Bill Gates Doubles Giving To $200 Billion, Vows To Give Away Most Of His Fortune

Benzinga

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.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Bill Gates announced Thursday he will double his charitable giving to $200 billion over the next two decades, according to CNBC.

00:09In a blog post, Gates said he was motivated to increase his charitable giving by global challenges like children's health and climate change,

00:15and by Andrew Carnegie's warning against hoarding wealth.

00:18Billionaires said the Gates Foundation, which has donated over $100 billion since 2000,

00:22will close in 2045 after he gives away nearly all his wealth.

00:25He criticized Elon Musk for contributing to U.S. foreign aid cuts, warning of devastating effects,

00:30including untreated malnutrition, and rising malaria deaths.

00:34Gates said philanthropy can't replace billions in lost government aid.

00:36For all things money, visit Benzinga.com slash GSTV.

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