Bill Gates, the co-founder of Microsoft, recently shared what he plans to do with his huge $200 billion fortune — and it’s not going to his kids. Speaking in Addis Ababa, the capital of Ethiopia, the 69-year-old said most of his money will be used to improve healthcare and education in Africa over the next 20 years.
“I recently made a commitment that my wealth will be given away over the next 20 years,” Gates said at the African Union headquarters. “Most of that funding will help you tackle challenges here in Africa.”
He plans to give away 99% of his fortune by 2045. By then, his foundation—the Bill & Melinda Gates Foundation—will close down. The foundation’s main goals are to reduce deaths of mothers and babies, fight infectious diseases, and help millions of people escape poverty.
Gates also encouraged young people in Africa to use artificial intelligence (AI) to improve healthcare. He said Africa skipped traditional banking by using mobile phones, so now it’s a great chance to build AI into the next generation of health systems. He pointed to Rwanda, where AI-powered ultrasounds are already helping detect risky pregnancies.
Gates, in a blog post, wrote, “People will say many things about me when I die, but I want to make sure ‘he died rich’ is not one of them.”
Even after giving away most of his fortune, Gates will still likely be a billionaire.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
