Billionaire Bill Gates announced Thursday he will double his charitable giving to $200 billion over the next two decades, according to CNBC. In a blog post, Gates said he was motivated to increase his charitable giving by global challenges like children’s health and climate change, and by Andrew Carnegie’s warning against hoarding wealth. The billionaire said the Gates Foundation, which has donated over $100 billion since 2000, will close in 2045 after he gives away nearly all his wealth. He criticized Elon Musk for contributing to U.S. foreign aid cuts, warning of devastating effects, including untreated malnutrition and rising malaria deaths. Gates said philanthropy can’t replace billions in lost government aid.
