Bill Gates plans to donate 99% of his fortune to Africa

A fortune for Africa

Bill Gates announced this year that by 2045, he would donate 99% of his colossal fortune, estimated at nearly $200 billion in 2025, to the African continent.

A strong commitment

“I recently committed to donate my entire fortune over the next 20 years. The majority of these funds will be dedicated to helping address challenges here in Africa,” he said at a conference in Addis Ababa, according to the French-language pan-African weekly news magazine 'Jeune Afrique'.

Funds donated to his foundation

Most of his assets have already been transferred to the Bill & Melinda Gates Foundation. Their three children have been told they will inherit only a small portion of their father's fortune.

Unlocking human potential

The billionaire philanthropist declared that “by unlocking human potential through health and education, every country in Africa should be on the path to prosperity,” according to a report by BBC News Africa.

Africa and AI

The American businessman strongly believes in the potential of artificial intelligence (AI) to accelerate the continent's development, particularly to improve its health systems.

Better detection of pathologies

Artificial intelligence could indeed be deployed to enable patients to receive faster diagnoses and to optimize treatments, including in rural areas.

Technology is already present

In a message to Africa's business people, the Microsoft founder noted that mobile telephony has revolutionized the banking sector across Africa. In less wealthy countries, technology is indeed a major factor for social inclusion.

Next-generation systems

“Africa has largely bypassed traditional banking services and now, as it works towards its next-generation healthcare systems, it has the opportunity to think about how to integrate AI into them,” the seasoned tech mogul continued.

Three priorities

The Gates Foundation, which is very active in Africa, has set three goals for the continent's development: ending preventable maternal and infant deaths, eradicating deadly infectious diseases in the next generation, and fighting poverty.

Tailor-made solutions

The organization emphasizes the need to implement solutions adapted to the local contexts by relying on existing skills, while new African political leaders denounce Western aid as ineffective and hypocritical.

A 20-year deadline

“After 20 years, the foundation will cease operations,” the American billionaire declared. Thanks to an ambitious investment program, the next two decades should enable a major transformation of African societies.

A difficult reality

Since Donald Trump's return to power, the United States has significantly reduced the amount of development aid given to Africa, including that allocated to HIV treatment, BBC News Africa reports.

The richest foundation in the world

The private aid offered by the Gates family is therefore taking over from public development assistance. Jeune Afrique specifies that, at the end of 2023, “the foundation's endowment stood at $77.6 billion, ranking it the leading private philanthropic provider.”

Controversies

However, the media outlet points out that the Gates Foundation's work on the continent has not always been free of controversy. Particularly due to its desire, under the guise of charity, to promote its companies and its interests.

Failures in the food industry

Courier International also notes that the implementation of the Foundation's recommendations has been accompanied by a decline in agricultural yields compared to traditional techniques. By 2024, 10% of Africa's 1.5 billion people will remain in a situation of severe food insecurity.