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Arabian Post
13 hours ago
- Business
- Arabian Post
Nigeria Awards Bill Gates Third-Highest National Honour
President Bola Tinubu has bestowed Nigeria's third-highest national honour, the Commander of the Order of the Federal Republic , on Bill Gates. The recognition acknowledges Gates's substantial philanthropic contributions to the country, particularly through the Bill & Melinda Gates Foundation, which has invested heavily in public health and agriculture sectors across Nigeria. The conferment took place during a formal ceremony in Abuja, underscoring the Nigerian government's appreciation for Gates's enduring commitment to tackling some of the country's most pressing challenges. The award is one of the highest civilian distinctions in Nigeria, given to individuals who have demonstrated exceptional service and impact in their fields. Bill Gates's foundation has been deeply involved in Nigeria's healthcare system for over two decades, focusing on eradicating infectious diseases such as polio and malaria. Nigeria was declared free of wild poliovirus in 2020, a landmark achievement in which the Gates Foundation played a crucial role by funding vaccination drives and strengthening immunisation infrastructure. The foundation's partnership with the Nigerian government and global health agencies has also targeted maternal and child health, investing in initiatives to reduce mortality rates and improve healthcare delivery in underserved regions. ADVERTISEMENT Agriculture has been another cornerstone of Gates's philanthropic efforts in Nigeria. Recognising the sector's vital role in economic development and food security, the foundation has supported numerous programmes aimed at boosting agricultural productivity and innovation. These initiatives include funding research on climate-resilient crops and providing farmers with access to better seeds, technology, and market information. Such efforts have helped smallholder farmers increase yields and income, while also encouraging sustainable farming practices. President Tinubu, addressing the ceremony, highlighted that awarding Gates reflected Nigeria's gratitude for the substantial socio-economic benefits generated by the foundation's investments. The president described the honour as a symbol of the enduring partnership between Nigeria and the philanthropic community in advancing public welfare. Tinubu also emphasised the importance of sustained collaboration with private and non-governmental actors to accelerate development goals and improve living standards nationwide. Gates, who attended the ceremony virtually, expressed deep appreciation for the honour and reaffirmed his foundation's commitment to Nigeria. He reiterated the importance of investing in health and agriculture as foundations for economic growth and social stability. Gates pointed out that despite progress, challenges such as health system capacity and climate change effects on agriculture require ongoing attention and innovation. He pledged continued support for initiatives that empower communities and foster resilience. Analysts note that Nigeria's decision to honour Gates highlights a broader trend of recognising global philanthropic leaders whose work transcends borders. The Nigerian government has increasingly embraced public-private partnerships to address systemic issues, acknowledging that complex challenges demand diverse resources and expertise. This honour may also encourage other international donors and investors to intensify their engagement with Nigeria, given the country's critical position in Africa's economy and demographic landscape. However, the move has not been without critics. Some voices within Nigeria argue that such awards should prioritise domestic actors and public servants who have directly contributed to national progress. Critics also caution that foreign philanthropic efforts, while beneficial, must align closely with national priorities and be subject to transparent oversight to ensure long-term impact. Despite these concerns, the overall response to Gates's recognition has been largely positive, reflecting a consensus on the value of his foundation's work. ADVERTISEMENT The Gates Foundation's investments in Nigeria are part of a global portfolio that addresses health, poverty, and education, with a growing focus on innovation and technology. Nigeria remains a key beneficiary due to its large population and development needs. The foundation's work complements efforts by other international agencies and governments, creating a multifaceted support network for Nigeria's socio-economic advancement. Nigeria faces persistent challenges in health and agriculture, with disease burdens and food insecurity impacting millions. The government has prioritised reforms and increased budget allocations in these sectors, but resource gaps remain significant. Philanthropic contributions, such as those from the Gates Foundation, provide critical supplementary funding and expertise. The recent honour on Gates symbolises the appreciation of these contributions while signalling a desire for deeper engagement and partnership. Bill Gates's recognition coincides with Nigeria's strategic push to attract investment and innovation to drive sustainable development. It comes at a time when the country seeks to strengthen healthcare infrastructure, boost agricultural output, and improve overall resilience to climate and economic shocks. This award underscores the role that international philanthropic actors play in complementing state efforts and fostering global cooperation on development challenges.
