Share
4th June 2025
05:22pm BST
According to BBC News, the 69-year-old billionaire will spend most of his assets on improving health and education services in Africa over the next 20 years.
He said that "by unleashing human potential through health and education, every country in Africa should be on a path to prosperity".
During his talk in Addis Ababa, Ethiopia's capital, Gates explained that the Gates Foundation has had a long history of operating in Africa and will therefore continue focussing on improving its primary healthcare.
Gates announced that he would give away 99% of his vast capital.
He expects this to amount to $200bn (£150bn) by 2045 when his foundation plans to end its operations.
"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," he said during his talk at the African Union (AU) headquarters.
The US government has recently expired aid to Africa, cutting ties with programmes to treat patients with HIV/Aids, as part of US President Donald Trump's 'America First' policy.
These cuts have raised concerns about the future of healthcare in Africa.
He directs his attention to Africa's young innovators motivating them to think about developing Artificial Intelligence (AI) to help improve healthcare on the continent.
The tech billionaire pointed out that mobile phones have revolutionised banking in Africa, and that AI should be the next step in benefiting the continent's welfare.
"Africa largely skipped traditional banking and now you have a chance, as you build your next generation healthcare systems, to think about how AI is built into that," he said.
The Gates Foundation concluded it has three priorities: ending preventable deaths of mothers and babies, ensuring the next generation grows up without having to suffer from deadly infectious diseases, and finally, lifting millions of people out of poverty.
Bill Gates can be counted among the richest people in the world, ranking thirteenth. According to Bloomberg, Bill Gates could likely still be a billionaire, even after giving away 99% of his fortune.
Bill Gates founded Microsoft in 1975 along with Paul Allen. It didn't take long for the tech company to become a dominant force in software.
In the past years, Gates has gradually taken a few steps back from the company.
He resigned as chief executive in 2000 and as chairman in 2014.
