Bill Gates to donate most of his wealth by 2045 to save and improve lives
Microsoft co-founder Bill Gates says he will give away more than 200 billion dollars, or virtually all his wealth, to help vulnerable people over the next 20 years.
In a statement released on Thursday, he said the exact amount will depend on the markets and inflation, but he expects the Gates Foundation will spend more than 200 billion dollars between now and 2045, when it will end its operations.
He said the donations will be used to reduce deaths of mothers and children due to malnutrition, to prevent infectious diseases and to combat poverty.
Gates said his foundation has given away more than 100 billion dollars during the past 25 years, but will double this over the next two decades.
He noted that the United States, the United Kingdom, France and other countries around the world are cutting their aid budgets, and no philanthropic organization can make up the gulf in funding.
In an interview with the Associated Press, Gates said: "The need, of course, is far greater than what we can do. But we'll be showing that we're doing the most we can." He added, "We'll be here all of those 20 years, but not thereafter."
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