Bill Gates, Microsoft’s cofounder, declared on Thursday that he plans to accelerate the distribution of his wealth. He also highlighted how artificial intelligence could be transformative in enhancing global public health and saving lives worldwide.
According to a revised schedule, the Gates Foundation intends to allocate over $200 billion over the coming two decades, concluding operations in 2045. Initially, the foundation was slated to wind down twenty years following Bill Gates’ passing.
The statement was made as Gates targeted another wealthy technology magnate, Elon Musk.
The CEO of Tesla enforced severe reductions at the US Agency for International Development due to Musk not attending a party that weekend, according to Gates’ remarks to The New York Times, which seemed like a critique of Musk’s personal life.
Bill Gates ranks at number 13 on the Forbes “real-time” billionaires list, boasting a fortune of $112.6 billion. Elon Musk leads the pack with a net worth of $383.2 billion.
At 69 years old, Gates posted a graph in a blog entry detailing how his wealth could decrease by 99 percent over the coming two decades. He announced an acceleration in his philanthropy efforts, effectively doubling their intensity.
“People will have many things to say about me after my death, but I am resolved that ‘he passed away wealthy’ shall not be among them,” Gates penned.
In the year 2000, when Bill Gates resigned from his role as CEO at Microsoft, the Bill and Melinda Gates Foundation was established. Fast forward to 2024, three years following their separation, Melinda French Gates left her position within the organization.
By the close of 2023, the entity boasted over $71 billion in assets and has been acknowledged for its role in transforming the landscape of international public health.
The list includes five offices across Africa along with sites in the United States, Europe, China, India, and the Middle East.
Gates pointed out advancements in health initiatives such as programs aimed at eradicating polio and the development of a new rotavirus vaccine. This breakthrough has contributed to reducing child deaths caused by diarrhea by 75 percent annually.
Apart from the Gates Foundation, the former Microsoft head stated his intention to keep supporting efforts aimed at increasing access to inexpensive energy as well as pioneering studies into Alzheimer’s disease.
– Not a ‘lifetime’ base –
In his blog post, Gates acknowledged the influence of 19th-century American steel tycoon Andrew Carnegie, whose foundation continues to operate today.
However, Gates informed The New York Times that he had no intention of establishing a “permanent” foundation for some oddlegacy reason, opting instead to continue disbursing billions to capitalize on developing technologies.
“The tools are incredibly impressive,” he stated regarding the possibilities of AI in global health.
“All the intelligence will reside within the AI, providing each person with access to a personal physician as competent as one employed full-time—this system would even surpass what wealthy nations currently offer,” Gates stated to the New York Times.
Although private foundations have significant capabilities, Gates emphasized the indispensable nature of governmental involvement, lamenting substantial reductions in budgets from the United States, Britain, France, and various other nations.
“It remains uncertain if the wealthiest nations will keep advocating for their most impoverished citizens. However, one certainty we have is that within all our initiatives, the Gates Foundation will back endeavors aimed at assisting individuals and nations in lifting themselves out of poverty,” he penned.
The actions have encompassed the attack on USAID by Musk’s “Department of Government Efficiency” during Donald Trump’s presidency.
Gates described the reductions as “shocking,” much deeper than anticipated.
Gates informed the New York Times that Musk was “the person who reduced the USAID budget,” adding that “he shredded it.”
During an interview with the Financial Times, Gates mocked Musk for his apparent mix-up between Gaza Province in Mozambique and the Gaza Strip in the Middle East, which occurred when the Trump administration was targeting certain programs.
“The image of the planet’s wealthiest individual extinguishing the lives of those least fortunate—poor children—is far from appealing,” Gates stated during an interview with the Financial Times regarding Musk.
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