Bill Gates reveals where 99% of his fortune will go

Bill Gates pledges to give away most of his wealth

Microsoft billionaire Bill Gates announced Thursday that he plans to give $200 billion to his charitable foundation by 2045. Gates also called out Elon Musk, accusing him of "killing the world's poorest children" through cuts to the U.S. foreign aid budget.

Microsoft founder Bill Gates gave more details this week about where his vast fortune will go, just weeks after revealing that he will give away 99% of it. 

Today, that would be worth an estimated $107 billion.

The pledge is among the largest philanthropic gifts ever – outpacing the historic contributions of industrialists like John D. Rockefeller and Andrew Carnegie when adjusted for inflation. Only Berkshire Hathaway investor Warren Buffett’s pledge to donate his fortune — currently estimated by Forbes at $160 billion — may be larger depending on stock market fluctuations.

Where will Bill Gates’ fortune go? 

The backstory:

In May, Gates pledged 99% of his remaining fortune to the Gates Foundation, which will spend it all within 20 years. The funds will be delivered over time and will allow the foundation to spend another $200 billion by the time it closes in 2045.

What they're saying:

"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, according to BBC. 

RELATED: Bill Gates announces plans for his $107B fortune

"By unleashing human potential through health and education, every country in Africa should be on a path to prosperity," he continued. 

Asked why he plans on closing his Gates Foundation in 20 years, Gates said he believes it’s "the right balance."

Microsoft founder and philanthropist Bill Gates smiles during a meeting with Indonesian President Prabowo Subianto (not pictured) and several business figures at the Merdeka Palace in Jakarta on May 7, 2025. (Photo by BAY ISMOYO/AFP via Getty Images)

"I think 20 years is the right balance between giving as much as we can to make progress on these things and giving people a lot of notice that now this money will be gone. It will be spent. Hopefully, many of these diseases are eradicated, so nobody even knows, ‘What was malaria? What was polio?’ in the years ahead."

Gates said he hopes other billionaires will "wallop me" when it comes to giving away their wealth. 

"Even today, there’s probably a dozen people richer than I am, because I don’t count the money that I’ve already got in the foundation. I have just a bit over $100 billion outside of the foundation. I’d love to be beat in all of this work. Somebody should try and pay more taxes than I did, and save more lives than I did, and give more money than I did, and be smarter than I’ve been," he said. 

The Gates Foundation’s influence

Dig deeper:

The Gates Foundation has long been peerless among foundations — attracting supporters and detractors but also numerous unfounded conspiracy theories.

In addition to the $100 billion it has spent since its founding 25 years ago, it has directed scientific research, helped develop new technologies, and nurtured long-term partnerships with countries and companies.

About 41% of the foundation’s money so far has come from Warren Buffett and the rest from the fortune Gates made at Microsoft.

Started by Bill Gates and Melinda French Gates in 2000, the foundation plays a significant role in shaping global health policy and has carved out a special niche by partnering with companies to drive down the cost of medical treatments so low- and middle-income countries could afford them.

"The foundation work has been way more impactful than I expected," Gates said, calling it his second and final career.

The other side:

The foundation’s influence on global health — from the World Health Organization to research agendas — is both a measure of its success and a magnet for criticism. For years, researchers have asked why a wealthy family should have so much sway over how the world improves people’s health and responds to crises.

Gates said, like any private citizen, he can choose how to spend the money he earns and has decided to do everything he can to reduce childhood deaths.

"Is that a bad thing? It’s not an important cause? People can criticize it," he said, but the foundation will stick to its global health work.