Bill Gates to Donate 99% of Fortune by 2045, Closing Foundation

Bill Gates who co-founded Microsoft revealed his intention to donate 99% of his $108 billion wealth to the Bill & Melinda Gates Foundation which will shut down operations by 2045 before its scheduled end. Gates expressed his determination in a Thursday blog post that the phrase “he died rich” would not apply to him as he followed Andrew Carnegie’s 1889 essay The Gospel of Wealth which promotes wealth redistribution. The foundation which has distributed $100 billion for global health and development plans to use $200 billion from its endowment during the upcoming twenty years. Gates follows Warren Buffett’s example to achieve his mission of eliminating preventable diseases and eliminating infectious diseases like malaria and reducing poverty. The foundation faces criticism for its dominant control of global health policies and its tax benefits. Gates attacked Elon Musk for causing child deaths through his decision to cut US aid which included funding for a Mozambique hospital while simultaneously criticizing foreign aid reductions from the US and UK and France. The foundation works to reduce childhood mortality rates in half while creating better economic opportunities for people. Gates maintains his positive outlook about the foundation's achievements despite worldwide conflicts and decreased aid funding.