Bill Gates to Donate 99% of His Wealth to His Foundation Over the Next 20 Years

Bill Gates, the billionaire co-founder of Microsoft, has announced he will distribute 99% of his wealth, approximately $200 billion, to the Gates Foundation over the next two decades. The foundation will double its spending during this period and will close by the end of 2045.

The Details: Gates has outlined three main objectives for his philanthropy: halting preventable deaths of mothers and children, ending deadly infectious diseases, and promoting prosperity in more countries via education. The Gates Foundation has already spent $100 billion on reducing global childhood mortality by investing in medical innovation. Gates has expressed concerns that progress could be hindered as the US and European countries decrease foreign aid and humanitarian funding.

For Context: Gates has said his increased giving is not intended to compensate for government reductions. The Gates Foundation has been a significant player in global health initiatives, investing in HIV prevention and polio eradication, among other things.

How The Media Covered It: The story was covered by outlets in the center and on the left more than the right. Daily Mail (Right bias) noted the 1% of his wealth left to his family. Wall Street Journal (Center) focused on the government funding cuts, as did CBS News (Lean Left). CBS News also emphasized Gates' thoughts about his legacy; he said, "People will say a lot of things about me when I die, but I am determined that 'he died rich' will not be one of them. There are too many urgent problems to solve for me to hold onto resources that could be used to help people." 

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