Bill Gates is Giving Away Nearly All His Wealth
In a bold and deeply personal decision, billionaire philanthropist Bill Gates has announced he plans to give away nearly all of his fortune within the next two decades. The Microsoft co-founder, whose net worth is currently estimated at $108 billion, revealed the plan in an exclusive interview with CBS Mornings, stating that the move is part of his broader mission to improve and save lives around the globe.
“I Don’t Want to Die Rich”
Gates shared that his decision was inspired by a quote from Andrew Carnegie’s 1889 essay The Gospel of Wealth, which reads: “The man who dies thus rich dies disgraced.” For Gates, the message hit home.
“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,” he said. “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”
In a letter published online, Gates elaborated on his vision to direct $200 billion through the Bill & Melinda Gates Foundation over the next 20 years. This move would result in a 99% reduction in his personal wealth.
A Shift in Long-Term Plans
Originally, the Gates Foundation was expected to remain active for decades after both Gates and his ex-wife, Melinda French Gates, had passed. Now, Gates has revised that timeline. The foundation will wind down its operations by 2045, just 20 years from now.
This decision marks a pivotal change for one of the world’s largest charitable organizations. Since its founding 25 years ago, the Gates Foundation has already distributed $100 billion in global health and development programs. One of its most significant achievements includes a dramatic reduction in child mortality rates through the distribution of life-saving vaccines for diseases such as pneumonia and diarrhea.
Gates has witnessed firsthand how targeted, science-based interventions can transform communities. Motivated by that impact, he says it’s time to “double down.”
Three Big Goals
Gates outlined three primary areas of focus for the remainder of the foundation’s work:
- Ending preventable deaths of mothers and children
- Eradicating infectious diseases
- Helping more countries achieve economic self-sufficiency, with a strong emphasis on education
But these goals are not without obstacles. Gates is increasingly concerned about declining support from wealthy nations. The U.S. and several European countries have scaled back humanitarian aid, a move Gates believes could have devastating consequences.
In 2023 alone, nearly 4.8 million children died before reaching age five, according to UNICEF. Without increased investment in foreign aid, Gates warns that number could climb to over six million annually.
“So we should be going from 5 million children dying a year to 4 million over the next five years,” he explained. “But with these cuts, if they’re not reversed, the number could go up instead of down.”
Speaking with Leaders, Hoping for Change
To advocate for continued U.S. involvement in global health, Gates said he’s spoken with political leaders, including former President Donald Trump. The two discussed HIV prevention and polio eradication during a dinner at Mar-a-Lago in late 2023.
Despite that conversation, many of the programs Gates championed were cut. In fact, President Trump moved to withdraw the U.S. from the World Health Organization and proposed sweeping cuts to the Department of Health and Human Services and U.S. foreign aid budgets.
More recently, the Trump administration’s fiscal 2026 budget proposal reportedly includes further “enormous cuts” to foreign aid, narrowing the focus to only those efforts directly tied to U.S. interests.
Gates acknowledged that even the vast resources of his foundation cannot match the scale of government assistance. In fiscal year 2024 alone, the U.S. disbursed nearly $72 billion in foreign aid—more than four times what the Gates Foundation spends globally.
“You always want more money going into these things where you’re saving lives for a few thousand dollars,” Gates said. “And I will be an advocate for that.”
He specifically praised former President George W. Bush for his enduring contributions to global health, such as the Emergency Plan for AIDS Relief, launched in 2003.
A Legacy of Impact
Now approaching his 70th birthday, Gates views this massive philanthropic endeavor as the final chapter in his career. But he’s not slowing down. He says he wants to ensure the funds are deployed wisely and make a lasting impact.
“I wish I had even more time,” he told CBS Mornings. “But I have to say, ‘OK, this is the last part of my life. And I’m a steward of these resources.’ I should make sure that it’s well spent.”
When asked if he would miss being one of the world’s richest individuals, Gates responded with his trademark humility — and a bit of humour.
“No, I won’t,” he laughed. “I hope I’m still alive when we finish the 20 years, but I will save a little bit to be able to buy hamburgers as much as I need.”
In a world where extreme wealth is often hoarded or passed down through generations, Gates is taking a different path — one defined not by what he keeps, but by what he gives away. And in doing so, he hopes to change not only the lives of millions, but also the conversation about what it truly means to leave a legacy.
