Bill Gates Pledges to Give Away Nearly All His Fortune in the Next 20 Years

Bill Gates, the billionaire philanthropist and Microsoft co-founder, announced exclusively on “CBS Mornings” that he plans to donate nearly his entire fortune—totaling $200 billion—within the next two decades.

Gates, who currently has a net worth of around $108 billion, said he aims to reduce that number by 99% as part of this massive giving initiative. The money will be funneled through the Gates Foundation, which he co-founded with ex-wife Melinda French Gates. By 2045, the foundation will close its doors, but not before working to save and improve lives worldwide.

Originally, the Gates Foundation was designed to continue long after Bill and Melinda’s passing. However, Gates shared that a sense of urgency has reshaped his vision. Inspired by the words of philanthropist Andrew Carnegie, he now believes it’s time to use his resources while he can still witness the change they create.

The foundation has already invested $100 billion over the past 25 years, helping reduce global childhood mortality and pushing forward medical innovation. From vaccines targeting deadly illnesses to programs improving maternal and child health, Gates has seen firsthand how impactful targeted funding can be.

With this new push, he’s focused on three major goals: preventing deaths of mothers and children from avoidable causes, eliminating deadly infectious diseases, and helping more nations achieve prosperity—especially through education.

Still, Gates acknowledged growing challenges. He expressed concern that foreign aid cuts, particularly under policies linked to the Trump administration, threaten to undo years of progress. While his foundation is powerful, Gates admitted it can’t replace the vast amounts of money typically provided by governments. In 2024 alone, the U.S. government spent nearly $72 billion on foreign aid, significantly more than the Gates Foundation.

Gates emphasized the importance of global partnerships, praising past U.S. initiatives like former President George W. Bush’s Emergency Plan for AIDS Relief. He hopes world leaders, regardless of politics, will recognize the value of sustaining humanitarian aid.

At nearly 70, Gates views this as the “last chapter” of his career. Though he’s letting go of his billionaire status, he joked that he’ll keep enough to buy a hamburger or two.