‘Killing world's poorest children': Gates criticizes Musk's aid policies
In a scathing rebuke, Gates also criticized Elon Musk, accusing the Tesla and SpaceX CEO of undermining global efforts to combat poverty and disease by supporting massive cuts to US foreign aid.
The 69-year-old billionaire revealed that he would speed up his plan to divest nearly all of his fortune and wind down the Bill & Melinda Gates Foundation by Dec. 31, 2045—years earlier than previously planned. Gates emphasized that this accelerated giving would focus on important global health issues, such as eliminating diseases like polio and malaria, ending preventable deaths among women and children, and reducing poverty.
The timing of Gates' announcement coincides with significant cuts to international aid, including those initiated by the Trump administration and continued under the current US government.
Musk, a vocal critic of foreign aid spending, has been involved in overseeing cuts to US aid programs, with around 80 percent of the US Agency for International Development's (USAID) funding set to be eliminated. USAID, which spent USD 44 billion globally in fiscal 2023, has been one of the key agencies involved in fighting diseases and alleviating famine worldwide.
Gates did not mince words when commenting on the implications of these cuts. "The picture of the world's richest man killing the world's poorest children is not a pretty one," he told the Financial Times, adding in an interview with Reuters that the reductions in funding would likely lead to a tragic reversal in the progress made over recent decades in reducing mortality rates. "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 warned.
To mitigate the impact of these cuts, the Gates Foundation plans to increase its annual spending, which is expected to reach USD 9 billion by 2026 and about USD 10 billion annually thereafter. However, Gates has emphasized that even the foundation's sizable budget cannot replace the critical support provided by governments. "I think governments will come back to caring about children surviving" over the next 20 years, Gates said, noting that private foundations cannot fill the gaps left by cuts to public funding.
The longstanding tension between Gates and Musk over philanthropy has been widely documented. Once in agreement on the role of the wealthy in giving back to society, the two billionaires have since clashed, especially regarding the future of US foreign aid. When asked if he had recently appealed to Musk to reconsider his stance, Gates replied that it was now up to Congress to decide the future of aid spending in the US.
Musk, who has been outspoken in his criticism of Gates, responded on social media by labeling him a "huge liar" following Gates' comments about the impact of foreign aid cuts.
Gates also made it clear that, despite the foundation's resources, addressing the world's most pressing issues would be impossible without sustained government involvement. "There are too many urgent problems to solve for me to hold onto resources that could be used to help people," he wrote in a blog post. Gates specifically pointed to the fight against polio, which he believes cannot be fully achieved without continued US support.
Reflecting on the foundation's 25th anniversary, Gates shared his belief that values instilled by his parents shaped his philanthropic outlook. "The world does have values. That's what my parents taught me," he told Reuters.
Since its creation in 2000 with his then-wife Melinda and later joined by investor Warren Buffett, the Gates Foundation has given away over USD 100 billion, funding initiatives such as the Gavi vaccine alliance and the Global Fund to Fight AIDS, Tuberculosis, and Malaria.
