Bill Gates Speeds Up Giving Away Fortune, Blasts Musk

Microsoft co-founder Bill Gates announced plans to significantly accelerate the Gates Foundation's spending, meaning the organization will shut down in 2045. Roslan RAHMAN / AFP/File
Microsoft co-founder Bill Gates announced plans to significantly accelerate the Gates Foundation's spending, meaning the organization will shut down in 2045. Roslan RAHMAN / AFP/File
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Bill Gates Speeds Up Giving Away Fortune, Blasts Musk

Microsoft co-founder Bill Gates announced plans to significantly accelerate the Gates Foundation's spending, meaning the organization will shut down in 2045. Roslan RAHMAN / AFP/File
Microsoft co-founder Bill Gates announced plans to significantly accelerate the Gates Foundation's spending, meaning the organization will shut down in 2045. Roslan RAHMAN / AFP/File

Microsoft co-founder Bill Gates announced Thursday an accelerated timeframe for giving away his fortune as he touted artificial intelligence as a game-changer to boost public health and save lives globally.

Under a new timetable, the Gates Foundation will spend more than $200 billion over the next 20 years, shutting down in 2045. The organization had originally planned to close 20 years after Gates' death.

The announcement came as Gates took aim at another billionaire tech titan, Elon Musk.

The Tesla CEO pushed through draconian cuts to the US Agency for International Development because Musk "didn't go to a party that weekend," Gates told the New York Times in an apparent dig at Musk's lifestyle.

Gates is listed as the 13th on the Forbes "real-time" billionaire list, with a net worth of $112.6 billion. Musk is first with $383.2 billion.

Gates, 69, published a chart showing his net worth plummeting 99 percent over the next 20 years in a blog post announcing the shift, describing a doubling of the pace of giving.

"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," Gates wrote.

The Bill and Melinda Gates Foundation launched in 2000, the same year Bill Gates stepped down as CEO of Microsoft. In 2024, Melinda French Gates exited the foundation three years after the couple's divorce.

The organization, which had more than $71 billion in assets at the end of 2023, has been credited with helping to reshape the world of global public health.

It lists five offices throughout Africa, in addition to locations in the United States, Europe, China, India and the Middle East.

Gates cited progress in health efforts including campaigns to eradicate polio and the creation of a new vaccine for rotavirus that has helped reduce the number of children who die from diarrhea each year by 75 percent.

Separate from the Gates Foundation, the Microsoft founder said he plans to continue to provide funding for initiatives to expand access to affordable energy and for breakthrough research into Alzheimer’s disease.

Not a 'forever' foundation

In the blog post, Gates credited the writings of 19th-century US steel magnate Andrew Carnegie, whose foundation is still around.

But Gates told the New York Times he had no designs on creating a "forever" foundation out of "some weird legacy thing," preferring to pump out billions more to take advantage of emerging technologies.

"The tools are so phenomenal," he said of the potential for AI in global health.

"All the intelligence will be in the AI, and so you will have a personal doctor that's as good as somebody who has a full-time dedicated doctor -- that’s actually better than even what rich countries have," Gates told the New York Times.

While private foundations can do a lot, Gates described the government role as essential, ruing deep budget cuts by the United States, Britain, France and other countries.

"It's unclear whether the world’s richest countries will continue to stand up for its poorest people. But the one thing we can guarantee is that, in all of our work, the Gates Foundation will support efforts to help people and countries pull themselves out of poverty," he wrote.

The moves have included the assault on USAID by Musk's "Department of Government Efficiency" in Donald Trump's presidential administration.

Gates called the cuts "stunning," far more severe than expected.

Musk is "the one who cut the USAID budget," Gates told the New York Times. "He put it in the wood chipper."

In an interview with the Financial Times, Gates ridiculed Musk's apparent confusion of Gaza Province in Mozambique with Gaza in the Middle East as the Trump administration targeted programs.

"The picture of the world's richest man killing the world's poorest children is not a pretty one," Gates said of Musk in an interview with the Financial Times.



