Jun 2, 2025 - Business

Gates pledges most of his wealth to health and education services in Africa

Rebecca Falconer

Bill Gates at The 11th Breakthrough Prize Ceremony held at Barker Hanger on April 05, 2025 in Santa Monica, California. — Bill Gates in Santa Monica, California, in April. Photo: Gilbert Flores/Variety via Getty Images

Bill Gates will spend most of his wealth on improving health and education services in Africa over the next 20 years, the billionaire Microsoft co-founder pledged Monday.

The big picture: He announced last month plans to spend more than $200 billion through the Gates Foundation that he established with ex-wife, Melinda French Gates, 25 years ago. Once "virtually all" of the fortune of the former world's richest man is gone, he said the Seattle-based philanthropic organization would close on Dec. 31, 2045.

Driving the news: Gates said during an address at the African Union (AU) headquarters in Ethiopia's capital, Addis Ababa, he wanted to use the vast majority of the money to help "address challenges" in Africa.

"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," the 69-year-old said.

Go deeper: Bill Gates accuses Elon Musk of killing children with DOGE

Add Axios on Google

Gates pledges most of his wealth to health and education services in Africa

What to read next