Gates plans to spend almost all of his USD 108 billion fortune on charitable causes, with the foundation expected to wind down once it has distributed approximately 99 percent of his wealth. The foundation was initially set to continue after their deaths, but the timeline has been significantly shortened.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Jordan News
5 hours ago
- Jordan News
Bill Gates: A Symbol of Innovation, Ambition, and Transformational Impact - Jordan News
In a world increasingly dominated by technology, the name Bill Gates, co-founder of Microsoft, remains a symbol of innovation, ambition, and transformational influence. اضافة اعلان Decades ago, the story began with a company that would go on to reshape the world through software—and behind that story stood a young visionary whose ideas radically transformed our daily lives. Born in Seattle, Washington, in 1955, William Henry "Bill" Gates showed an early fascination with computers and an exceptional talent for programming, often spending countless hours writing code on primitive machines. Today, Gates is recognized as one of the most influential and pioneering figures in modern technology. The Rise of Microsoft In the 1970s—when personal computers were still a distant dream for most—Gates and his childhood friend Paul Allen saw the immense potential in software. In 1975, the two passionate young men founded a company called Microsoft in New Mexico. A turning point came in 1980 when Microsoft struck a deal with IBM to supply the operating system for its first personal computer (IBM PC). At the time, Microsoft didn't own an operating system—but Gates successfully acquired the rights to 86-DOS (which later became MS-DOS) and adapted it to IBM's specifications. This bold move sparked the personal computer revolution and positioned Microsoft at the forefront of the tech world. A Legacy of Innovation Microsoft's momentum continued to accelerate. In 1985, the company launched the first version of Windows, a user-friendly graphical interface that made personal computers accessible to millions. This was followed by the release of the Microsoft Office suite in 1989, which became the gold standard for office productivity thanks to tools like Word, Excel, and PowerPoint. Under Gates' leadership, Microsoft grew into one of the world's largest and most influential corporations, dominating the markets for operating systems and productivity software. Challenges and Transformation The road wasn't without obstacles. Microsoft faced antitrust lawsuits and accusations of monopolistic practices. However, Gates' vision and adaptability helped him navigate these challenges. In 2000, Gates stepped down as CEO of Microsoft and assumed the role of Chief Software Architect. By 2008, he had fully stepped back from day-to-day operations to focus on philanthropy through the Bill & Melinda Gates Foundation, which he co-founded with his former wife Melinda French Gates. The foundation focuses on pressing global issues such as public health, poverty alleviation, and education. Enduring Global Impact Gates' influence on the tech industry and the global economy remains undeniable. Through his ambitious vision, he didn't just build a leading company—he helped shape the digital world we live in today, leaving behind a legacy of both innovation and humanitarian impact. He eventually resigned from Microsoft's board in 2020, continuing to distance himself from formal corporate roles. Today, he dedicates most of his time to writing, addressing global challenges like climate change and public health, all while maintaining a public image marked by quiet intelligence and a deep desire to "make the world better." Net Worth As of July 2025, Bill Gates' net worth is estimated at $129 billion, according to Bloomberg Billionaires Index, placing him among the top 10 wealthiest people in the world. His wealth has declined somewhat in recent years due to stepping away from executive roles at Microsoft and his massive charitable donations. Gates has pledged to give away the majority of his fortune as part of the "Giving Pledge" initiative he co-launched with Warren Buffett. Nonetheless, Gates' investments remain diverse, including significant holdings through Cascade Investment, a firm managing assets in sectors such as energy, real estate, hospitality, and railroads. From tech pioneer to global philanthropist, Bill Gates continues to inspire generations with a life shaped by vision, resilience, and purpose.
Roya News
14 hours ago
- Roya News
How did Mark Zuckerberg become $26B richer in 24 hours?
Meta CEO Mark Zuckerberg is having a standout week as his net worth skyrockets to an all-time high of USD 271 billion, following a stellar earnings report from his company, Business Insider reported. According to the Bloomberg Billionaires Index on August 1, 2025, Zuckerberg's wealth jumped by USD 26.8 billion in a single day, positioning him as the third-richest person globally, trailing only Tesla's Elon Musk and Oracle founder Larry Ellison. The surge followed Meta's report of second-quarter earnings that exceeded analysts' expectations. Shares soared more than 12 percent in after-hours trading on Wednesday, reaching a historic high of USD 780. The company's earnings call was largely dominated by discussion of Meta's future in artificial intelligence. Zuckerberg outlined an ambitious vision of developing 'personal superintelligence' for the masses, a goal he detailed in a letter published hours before the call. He emphasized Meta's ongoing investment in AI talent, highlighting the newly formed Superintelligence Labs team. 'Small talent-dense teams are the optimal configuration for driving frontier research,' Zuckerberg said, referencing Meta's strategy of hiring top-tier AI experts. Zuckerberg also emphasized his belief in smart glasses as the future interface for AI, describing them as "the ideal form factor for AI" and warning that failing to adopt them could lead to a "significant cognitive disadvantage." Meta has already launched its Ray-Ban smart glasses and more recently introduced Oakley Meta eyewear. A prototype of its augmented reality Orion glasses was also showcased last fall. When asked whether Meta would continue its open-source approach to AI development, Zuckerberg signaled cautious optimism but left room for change. 'We're getting models that are so big that they're just not practical for a lot of other people to use,' he said. 'So we kind of wrestle with whether it's productive or helpful to share that, or if that's really just primarily helping competitors or something like that.'
