Bill Gates Commits Majority Of His $200 Billion Gates Foundation Pledge To Africa Amid Trump's Massive USAID Cuts - Microsoft (NASDAQ:MSFT), Tesla (NASDAQ:TSLA)

Tech Billionaire Bill Gates, Chair of the Gates Foundation, has committed to allocating the majority of the foundation’s $200 billion spend over the next two decades to Africa. The announcement was made during his address at the African Union’s Nelson Mandela Hall.

What Happened: In his speech at the African Union’s Nelson Mandela Hall, Gates highlighted the need to seize the moment to advance health and development, even in the face of current challenges. He disclosed that the Gates Foundation’s planned $200 billion investment over the next 20 years will primarily be directed toward partnering with governments that prioritize their citizens’ health and well-being, as stated in a press release on Monday.

“I recently made a commitment that my wealth will be given away over the next 20 years. The majority of that funding will be spent on helping you address challenges here in Africa,” stated Gates.

The co-founder of Microsoft Inc. MSFT also highlighted the potential of artificial intelligence (AI) to transform Africa’s future, especially in the healthcare sector. He praised the continent’s young innovators for embracing AI and its potential to solve critical issues.

He highlighted Rwanda as an early example of AI's potential, noting its use of AI in improving services like using AI-enabled ultrasounds to detect high-risk pregnancies, which could help save lives.

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Why It Matters: This announcement comes on the heels of Gates’ recent commitment to donate 99% of his remaining fortune to the Gates Foundation, which is set to be wound down in 20 years. This move, valued at $107 billion, is one of the most significant philanthropic contributions ever made, surpassing the inflation-adjusted donations of industrialists John D. Rockefeller and Andrew Carnegie.

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However, Gates has also been vocal about the potential consequences of abrupt funding cuts. He criticized Tesla CEO TSLA Elon Musk for his actions, which Gates believes are detrimental to the world’s poorest children.

On multiple occasions, Gates expressed concerns over Musk and President Donald Trump‘s decision to significantly reduce the funding of the U.S. Agency for International Development (USAID), the primary channel for U.S. aid, stating that these abrupt cuts could lead to the expiration of life-saving food and medicines in warehouses, potentially causing a resurgence of diseases like measles, HIV and polio.