Bill Gates speeds up plans to give away his fortune

Bill Gates is speeding up his plans to give away nearly all of his money.

"People will say a lot of things about me when I die, but I am determined that 'he died rich' will not be one of them," the billionaire wrote on Thursday.

The Gates Foundation was originally intended to close twenty years after Mr Gates died, giving away around $200bn (£150bn) in that time.

But now the timeline has been brought forward to 2045.

"There are too many urgent problems to solve for me to hold onto resources that could be used to help people," Mr Gates wrote in a post on his website.

As the US, UK, France and other countries cut aid budgets "by tens of billions of dollars", Mr Gates said it was "unclear whether the world's richest countries will continue to stand up for its poorest people."

The Gates Foundation has three aims: to end preventable deaths of mothers and babies, eradicate deadly infectious diseases and lift millions of people out of poverty.

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In its 25 years, the charity has given away $100bn, according to Mr Gates.

The 69-year-old Microsoft founder is worth an estimated $108bn and created the Gates Foundation with his ex-wife Melinda French Gates to give away 99% of that.

The remaining 1% is thought to be saved for his three children.

"My kids got a great upbringing and education but less than 1% of the total wealth because I decided it wouldn't be a favour to them," he told the Figuring Out With Raj Shamani podcast last month.

Despite the foundation's deep pockets, Mr Gates said progress would not be possible without government support.

He specifically said polio could not be eradicated without US funding, following US President Donald Trump's decision to abolish USAID.

The Gates Foundation has previously faced criticism for its influence over global health because some say it does not have the same level of accountability as government-led organisations.

Mr Gates has also been the subject of conspiracy theories, particularly surrounding the COVID-19 pandemic and vaccines.

"I hope other wealthy people consider how much they can accelerate progress for the world's poorest if they increased the pace and scale of their giving, because it is such a profoundly impactful way to give back to society," he added.