Microsoft co-founder Bill Gates said Monday he plans to spend most of his $200 billion fortune over the next two decades to improve health and education across Africa.
Speaking at the African Union headquarters in Addis Ababa, the 69-year-old philanthropist said boosting human potential through better healthcare and education could place every African nation on a path to prosperity.
“I believe that if we invest in people, especially in their health and education, then the future of this continent is incredibly bright,” Gates said.
He also encouraged Africa’s young innovators to explore the use of artificial intelligence to enhance healthcare systems.
The announcement follows a blog post Gates published last month, where he committed to giving away 99% of his wealth by 2045. He wrote that when he dies, he hopes people won’t remember him as someone who “died rich.”
Mozambique’s former first lady, Graça Machel, praised the commitment, calling it timely amid what she described as a “moment of crisis” in global aid and development.
Gates’ remarks come as U.S. foreign aid to Africa faces cuts under former President Donald Trump’s administration, sparking concerns about the future of healthcare programs on the continent.
Since its founding in 2000, the Bill and Melinda Gates Foundation has disbursed over $100 billion, with much of that directed toward global health initiatives. Gates said the foundation plans to wind down its operations by 2045.
Despite his pledge, Bloomberg News noted that even after giving away nearly all his wealth, Gates would likely remain a billionaire and among the world’s richest individuals.