Bill Gates to Wind Down Foundation by 2045, Slams Elon Musk Over USAID Cuts

In a series of wide-ranging interviews this week, Microsoft co-founder Bill Gates announced he will shutter the Bill & Melinda Gates Foundation on December 31, 2045, and accelerate the distribution of nearly all his personal fortune—roughly $200 billion—into global health, education, and poverty alleviation initiatives over the next two decades. At the same time, Gates publicly rebuked Elon Musk’s involvement in the Trump administration’s USAID funding cuts, accusing the Tesla and SpaceX CEO—who oversees the so-called “Department of Government Efficiency” (DOGE)—of “killing the world’s poorest children” by slashing life-saving aid.

Gates has long pledged to devote 99% of his wealth to philanthropy. But in a blog post on his personal site, he revealed plans to accelerate that pace. Instead of establishing an endowment to operate in perpetuity, the foundation will spend down all remaining assets by 2045, a date chosen to ensure continuity through the lifetimes of current leadership and to avoid institutional drift after the founders’ deaths .

“Over the next twenty years, the Gates Foundation will aim to save and improve as many lives as possible,” Gates wrote. “People will say many things about me when I’m gone, but I’m determined that ‘he died rich’ won’t be one of them.” 

This shift marks a departure from the typical perpetual‐foundation model, reflecting Gates’s belief that timely, front-loaded investments can yield faster impact on critical challenges—eradicating diseases like polio and malaria, reducing maternal and child mortality, and driving sustainable economic development.

In his Financial Times interview, Gates did not spare Musk from criticism. He pointed the finger at Musk’s DOGE for orchestrating extensive layoffs at the U.S. Agency for International Development (USAID)—long the world’s largest single provider of humanitarian assistance.

“The picture of the world’s richest man killing the world’s poorest children is not a pretty one,” Gates told the FT, warning that aid cuts had led to vaccines and food expiring in warehouses and risked reversing decades of progress against measles, HIV, and polio.

Gates noted that more than 80% of USAID programs face elimination and that 5,600 staffers have been let go under Musk’s watch. He cautioned that these deep cuts could cause a spike in preventable deaths over the next five years unless governments restore funding.

Musk took to X (formerly Twitter) to fire back, accusing Gates of misunderstanding the government’s efficiency efforts. Musk claimed Gates’s foundation had a $400 billion war chest and suggested it could pick up the slack—a suggestion Gates promptly refused, arguing that philanthropy cannot substitute for stable government aid.

1. Funding Gap Risks
   USAID’s budget cuts—nearly $44 billion in global programs for FY 2023—have left critical vaccine campaigns and food security initiatives underfunded. Gates warns this funding void will outstrip any gains made by private philanthropy, potentially reversing years of public‐health successes.
2. Philanthropy vs. Public Sector
   While the Gates Foundation’s annual grants are projected to climb to $10 billion by mid-decade, Gates emphasizes that government backing is irreplaceable for large-scale infrastructure, regulatory frameworks, and long-term stability—areas private foundations cannot fully cover.
3. Foundation Wind-Down Implications
   Committing to spend all assets by 2045 sets a clear timeline for major grants and programmatic exits. Partners—from Gavi (the Vaccine Alliance) to the Global Fund—will need to plan transitions carefully to maintain momentum post-founder era.

Gates and Musk were once allies in championing the role of ultra-wealthy individuals in tackling global problems. But their diverging philosophies are on full display:

• Gates argues for coordinated, government-aligned efforts and timely capital deployment.
• Musk advocates lean, tech-driven government reform, even at the expense of traditional aid programs.

This very public rift underscores a broader debate: What is the proper balance between private philanthropy and public responsibility? For developing countries grappling with health crises, the stakes could not be higher.

As the Gates Foundation ramps up grant making over the next 20 years, the organisation will face the dual challenge of scaling impact while winding down operations. Gates is banking on a combination of big bets—like eradicating malaria—and strategic partnerships with governments and multilateral organizations to lock in gains for generations.

Meanwhile, the Musk-Gates sparring over USAID serves as a stark reminder: global health and development will remain contentious battlegrounds where philanthropy, politics, and private interests collide. How this clash shapes funding norms and policy priorities could define the next era of international aid—and the fortunes of millions who depend on it.