News18
a day ago
- Business
- News18
Bill Gates To Donate 99% Of His $200 Billion Wealth: Who Will Benefit?
Last Updated: Bill Gates plans to donate 99% of his $200 billion wealth by 2045, to improve health and education in Africa over the next 20 years. Gates Foundation will end operations by 2045. Bill Gates, co-founder of tech giant Microsoft, is planning to donate 99% of his wealth, mainly to improve health and education services in Africa, over the next 20 years. The wealth of the world's fifth richest person, which currently stands at about $175 billion as per the Bloomberg Billionaire Index, is expected to touch nearly $200 billion by 2045, the year by which his foundation plans to end its operations. Speaking at the African Union headquarters at Addis Ababa, Ethiopia, recently, the 69-year-old billionaire, according to BBC, said, '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." Last month, Gates announced his commitment to donate 99% of his wealth by 2045. The Gates Foundation said it had three priorities: ending preventable deaths of mothers and babies, ensuring the next generation grows up without having to suffer from deadly infectious diseases, and lifting millions of people out of poverty. Most of Bill Gates's wealth comes from Cascade Investment, a holding firm established using the earnings from his Microsoft stock sales and dividends. According to Bloomberg data analysis, Gates has accumulated over $60 billion through stock and dividend income from Microsoft and other firms. This includes a notable $3.3 billion dividend payout in 2004, which he contributed to his charitable foundation. Currently, Gates holds around 1% of Microsoft, the world's leading software company. He resigned from Microsoft's board in March 2020, and his ownership details haven't appeared in proxy filings since then. Holdings under the Bill & Melinda Gates Foundation, which supports global health, education, and poverty relief, are excluded from his personal net worth estimate. Consistent with his long-standing views on wealth and inheritance, Gates plans to leave only 1% of his fortune to his children. Gates Foundation to Wind Down by 2045 Bill Gates has announced that the Bill & Melinda Gates Foundation will conclude its operations on December 31, 2045, several decades before originally intended. This decision aligns with his commitment to donate 99% of his estimated $200 billion fortune over the next two decades. Bill Gates Advocates For Use Of AI Gates is advocating for the use of technological advancements, including artificial intelligence, to enhance healthcare outcomes in Africa. He cited Rwanda's use of AI-enabled ultrasound technology to identify high-risk pregnancies as an example of how innovation can improve health services. He urged the continent's youth to leverage AI to strengthen healthcare systems, drawing a parallel to how mobile phones transformed financial services across Africa. 'Africa largely skipped traditional banking. Now you have a chance, as you build your next generation healthcare systems, to think about how AI is built into that," Gates said. First Published: June 03, 2025, 16:43 IST
Business Insider
a day ago
- Business
- Business Insider
Bill Gates pledges most of his $200bn fortune to Africa
American billionaire, Bill Gates says the majority of his wealth will be directed toward improving health and education across Africa over the next two decades. Bill Gates announced his commitment to donate a significant portion of his wealth, approximately 99% by 2045. The Bill & Melinda Gates Foundation has already disbursed over $100 billion toward global development since its inception in 2000. Gates emphasized the potential of improving healthcare and education systems to unlock human potential and promote prosperity across African nations. American billionaire, Bill Gates says the majority of his wealth will be directed toward improving health and education across Africa over the next two decades. "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," he said in an address at the African Union (AU) headquarters in Addis Ababa, Ethiopia. The 69-year-old philanthropist said that unlocking human potential through better healthcare and education could place every African nation on a path to prosperity. Last month, Bill Gates announced plans to donate 99% of his estimated fortune of $200 billion (£150 billion) by 2045, the year his foundation is expected to wind down its operations. The Bill & Melinda Gates Foundation has disbursed over $100 billion since its launch in 2000 by Bill Gates and Melinda French Gates. Originally, the foundation was set to close 20 years after the Microsoft Corp. co-founder's death. Giving away 99% of his fortune could still leave the fifth-richest person in the world a billionaire, according to Bloomberg. Since the U.S. government reduced aid to Africa, including funding for HIV/AIDS treatment programs, under President Donald Trump's protectionist policy, there have been concerns about the future of healthcare across the continent. In response, Bill Gates said his foundation, which has long operated in Africa, will prioritize strengthening primary healthcare systems. He also urged young African innovators to explore how artificial intelligence (AI) can be used to transform health outcomes on the continent.
