Microsoft co-founder and philanthropist Bill Gates announced plans to wind down the Bill & Melinda Gates Foundation by December 31, 2045, pledging to donate nearly his entire $200 billion fortune to global health and poverty alleviation initiatives.
The announcement, marking the foundation’s 25th anniversary, comes amid significant global aid reductions, particularly in the United States (US), prompting Gates to accelerate his wealth divestment to address urgent humanitarian needs.
Gates, whose foundation has already disbursed $100 billion since its inception in 2000, emphasised the critical role of philanthropy in filling gaps left by shrinking government aid.
He highlighted the foundation’s achievements, including halving global child mortality since 2000, and expressed determination to ensure his legacy is not defined by wealth but by impact.
“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,” Gates stated, underscoring his commitment to solving preventable causes of death and diseases like polio, malaria and HIV.
However, the interview took a sharp turn as Gates lambasted Elon Musk, the world’s richest individual and head of the Department of Government Efficiency (DOGE), for orchestrating drastic cuts to U.S. foreign aid, particularly to the U.S. Agency for International Development (USAID).
Gates accused Musk of “killing the world’s poorest children” by dismantling USAID, which has historically funded vaccines, food assistance, and health programmes critical to millions globally.
“The picture of the world’s richest man killing the world’s poorest children is not a pretty one,” Gates told the Financial Times, reflecting growing tensions between the tech titans.
Musk’s DOGE, tasked with reducing federal spending, has targeted agencies like USAID, with Musk labelling it a “ball of worms” and advocating its closure.
Gates warned that such cuts could lead to “literally millions of deaths,” citing the ripple effects on maternal health and disease prevention.
Despite Musk’s claims of addressing government inefficiency, Gates argued that defunding proven aid programmes undermines decades of progress, urging governments to scale successful interventions rather than dismantle them.
As Gates prepares to close his foundation, his outspoken critique signals a broader clash over the role of billionaires in shaping global policy, with implications for humanitarian efforts worldwide.
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