Most of Bill Gates’ $200 bn fortune will go to Africa over next 20 years – Here’s why
As the Chair and Board member of the Gates Foundation, Bill Gates officially announced spending the majority of their funding to aid Africa. On Monday, he took the stage in Nelson Mandela Hall at the African Union, urging leaders to accelerate progress in health and development.
Written by FE Online
June 3, 2025 10:51 IST
Microsoft founder Bill Gates plans on donating the bulk of his fortune to the world’s poorest. Revealing how he intends to give away $200 billion over the next 20 years, he made a vow to Africa. He disclosed redirecting his focus to Africa at Nelson Mandela Hall at the African Union in Addis Ababa, Ethiopia, where 12,000 government officials, diplomats, health workers and more such consequential people were in attendance. Following up on the same revelation, his philanthropic organisation, the Gates Foundation, issued a statement on Monday.
Bill Gates’ billion-dollar fortune to deplete 99% over the next 2 decades
In a press release titled, “Bill Gates to Direct Majority of $200 Billion Pledge Toward Africa’s Future,” the foundation quoted the tech titan: “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.” Consequently, his foundation, which was originally poised to shut down after his and ex-wife Melinda French Gates’ deaths, will now close in 2045. The Gates Foundation celebrates its 25th anniversary this year.
As the Microsoft co-founder’s net worth, currently valued at $108 billion, will drop 99% over the next two decades, the tech billionaire is committed to partnering with governments and making his donations count with citizens’ health and well-being as his new priority.
“By unleashing human potential through health and education, every country in Africa should be on a path to prosperity — and that path is an exciting thing to be part of,” Bill Gates said at the event.
Why is Bill Gates doubling down on his philanthropic mission?
In an interview with CBS Mornings in May, the billionaire businessman initially opened up about his desire to help improve lives around the world. “By deciding to spend all this money in the next 20 years, we can get a lot more done,” he said before announcing the initiative. Further explaining why he wants to give away his good fortune, he shared a letter online that month. Therein, he bared his heart about being inspired by a famous quote from Andrew Carnegie’s 1889 essay “The Gospel of Wealth,” which said, “the man who dies thus rich dies disgraced.”
“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. There are too many urgent problems to solve for me to hold onto resources that could be used to help people,” he added in the letter.
Although Gates has already unloaded $100 billion by investing in medical innovations that could help get rid of the global childhood mortality rate, he is now bent on doubling down on these donations. With some government programs being cut along the way and foreign aid and humanitarian funding being scaled back, he’s worried about the graph slipping downwards.
Bill Gates won’t miss his fortune, but…
Having already been in touch with Donald Trump over the matter despite the US president’s decision to withdraw from the World Health Organisation, Bill Gates says these contributions mark the beginning of the “last chapter” in his career. “Well, I wish I had even more time. But I have to say, ‘OK, this is the last part of my life. And I’m a steward of these resources,” he opened up to CBS. “I should make sure that it’s well spent. And now this is the last stage of all that.”
Hoping that he’s still around 20 years down the line to see the progress with his own eyes, the soon-to-turn 70 philanthropist admitted that he won’t miss his billion-dollar fortune. “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.” he added at the time.