In a bold and emotional statement, Microsoft co-founder Bill Gates has reaffirmed his long-standing promise to donate the vast majority of his wealth—now approaching $200 billion—while strongly criticizing Elon Musk for what he described as a “harmful legacy” of undercutting global aid and philanthropy.

 A Historic Pledge of Wealth

Gates, 69, stated during a keynote at the Global Philanthropy Forum that he would donate “more than 95%, and likely closer to 99%” of his net worth through the Bill & Melinda Gates Foundation and affiliated initiatives. This move, he said, is aimed at eradicating extreme poverty, expanding access to clean water, and accelerating global health equity.

“Wealth should be a tool for solving the world’s biggest problems,” Gates said. “If I die with billions still in my name, I’ll have failed.”

His foundation, already one of the world’s largest, has committed over $75 billion since its creation and plans to increase its annual disbursements significantly through 2045, when Gates says the organization will wind down.

 Gates Slams Elon Musk

While discussing his motivations, Gates took direct aim at Elon Musk, criticizing the Tesla and SpaceX CEO for “mocking philanthropy” and lobbying against U.S. foreign aid spending. He accused Musk of contributing to what he called a “collapse in moral leadership among billionaires.”

“Musk has spent more energy trolling people online than saving lives. That’s not innovation—it’s irresponsibility,” Gates said to a stunned audience.

Gates cited reports that Musk’s political influence, especially on social media, has undermined U.S. support for humanitarian programs. “Words have consequences,” Gates warned. “When you devalue compassion, people suffer.”

 A Call for a New Era of Giving

The speech drew praise from health advocates and economists alike. Many see Gates’ decision as a challenge to other billionaires who have yet to make significant philanthropic contributions.

“He’s putting pressure on the ultra-wealthy to ask themselves a tough question,” said Dr. Lena Hadley, an expert in global development. “What is your money doing for the world?”

 What Comes Next?

Though the Gates Foundation is set to gradually shut down by 2045, its legacy may echo for generations. Meanwhile, tensions between Gates and Musk show no signs of cooling, especially as they represent two vastly different visions of wealth, responsibility, and legacy.

Gates ended his speech with a quiet challenge to his fellow billionaires:

“You can’t take it with you. So why not use it now—while people still need it?”