After Spain’s Blackout, Questions About Renewable Energy Are Back 

People wait outside a closed metro station, during a blackout in Barcelona, Spain, Monday, April 28, 2025. (AP)
People wait outside a closed metro station, during a blackout in Barcelona, Spain, Monday, April 28, 2025. (AP)
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After Spain’s Blackout, Questions About Renewable Energy Are Back 

People wait outside a closed metro station, during a blackout in Barcelona, Spain, Monday, April 28, 2025. (AP)
People wait outside a closed metro station, during a blackout in Barcelona, Spain, Monday, April 28, 2025. (AP)

The massive power outage that hit the Iberian peninsula on April 28 has reignited a debate in Spain over the country's plan to phase out its nuclear reactors as it generates more power with renewable energy.

As people wait for answers about what caused the historic power cut, which abruptly disrupted tens of millions of lives, some are questioning the wisdom of decommissioning nuclear reactors that provide a stable, if controversial, form of energy compared to renewables, whose output can be intermittent.

Spanish Prime Minister Pedro Sánchez has rejected such criticism, asking for patience while the government investigates what caused the grid's disconnection. He said that his government would not "deviate a single millimeter" from its energy transition plans.

Here’s what to know about the energy debate:

What is nuclear power and why is it controversial? Nuclear power is a zero-carbon energy source formed from nuclear fission, when the nuclei of atoms are split into two or several parts, releasing energy.

It accounts for about 10% of electricity generation worldwide, according to the International Energy Association.

Many countries consider nuclear power critical to reaching their net-zero goals. But while nuclear reactors do not emit planet-warming greenhouse gases like gas- or coal-fired power plants, they produce radioactive waste that even advanced economies have struggled to dispose.

Why does Spain want to decommission its nuclear reactors? Spain generated nearly 57% of its electricity in 2024 from renewable energy sources like wind, hydropower and solar, according to Red Eléctrica, the country’s grid operator. About 20% came from nuclear power plants.

In 2019, Sánchez’s government approved a plan to decommission the country’s remaining nuclear reactors between 2027 and 2035 as it expands its share of renewable energy even further. The country aims to generate 81% of its electricity by 2030 from renewable sources.

Sánchez on Wednesday said that the four nuclear facilities that were online the day of the blackout did not help re-power the grid.

Batteries and other methods help regulate changes in electricity supply from wind and solar.

Why is Spain's renewables push being questioned now? While the cause of the sudden outage on April 28 is still unknown, the event has raised questions about the technical challenges facing electricity grids running on high levels of solar and wind.

Solar and wind provided roughly 70% of the electricity on the grid moments before Spain lost 15 gigawatts of electricity — about 60% of its supply — in just five seconds.

Electricity grids were designed for a different era, according to Gilles Thonet, deputy secretary general of the International Electrotechnical Commission, an industry group.

"Traditionally, power flowed in one direction: from large coal, gas or nuclear plants to homes and businesses," Thonet said. "These plants provided not only electricity, but also stability. Their spinning turbines acted like shock absorbers, smoothing out fluctuations in supply and demand."

In the days following the blackout, Google searches in Spain for "nuclear" spiked, according to data from Google Trends.

Spain’s nuclear lobby group Foro Nuclear said this week that the government should rethink its plan to decommission its nuclear reactors after the outage. Ignacio Araluce, its president, said the nuclear plants online before the outage "provide firmness and stability."

Would more nuclear power have prevented a blackout? Others say it is too soon to draw conclusions about what role nuclear energy should play.

"We do not know the cause of the oscillations," said Pedro Fresco, director general of Avaesen, an association of renewable energy and clean technology firms in Valencia. "Therefore, we do not know what would have allowed them to be controlled."

Spain’s grid operator last week narrowed down the source of the outage to two separate incidents in which substations in southwestern Spain failed.

Environment Minister Sara Aagesen said earlier this week that the grid had initially withstood another power generation outage in southern Spain 19 seconds before the blackout.

Sánchez in his speech to Parliament said there was "no empirical evidence" to show that more nuclear power on the grid could have prevented a blackout or allowed the country to get back online faster. In fact, the four nuclear facilities online on April 28 before the blackout were taken offline after the outage as part of emergency protocol to avoid overheating.

He said that nuclear energy "has not been shown to be an effective solution in situations like what we experienced on April 28," and called the debate surrounding his government's nuclear phase-out plan "a gigantic manipulation."

Gas and hydropower, as well as electricity transfers from Morocco and France, were used to get the country's grid back online.

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