Bill Gates to give away his $200 billion wealth over next 20 years: ‘Majority of that funding will be spent on…’

Microsoft

founder Bill Gates has announced to donate most of his estimated $200 billion fortune on improving health and education services in Africa over the next two decades. Speaking at the African Union (AU) headquarters in Addis Ababa, Ethiopia, Gates said: “I recently made a commitment that my wealth will be given away over the next 20 years. The majority of that funding will be spent on helping you address challenges here in Africa.”Graça Machel, former First Lady of Mozambique, welcomed Gates’ pledge during what she called a “moment of crisis.”“We are counting on Mr Gates' steadfast commitment to continue walking this path of transformation alongside us,” she said.

What Bill Gates said about donating his wealth

The 69-year-old billionaire emphasized the importance of investing in people to unlock progress. “By unleashing human potential through health and education, every country in Africa should be on a path to prosperity,” he added.Gates, whose foundation has long worked across Africa, said the key to better outcomes lies in supporting women and children, especially around pregnancy and early childhood.“What we've learned is that helping the mother be healthy and have great nutrition before she gets pregnant, while she is pregnant, delivers the strongest results,” he explained.“Ensuring the child receives good nutrition in their first four years as well makes all the difference.”

3 goals of Gates Foundation as revealed by Bill Gates

The

Gates Foundation

will focus on three main goals: preventing deaths of mothers and babies, eradicating deadly infectious diseases, and helping millions escape poverty.Gates also called on Africa’s youth to use technology to improve lives, noting how mobile phones had transformed banking on the continent. He urged the next generation to think about how AI could do the same for healthcare.“Africa largely skipped traditional banking and now you have a chance, as you build your next generation healthcare systems, to think about how AI is built into that.”He cited Rwanda’s use of AI-powered ultrasound to detect high-risk pregnancies as an example of technology-driven progress.

Gates Foundation to end by 2045

Speaking at the event, the Microsoft founder revealed that the Gates Foundation plans to “sunset” operations in 20 years, aiming to complete its mission by 2045. Last month, Gates said he would speed up his giving. “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 wrote in a blog post.Despite giving away 99% of his wealth, Gates is likely to remain a billionaire, according to Bloomberg.