On Thursday, Bill Gates, co-founder of Microsoft and a leading philanthropist, made headlines by pledging to donate a staggering $200 billion through his charitable foundation by the year 2045. This announcement is particularly significant as it comes with a pointed critique of Elon Musk, the world’s wealthiest individual, who Gates accuses of undermining efforts to assist the world’s poorest children through drastic reductions in U.S. foreign aid budgets.

The 69-year-old billionaire revealed that he is accelerating his plans to divest almost all of his wealth, stating that the closure of his foundation is now set for December 31, 2045—much sooner than previously anticipated. Gates believes that this financial commitment will be instrumental in achieving several ambitious goals, including the eradication of diseases such as polio and malaria, the prevention of avoidable deaths among women and children, and the significant reduction of global poverty.

This announcement is a direct response to recent governmental decisions, including those made during the Trump administration, which have seen international aid budgets slashed—budgets that are crucial for combating deadly diseases and famine across the globe.

Gates highlighted that Musk’s management of the foreign aid landscape has been detrimental. Musk has made headlines for his controversial statements regarding the U.S. Agency for International Development (USAID), remarking that he had fed it “into the wood chipper” as part of his initiative to optimize government efficiency, an apparent reference to his Department of Government Efficiency (DOGE). The ramifications of these budget cuts are dire, with up to 80 percent of USAID programs facing elimination; in fiscal year 2023, USAID allocated around $44 billion globally.

In an interview with the Financial Times, Gates expressed deep concern about the potential consequences of these funding reductions. He warned that the next four to six years could see a shocking reversal in the progress made over decades in reducing mortality rates worldwide. “The number of deaths will start going up for the first time... it's going to be millions more deaths because of the resources,” Gates confided to Reuters.

Despite the considerable financial resources of the Gates Foundation, Gates cautioned that philanthropic efforts alone cannot fill the void left by cuts in governmental support. The foundation is projected to reach an annual budget of $9 billion by 2026 and around $10 billion annually thereafter, but Gates insisted that without the backing of government funding, critical issues remain unaddressed. He believes that over the next two decades, governments will inevitably realize the importance of prioritizing the survival of children.

Historically, Gates and Musk shared common ground regarding the responsibilities of the wealthy in philanthropic giving; however, their paths have now diverged, leading to a series of public spats. When asked if he had reached out to Musk to reconsider his stance on foreign aid, Gates indicated that the matter now rests with Congress and their decisions on U.S. aid allocations.

In a swift response to Gates' comments, Musk took to his social media platform X, labeling Gates a “huge liar” in a tweet that referenced an interview in which Gates warned about the implications of U.S. aid cuts. Musk's representatives were not available for immediate comment.

Gates articulated the urgency of his mission, stating, “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.” He also expressed doubt about whether the wealthiest countries would persist in their support for the world’s most impoverished populations.

On the 25th anniversary of the Gates Foundation, which was established in 2000 with his then-wife Melinda French Gates and later joined by investor Warren Buffett, Gates reflected on the foundation's journey. To date, it has donated over $100 billion, significantly impacting global health and wellness initiatives, including substantial contributions to vaccine initiatives and combating diseases such as AIDS, tuberculosis, and malaria.

Gates confirmed that the foundation plans to exhaust nearly 99 percent of his fortune before its eventual closure, a timeline initially envisioned for after the founders’ deaths. With Gates’ current net worth estimated at around $108 billion, the foundation’s goal of spending $200 billion by 2045 may vary depending on market conditions and inflation.

Despite its monumental achievements, the Gates Foundation has faced criticism over its substantial influence in the global health sector without sufficient accountability, particularly in its engagements with organizations like the World Health Organization. Gates himself has been the target of numerous conspiracy theories, especially during the COVID-19 pandemic. Nevertheless, he has maintained communication with various leaders, including President Trump, to reiterate the importance of ongoing investments in global health.

As Gates concluded in his remarks to Reuters, “The world does have values. That’s what my parents taught me.”