Bill Gates says he'll give away $200 billion—here's where 'the majority of that funding will be spent'

Bill Gates is moving forward with plans to give away $200 billion over the next 20 years, and the billionaire now says the “majority” of that money will go toward improving public health and education services in Africa.

Gates announced on May 8 that he plans to give away nearly all of his personal wealth and shutter his nonprofit Gates Foundation by 2045. On Monday, Gates offered some more specifics: “The majority of that funding will be spent on helping you address challenges here in Africa,” he said in an address at the African Union headquarters in Addis Ababa, Ethiopia.

That spending will be directed toward initiatives that address the three main goals Gates outlined in his May announcement:

Africa particularly needs health and education resources: Nearly half a billion people there live below the poverty line, according to 2021 data from the United Nations. Improving global healthcare and education have long been major focuses of Gates’ philanthropic foundation, which he launched with now-ex-wife Melinda French Gates in 2000.

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