The 69-year-old billionaire Microsoft co-founder and philanthropist said he was speeding up plans to divest his fortune and close the Gates Foundation on Dec. 31, 2045.
“There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”
“It’s unclear whether the world’s richest countries will continue to stand up for its poorest people,“ he added, noting cuts from major donors also including the U.K. and France.
He praised the response to aid cuts in Africa, where some governments have reallocated budgets, but said that as an example polio would not be eradicated without U.S. funding.
“I have come a long way since I was just a kid starting a software company with my friend from middle school,“ he said.
Since inception, the foundation has given away $100 billion, helping to save millions of lives and backing initiatives like the vaccine group Gavi and the Global Fund to Fight AIDS, Tuberculosis and Malaria.
Gates, who is valued at around $108 billion today, expects the foundation to spend around $200 billion by 2045, with the final figure dependent on markets and inflation.
It has faced criticism for its outsize power and influence in the field without the requisite accountability, including at the World Health Organization.
Gates has also spoken to U.S. President Donald Trump several times in recent months on the importance of continued investment in global health.
“I hope other wealthy people consider how much they can accelerate progress for the world’s poorest if they increased the pace and scale of their giving, because it is such a profoundly impactful way to give back to society,“ Gates wrote.
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