Microsoft co-founder Bill Gates has revealed what he plans to do with his $200 billion fortune, saying most of the money will go to Africa.
On Monday (June 2), Gates appeared at the Nelson Mandela Hall at the African Union in Addis Ababa, Ethiopia, where he revealed that he intends to donate the bulk of his fortune to Africa through his foundation over the next 20 years, per CBS News. Gates previously said his goal was to support causes that would help save and improve lives across the globe.
“I recently made a commitment that my wealth will be given away over the next 20 years. The majority of that funding will be spent on helping you address challenges here in Africa,” Gates said Monday.
Earlier this month, Gates said he pulled inspiration to donate the bulk of his fortune from Andrew Carnegie’s 1889 quote that states, “the man who dies thus rich dies disgraced.” The tech billionaire said his net worth, which is currently valued at $108 billion, will drop 99 percent over the next 20 years.
Gates said Monday that his donations would largely be used to partner with governments that are prioritizing their citizens’ health and well-being. The Microsoft co-founder announced his support for programs in Africa amid the U.S. scaling back on foreign aid and humanitarian funding.
“By unleashing human potential through health and education, every country in Africa should be on a path to prosperity — and that path is an exciting thing to be part of,” Gates said.
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