{"id":24211,"date":"2025-05-08T12:34:28","date_gmt":"2025-05-08T12:34:28","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/bill-gates-explains-why-hes-giving-away-virtually-all-of-his-wealth-by-2045-in-cbs-mornings-interview\/"},"modified":"2025-05-08T12:34:28","modified_gmt":"2025-05-08T12:34:28","slug":"bill-gates-explains-why-hes-giving-away-virtually-all-of-his-wealth-by-2045-in-cbs-mornings-interview","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/bill-gates-explains-why-hes-giving-away-virtually-all-of-his-wealth-by-2045-in-cbs-mornings-interview\/","title":{"rendered":"Bill Gates explains why he&#8217;s giving away virtually all of his wealth by 2045 in &#8220;CBS Mornings&#8221; interview"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p><a href=\"https:\/\/www.cbsnews.com\/tag\/bill-gates\/\" rel=\"nofollow\" data-invalid-url-rewritten-http=\"\">Bill Gates<\/a> wants to share all of his good fortune \u2014 literally.\u00a0<\/p>\n<p>The billionaire businessman and philanthropist revealed exclusively to &#8220;CBS Mornings&#8221; on Thursday that he will give away virtually all of his wealth over the next 20 years through the <a href=\"https:\/\/www.gatesfoundation.org\/\" target=\"_blank\" rel=\"nofollow noopener\">Gates Foundation<\/a>. He says a total of $200 billion will go toward causes that will help save and improve lives around the world.\u00a0<\/p>\n<p>&#8220;By deciding to spend all this money in the next 20 years, we can get a lot more done,&#8221; Gates said in an interview taped last week, days before he announced the initiative. He&#8217;s confident the money will save &#8220;tens of millions of lives.&#8221;<\/p>\n<h2>A change of plans\u00a0<\/h2>\n<p>It&#8217;s a decision Gates did not take lightly, explaining in a letter posted online Thursday that he was inspired by a famous quote from Andrew Carnegie&#8217;s 1889 essay <a href=\"https:\/\/www.carnegie.org\/about\/our-history\/gospelofwealth\/\" target=\"_blank\" rel=\"nofollow noopener\">&#8220;The Gospel of Wealth,&#8221;<\/a> which argued &#8220;the man who dies thus rich dies disgraced.&#8221;\u00a0<\/p>\n<p>Gates said his net worth, which is currently $108 billion, will drop 99% over the next two decades.<\/p>\n<p>&#8220;People will say a lot of things about me when I die, but I am determined that &#8216;he died rich&#8217; 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,&#8221; Gates wrote.\u00a0<\/p>\n<p>So, he changed his plans. The Gates Foundation, which was originally supposed to shutter decades after his and <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/melinda-french-gates-bill-gates\/\" data-invalid-url-rewritten-http=\"\">ex-wife Melinda French Gates<\/a><\/span>&#8216; deaths, will now close in 2045.<\/p>\n<p>The Gates Foundation, which is <a href=\"https:\/\/www.cbsnews.com\/tag\/bill-melinda-gates-foundation\/\" rel=\"nofollow\" data-invalid-url-rewritten-http=\"\">marking its 25th anniversary<\/a> this year, has already spent $100 billion to help cut the global childhood mortality rate by investing in medical innovations. Gates said he&#8217;s seen firsthand how impactful the distribution of vaccines for illnesses like diarrhea and pneumonia can be. That&#8217;s why he&#8217;s determined to &#8220;double down.&#8221;\u00a0<\/p>\n<p>He has three main goals: stopping the deaths of mothers and children from preventable causes, eradicating deadly infectious diseases, and putting more countries on a path to prosperity \u2014 with a focus on improving education.