Bill Gates has announced that he will be donating nearly all his personal wealth-an estimated $200 billion-by 2045 through the Bill & Melinda Gates Foundation, accelerating his giving and planning to close the foundation by the end of that year.

During the foundation's 25th anniversary, Gates lashed out at Elon Musk for being the main reason why he has to expedite the closing of the foundation by 2045, saying

"The world's richest man is killing the world's poorest children.

Elon Musk's Federal Cuts Will Reverse Years Of Progression

Gates' criticism comes shortly after the Trump administration and Elon Musk's DOGE decided to slash the international aid budget used to prevent deadly diseases and famine.

This comes after Elon Musk's controversial tweet, comparing the allocation of funds to U.S Agency for International Development-America's primary agency for administering foreign aid and development assistance-to feeding into the wood Chipper.

Nearly 80% of USAID programs are set to be cut, with the agency’s $44 billion global budget for 2023 dramatically reduced under Musk’s stewardship.

Gates argued that these cuts threaten to undo years of progress against diseases like measles, HIV, and polio, and could have devastating consequences for the world’s most vulnerable populations.

"The number of deaths will start going up for the first time... It's going to be million more deaths because of the resources."

But it seems that Elon Musk doesn't agree that the federal cut would have such a drastic impact. In one of his X posts, Musk called Gates a HUGE LIAR!

Gates Cries for Government Support

The Microsoft co-founder, currently worth around $108 billion, said the foundation’s accelerated spending aims to eradicate diseases like polio and malaria, end preventable deaths among women and children, and reduce global poverty.

The Gates Foundation's annual budget will reach $9 billion by 2026 and around $10 billion annually after that due to the accelerated spending. However, Gates has warned the White House that his foundation and other philanthropists won't be able to fully fill the gaps left by the government.

Gates noted that, while the foundation’s giving will have a major impact, lasting progress depends on renewed government commitment to global health and development. Having said that, Gates remains optimistic

"I think the government will come back to caring about children surviving over the next 20-year period."

He praised some African governments for reallocating budgets to offset aid cuts, but stressed that eradicating diseases like polio will require sustained US funding.

The Gates Foundation, founded by Gates and his former wife Melinda French Gates, with later support from Warren Buffett, will close after spending down 99% of Gates’ wealth.

This move also will fulfill Gate's vision that "dying wealthy" will not be part of his legacy.