By Cordy Brown, News Correspondent
Published: May 8, 2025
Gates revealed he has already donated $100 billion (£75 billion) to health and development initiatives and plans to give another $200 billion.
He stated, "When I die, people will say many things about me, but I’m determined that ‘he died rich’ won’t be one of them."
In a blog post, Gates cited an 1889 Andrew Carnegie essay to explain his massive donation, which includes Carnegie’s view: "The man who dies rich dies disgraced."
Gates' renewed vow to give away vast shares of his $113 billion fortune notably speeds up his promised timeline of donations
His original plan had been that his foundation would continue its work for decades after his death.
But the tech pioneer told the BBC's Newshour that more wealthy people would come along in 20 years who can address the challenges of the day.
"It's really about the urgency," he said.
"We can spend a lot more if we're not trying to be perpetual, and I know that the spending will be in line with my values."
Giving away 99% of his wealth would still leave Gates a billionaire.
He was the world's richest person for a number of years, and still ranks among the planet's wealthiest individuals.
"I think 20 years is the right balance between giving as much as we can to make progress on these things and giving people a lot of notice that now this money will be gone," he said.
Gates took a swipe at the world's current richest man Elon Musk, blasting cuts made to the US aid budget by his Department of Government Efficiency (DOGE).
"These cuts will kill not just children, but millions of children," he said.
"You wouldn't have expected the world's richest person to do it."