Time of India
5 days ago
- Business
- Time of India
Want Amaravati to be the next Davos, says CM at CII meet
Vijayawada: Chief minister N Chandrababu Naidu on Friday urged industrialists to support the building of a global leadership centre (GLC) in Amaravati, which he said would become the destination for global investors and industrialists instead of Davos in future. Addressing the CII conference in New Delhi, Naidu said they have been going to Davos to network, exchange ideas, and meet people. "Instead, I want to make Amaravati the new global centre. All leaders should come to Amaravati and India to cultivate leadership. We want to promote more leaders to lead and provide services to the global community, and for that, we need a global leadership centre to achieve the goal. I request you all to support the setting up of GLC in Amaravati to produce the leaders of tomorrow," he said. He invited industry captains to become partners in the historic journey of construction of greenfield capital city Amaravati. "We are aiming for more than 15% annual growth, reaching a $2.4 trillion economy with a per capita income of $42,000 by 2047 — making Andhra Pradesh one of India's most prosperous and inclusive states," he added. The CM said empowering the youth is central to his vision. "When I was jailed unjustly, tech professionals in 80 countries protested. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Espalhe a sua marca para milhares de pessoas Balinhas Personalizadas Solicite orçamento Undo Don't just seek jobs, become entrepreneurs. Our global leadership centre will create a cascading effect of change-makers and global citizens. We have launched the national academy of construction and started India's first equipment bank. The first phase of Amaravati will be completed in three years, including an international airport and world-class infrastructure," Naidu said. He said they have been working with Bill & Melinda Gates Foundation in Kuppam to integrate AI into healthcare and establish real-time medical monitoring. "Nearly 35% of AP's GSDP is agro-based. We are promoting aqua zones, horticulture, agri-processing, and global brands like Araku coffee. The state govt is developing 175 industrial parks in 175 constituencies, backed by cluster-based skilling and tourism infrastructure to create 50,000 hotel rooms in five years. CII is collaborating with us to scale up skilling efforts. We offer proof of concept. Through viability gap funding, new models, and proactive hand-holding, we will ensure that entrepreneurs succeed, even in challenging conditions. Public policy matters deeply," he concluded.
AU Financial Review
22-05-2025
- Business
- AU Financial Review
Bill Gates is giving away $310b. Can his plans survive the Trump era?
Twenty-five years ago, Bill Gates, then the world's richest man, announced that he would start giving away his fortune to save lives and reduce poverty abroad and at home. Since then, the Bill & Melinda Gates Foundation, which the Microsoft co-founder established with his then-wife, Melinda French Gates, has donated more than $US100 billion (to global health, development and education. Now Gates, who turns 70 this year, is doubling down. Over the next 20 years the Gates Foundation, renamed last year after his 2021 divorce, will give away a further $US200 billion. On December 31, 2045, by which time Gates would be 90, it will shut down permanently. By then, Gates has committed to have spent 99 per cent of his fortune, leaving himself enough money, as he once quipped, 'for my tennis racquet'. In a letter announcing what he called 'the last chapter of my career', Gates quotes Andrew Carnegie, the 19th-century steel magnate and philanthropist, saying: 'The man who dies thus rich dies disgraced.'
