Bill Gates Announces End of Foundation, Slams Musk as ‘World’s Richest Man Killing the World’s Poorest Children’

Bill Gates recently made a surprising announcement about the end of his foundation. In a bold statement, he also criticized Elon Musk, calling him the “world’s richest man killing the world’s poorest children.”

Bill Gates has announced an ambitious plan to give away nearly all of his estimated $200 billion fortune over the next two decades, marking a significant shift in his approach to philanthropy. This decision also coincides with his sharp criticism of Elon Musk and his role in dismantling critical U.S. foreign aid programs. Gates revealed that the Gates Foundation will be shutting down by the end of 2045, bringing an end to what has been one of the most influential global forces in health and development for over two decades. Gates emphasized that while the foundation will continue its work for another two decades, it will ultimately distribute its assets and focus on giving as much as possible to charitable causes before its closure. The move is a stark contrast to earlier plans, which intended for the foundation to operate for 20 years following his death.

One of the key reasons for this accelerated timeline seems to be the ongoing changes in U.S. foreign policy, particularly under the Trump administration. Gates has been vocal about the negative impacts of the administration’s actions, especially the dissolution of the U.S. Agency for International Development (USAID) by Musk’s Department of Government Efficiency. Gates expressed deep concern about how these changes could devastate vulnerable populations around the world who rely on U.S. foreign aid. In an interview with the Financial Times, Gates referred to Musk’s actions as “killing the world’s poorest children,” describing it as a damaging consequence of dismantling these vital aid programs. Gates is especially worried about the loss of services like food aid, disaster relief, and disease prevention, which USAID provided in over 100 countries.

Despite the Gates Foundation increasing its spending to $9 billion annually in its final years, Gates has acknowledged that private foundations, including his own, cannot fully replace the role the government played in providing international aid. He noted that without the ability to continue indefinitely, the foundation would need to scale back its spending to around $6 billion annually if it had tried to extend its existence beyond the planned 2045 deadline. The foundation’s final years will focus on maximizing its impact while it has the resources to do so.

The Gates Foundation, founded in 2000 by Bill and Melinda Gates, has already spent more than $100 billion on global health initiatives, scientific research, vaccine development, and education. However, as of 2024, Melinda left the foundation to focus on her own philanthropic efforts through Pivotal Ventures, which concentrates on advancing programs for women and girls. She confirmed that the decision to wind down the foundation was Bill’s decision, with the support of the board of trustees. While they may no longer work together personally, Bill and Melinda share a unified vision for the final two decades of the foundation’s work, aiming for maximum impact in areas that need it the most.

The decision to close the foundation has also sparked debate about the outsized influence of private philanthropy. While some have raised concerns over the power the foundation has had in shaping global development, Gates has defended his right to fund the causes he believes in. He argued that his decisions have allowed the foundation to tackle major global health issues, even if some criticize his approach. Now 69 years old, Gates plans to remain actively involved in the foundation’s work for as long as possible, but he also acknowledges that his leadership role may eventually evolve as he transitions out.

In the meantime, the Gates Foundation’s remaining years will focus on utilizing its resources to continue supporting health initiatives, education, and scientific progress, even as it prepares for its eventual closure. With plans to ramp up spending, Gates is committed to making a lasting impact with the remaining resources of the foundation, hoping to ensure that future generations will continue to benefit from the work it has started.

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