<\/p>\n<h2>Gates says more children will could die to Trump administration aid cuts<\/h2>\n<p>But he&#8217;s concerned progress could be stalled as the U.S. and European countries scale back on <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/usaid-and-the-dangers-posed-by-cuts-to-u-s-foreign-aid\/\" data-invalid-url-rewritten-http=\"\">foreign aid<\/a><\/span> and reduce <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/funding-aids-relief-pepfar-foreign-aid-millions-medication\/\" data-invalid-url-rewritten-http=\"\">humanitarian funding<\/a><\/span>.\u00a0<\/p>\n<p>In 2023, an estimated 4.8 million children died before reaching the age of 5, according to a UNICEF <a href=\"https:\/\/data.unicef.org\/resources\/levels-and-trends-in-child-mortality-2024\/\" target=\"_blank\" rel=\"nofollow noopener\">report released in March<\/a>. Without substantial government assistance, Gates says that number will rise.\u00a0<\/p>\n<p>&#8220;So we should be going from 5 million children dying a year over the next five years to 4 million. And now with these cuts, if they&#8217;re not reversed, we will go to over 6 million dying. So, instead of going down, we will go back up,&#8221; Gates said.<\/p>\n<p>Gates said he&#8217;s been in touch with President Trump and had a &#8220;great discussion&#8221; about some of his foundation&#8217;s initiatives, including HIV prevention and polio, over dinner at Mar-a-Lago in December.<\/p>\n<p>&#8220;Since then, some of the programs have been cut off,&#8221; Gates said. &#8220;And I&#8217;m hoping, both with the president or the Congress, to get them to restore some of those aid activities.&#8221;<\/p>\n<p>On the first day of his second term, Mr. Trump signed an executive order to start the country&#8217;s<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-withdraw-us-world-health-organization\/\" data-invalid-url-rewritten-http=\"\"> withdrawal from the World Health Organization<\/a><\/span>. In March, the Trump administration revealed plans to shrink the Department of Health and Human Services \u2013 a <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/hhs-layoffs-federal-agencies-track-disease-regulate-food-health-insurance\/\" data-invalid-url-rewritten-http=\"\">major overhaul<\/a><\/span> that impacted thousands of employees. Part of his plans to slash federal spending also included the <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-aid-freeze-could-hit-sudan-starving-children\/\" data-invalid-url-rewritten-http=\"\">suspension of U.S. foreign aid assistance<\/a><\/span>, essentially gutting the U.S. Agency for International Development, or USAID.<\/p>\n<p>Last week, a senior official with the Office of Management and Budget said Mr. Trump&#8217;s <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-budget-proposal-discretionary-defense-spending\/\" data-invalid-url-rewritten-http=\"\">proposed budget for fiscal year 2026<\/a><\/span> also includes &#8220;enormous cuts to foreign aid,&#8221; focusing more on &#8220;targeted&#8221; foreign aid in situations when it&#8217;s in the interest of the U.S.<\/p>\n<p>The Gates Foundation isn&#8217;t large enough to replace U.S. foreign aid. In fiscal 2024 alone, the U.S. federal government disbursed nearly $72 billion in foreign aid, according to the <a href=\"https:\/\/www.pewresearch.org\/short-reads\/2025\/02\/06\/what-the-data-says-about-us-foreign-aid\/\" target=\"_blank\" rel=\"nofollow noopener\">Pew Research Center<\/a>, which cited <a href=\"http:\/\/foreignassistance.gov\" target=\"_blank\" rel=\"nofollow noopener\">ForeignAssistance.gov<\/a>. The U.S. federal government spent four times more on global health than the Gates foundation, Gates said.<\/p>\n<p>&#8220;You always want more money going into these things where you&#8217;re saving lives for a few thousand dollars. And I will be an advocate for that,&#8221; said Gates, praising global health initiatives spearheaded by former President George W. Bush \u2014 like his <a href=\"https:\/\/www.state.gov\/pepfar\/a\" target=\"_blank\" rel=\"nofollow noopener\">Emergency Plan for AIDS Relief<\/a> launched in 2003 \u2014 which he says <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/foreign-aid-cuts-hiv-aids-deaths-study\/\" data-invalid-url-rewritten-http=\"\">should be maintained<\/a><\/span>.