Jordan News
a day ago
- Jordan News
Artificial Intelligence Swallows Billions… Spending Surpasses U.S. Education and Labor Budgets - Jordan News
Artificial Intelligence Swallows Billions… Spending Surpasses U.S. Education and Labor Budgets By 2025, leading American companies had spent nearly $155 billion on AI development, competing fiercely to outspend one another—an amount that exceeds the U.S. government's total expenditure on education, training, employment, and social services in the current fiscal year. اضافة اعلان According to the latest financial disclosures from major Silicon Valley firms, this spending race is expected to accelerate, potentially reaching hundreds of billions of dollars in a single year. Over the past two weeks, Meta, Microsoft, Amazon, and Alphabet (Google's parent company) released their quarterly financial reports. Each company revealed that their year-to-date capital expenditures (CapEx)—which represent spending on physical assets such as servers and data centers—had already reached tens of billions of dollars. "CapEx" has become a shorthand indicator for tech giants' AI investments, as AI requires massive physical infrastructure: high-performance data centers that consume enormous amounts of electricity, water, and costly semiconductor chips, according to a report by The Guardian. Google stated its CapEx 'primarily reflects investments in servers and data centers to support AI.' Meanwhile, Meta reported CapEx of $30.7 billion year-to-date—double the $15.2 billion it had spent in the same period last year. In the last quarter alone, Meta spent $17 billion, again double the $8.5 billion it spent in Q2 2024. Alphabet reported nearly $40 billion in CapEx for the first two quarters of this fiscal year, and Amazon reported $55.7 billion. Microsoft announced plans to spend over $30 billion in the current quarter alone to build AI data centers. CFO Amy Hood said this would be at least 50% more than what was spent during the same period last year and higher than the company's record CapEx of $24.2 billion in the quarter ending in June. Hood emphasized: 'We will continue investing in upcoming opportunities.' Looking ahead, Big Tech's total CapEx is expected to skyrocket in the next fiscal year, surpassing even last year's record figures. Microsoft CEO Satya Nadella said Wednesday that the company plans to spend approximately $100 billion on AI in the next fiscal year. Meta is planning to spend between $66–72 billion, Alphabet aims for $85 billion (up from its earlier estimate of $75 billion), and Amazon projects spending $100 billion, primarily through Amazon Web Services, which analysts expect to hit $118 billion. Collectively, these four companies are forecasted to spend over $400 billion on CapEx in the coming year, according to The Wall Street Journal—a figure that exceeds the EU's quarterly defense budget. Despite these mind-boggling sums, some investors believe Big Tech still isn't spending enough. Microsoft, Google, and Meta each told Wall Street analysts last quarter that their CapEx would exceed earlier estimates. Investor reaction was overwhelmingly positive: the stock prices of all three surged following their earnings reports. Microsoft's market cap soared to $4 trillion the day after its report. Even Apple, traditionally the most cautious of the tech giants, signaled a significant ramp-up in AI spending next year, through internal investments or acquisitions. Its quarterly CapEx rose to $3.46 billion, up from $2.15 billion in the same period last year. On Thursday, Apple announced robust earnings, buoyed by strong iPhone sales and better-than-expected performance in China, though it still lags behind other tech giants in rolling out AI products. CEO Tim Cook said Thursday that Apple is reallocating "a fair number" of employees to focus on AI, adding: 'The core of our AI strategy' is to increase investment and integrate AI into all devices and platforms. However, Cook declined to disclose how much the company plans to spend, saying only, 'We are significantly expanding our investments, but I won't put specific numbers on it.' According to The Guardian, smaller firms are scrambling to keep up with the AI spending spree. OpenAI recently announced it had raised $8.3 billion as part of a planned $40 billion funding round, bringing the startup's valuation to an estimated $300 billion—just three years after launching its groundbreaking chatbot, ChatGPT, in 2022. — (Agencies)
