On the 25th anniversary of the Gates Foundation, Bill Gates announced plans to donate nearly all of his personal wealth over the next two decades, aiming to provide $200 billion in support to the world’s poorest communities, especially as global aid budgets face significant reductions.
Bill Gates has pledged to give away nearly his entire fortune by 2045, committing around $200 billion through the Gates Foundation to tackle critical global challenges such as child mortality, poverty, and preventable diseases.
The announcement came as the Gates Foundation marked its 25th anniversary. Gates emphasized the urgency of acting now, given the reductions in international aid by several governments. “There are too many urgent problems to solve for me to hold onto resources that could be used to help people,” he wrote in a personal note on his website.
Gates expressed concern over declining support from some of the world’s largest donor nations, including the U.S., U.K., and France. He stressed that meaningful progress on global health issues - such as polio, malaria, and maternal health - depends on a combination of private philanthropy and continued public sector support.
While referencing cuts to the U.S. aid budget under current administrative reforms, Gates underscored his desire to fill some of the gaps created by reduced public spending. He also noted that while private foundations play a vital role, governments remain central to achieving lasting solutions, particularly in funding large-scale health initiatives.
Gates highlighted the need for international collaboration, noting that African nations have taken proactive steps to offset budget shortfalls. Still, he cautioned that key goals, like eradicating polio, require broader global backing.
The Gates Foundation has already disbursed $100 billion since its inception in 2000, funding programs like Gavi, the Vaccine Alliance, and the Global Fund to Fight AIDS, Tuberculosis, and Malaria. The foundation’s annual budget is set to reach $9 billion by 2026. Gates said the organization would spend about 99% of his wealth before closing its doors by the end of 2045.
Gates acknowledged that the foundation has occasionally faced scrutiny over its influence in global health policy, but reaffirmed his belief in its mission. “I hope other wealthy individuals consider how much they can accelerate progress for the world’s poorest if they increase the pace and scale of their giving,” he added.
The philanthropist also noted that he has been in touch with President Donald Trump in recent months to discuss the importance of sustained investment in global health and development.
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President Volodymyr Zelenskyy announced that Ukraine is accelerating the development and production of interceptor drones to defend against the growing number of Iranian-made Shahed drones used by Russia in recent attacks.
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Orkhan Nazarli, Head of Azerbaijan’s State Tax Service under the Ministry of Economy, held separate meetings with senior tax officials from Latvia and Montenegro during the 29th General Assembly of the Intra-European Organization of Tax Administrations (IOTA) in Baku.
The OIC's 51st ministerial session convenes in Istanbul to tackle pressing global and regional issues.
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Japan has reportedly cancelled a planned high-level security meeting with the United States after Washington pressed Tokyo to increase its defense spending, according to the Financial Times.
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Orkhan Nazarli, Head of Azerbaijan’s State Tax Service under the Ministry of Economy, held separate meetings with senior tax officials from Latvia and Montenegro during the 29th General Assembly of the Intra-European Organization of Tax Administrations (IOTA) in Baku.
The OIC's 51st ministerial session convenes in Istanbul to tackle pressing global and regional issues.
Japan has reportedly cancelled a planned high-level security meeting with the United States after Washington pressed Tokyo to increase its defense spending, according to the Financial Times.
Israel announced on Saturday that it had killed senior Iranian commander Saeed Izadi, head of the Palestine Corps of Iran’s Quds Force, in a targeted strike in Qom. Izadi was accused of supporting Hamas before its October 2023 attack on Israel.
President Volodymyr Zelenskyy announced that Ukraine is accelerating the development and production of interceptor drones to defend against the growing number of Iranian-made Shahed drones used by Russia in recent attacks.
Gazprom has signed new agreements with its Chinese partners to support the launch and operation of the cross-border section of the Far Eastern gas export pipeline to China.
Orkhan Nazarli, Head of Azerbaijan’s State Tax Service under the Ministry of Economy, held separate meetings with senior tax officials from Latvia and Montenegro during the 29th General Assembly of the Intra-European Organization of Tax Administrations (IOTA) in Baku.
The OIC's 51st ministerial session convenes in Istanbul to tackle pressing global and regional issues.
France has announced a €1.35 billion ($1.55 billion) investment in the debt-laden satellite company Eutelsat, becoming the company's largest shareholder. As the French finance ministry said, the move is intended to strengthen Europe’s leading satellite to compete with Elon Musk’s Starlink.
Japan has reportedly cancelled a planned high-level security meeting with the United States after Washington pressed Tokyo to increase its defense spending, according to the Financial Times.
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