<\/p>\n<h2>&#8220;The last stage&#8221; of a long career<\/h2>\n<p>Gates, who is turning 70 years old this fall, said this move marks the beginning of the &#8220;last chapter&#8221; in his career. But he certainly hopes he&#8217;s around to see the impact it makes.<\/p>\n<p>&#8220;Well, I wish I had even more time. But I have to say, &#8216;OK, this is the last part of my life. And I&#8217;m a steward of these resources,'&#8221; he told &#8220;CBS Mornings.&#8221; &#8220;I should make sure that it&#8217;s well spent. And now this is the last stage of all that.&#8221;<\/p>\n<p>When asked if he&#8217;ll miss his billion-dollar fortune, Gates chuckled.<\/p>\n<p>&#8220;No, I won&#8217;t. I hope I&#8217;m still alive when we finish the 20 years, but I will save a little bit to be able to buy hamburgers as much as I need,&#8221; he said.<\/p>\n<p>    <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation \">\n        <\/aside>\n<p>    <!-- tags --><\/p>\n<div class=\"content-author\">\n      <a href=\"https:\/\/www.cbsnews.com\/team\/tony-dokoupil\/\" class=\"content-author__name\" data-invalid-url-rewritten-http=\"\">Tony  Dokoupil<\/a><\/p>\n<div class=\"content-author__bio\">\n<div class=\"content-author__image\">\n            <a href=\"https:\/\/www.cbsnews.com\/team\/tony-dokoupil\/\" data-invalid-url-rewritten-http=\"\"><br \/>\n              <span class=\"img \"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets3.cbsnewsstatic.com\/hub\/i\/r\/2024\/05\/17\/a267ba04-7c0d-47af-95b9-db6f659a2829\/thumbnail\/80x80\/0b7d340ddf4f887f377dd73ed1d66d50\/headshot-600-tony-dokoupil.jpg?v=e61856d8e666e7ed5709adc37bb2d465#\" alt=\"headshot-600-tony-dokoupil.jpg \" height=\"80\" width=\"80\" class=\" lazyload\" srcset=\"https:\/\/assets3.cbsnewsstatic.com\/hub\/i\/r\/2024\/05\/17\/a267ba04-7c0d-47af-95b9-db6f659a2829\/thumbnail\/80x80\/0b7d340ddf4f887f377dd73ed1d66d50\/headshot-600-tony-dokoupil.jpg?v=e61856d8e666e7ed5709adc37bb2d465 1x, https:\/\/assets1.cbsnewsstatic.com\/hub\/i\/r\/2024\/05\/17\/a267ba04-7c0d-47af-95b9-db6f659a2829\/thumbnail\/160x160\/1ec88c34fa57d45004598acc83259405\/headshot-600-tony-dokoupil.jpg?v=e61856d8e666e7ed5709adc37bb2d465 2x\" loading=\"lazy\"\/><\/span><br \/>\n            <\/a>\n          <\/div>\n<div class=\"content-author__full-information\">\n<p class=\"content-author__text\">Tony Dokoupil is a co-host of &#8220;CBS Mornings&#8221; and CBS Mornings Plus.&#8221; Dokoupil also anchors &#8220;The Uplift,&#8221; a weekly series spotlighting positive and inspiring stories for CBS News 24\/7.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/bill-gates-giving-away-virtually-all-wealth-2045\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bill Gates wants to share all of his good fortune \u2014 literally.\u00a0 The billionaire businessman and philanthropist revealed exclusively to<\/p>\n","protected":false},"author":1,"featured_media":24212,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[1371],"class_list":["post-24211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us","tag-bill-gates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bill Gates explains why he&#039;s giving away virtually all of his wealth by 2045 in &quot;CBS Mornings&quot; interview - World News<\/title>\n<meta name=\"description\" content=\"Bill Gates says $200 billion spent over the next 20 years will go toward causes to help save and improve lives around the world. 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