Bill Gates announced Thursday that he will donate his charity to $200 billion over the next 20 years.

In the blog post Microsoft The co-founder wrote that he was subject to many challenges facing the world, such as child health and climate change, and the advice of the late Andrew Carnegie on wealth hoarding.

"When I die, people will say a lot about me, but I'm sure 'he died' isn't one of them," Gates wrote. "There are too many urgent issues to be solved and I can't keep the resources that can be used to help people."

According to the Bloomberg Billionaire Index, Gates is currently the fifth richest man in the world, with a fortune of $168 billion. The $200 billion commitment assumes that his charitable foundation’s donations will grow through investment.

The Gates Foundation was founded in 2000 by Gates and his ex-wife Melinda French Gates and has given away over $100 billion. He said the foundation will end by the end of 2045 after Bill Gates gave away "almost all" of its wealth.

Gates is one of a handful of billionaires who can openly strengthen their charitable giving as nonprofits and universities cut from federal funding. He said that despite his contributions increased, philanthropists could not cover billions of dollars in foreign aid from the United States and other wealthy countries.

"The United States, Britain, France and the rest of the world are cutting their aid budgets by tens of thousands of dollars. And, no charity (even the size of the Gates Foundation, nor one) can now form the bay of funds that are emerging now," he wrote. "It is unclear whether the world's richest countries will continue to stand up for their poorest people."

In an interview with the Financial Times, Gates criticized Elon Musk for his role in reducing U.S. foreign aid. In February, Musk's so-called Ministry of Government Efficiency effectively shut down the U.S. international development agency. Federal agencies paid $42.5 billion in 2023, according to government data, which provides life-saving assistance, including global health care, clean water and food.

"The world's richest people kill the world's poorest children is not a pretty child," Gates told the Financial Times.

The agency estimated in early March that cuts would have dire consequences, including one million children with severe acute malnutrition untreated and as many as 166,000 deaths from malaria.

Gates, then-wife and Warren Buffett, formed a donation commitment in 2010, the world's wealthiest person donated more than half of his wealth in his lifetime or will. After that, the French gate resigned from the Gates Foundation but had its own charity.

Musk has signed a donation commitment. Gates told the New York Times that he didn't know if Musk would follow.

"The commitment of dedication - you can wait until death and still achieve an unusual aspect of it. So who knows? He can continue to be a great philanthropist."

According to Forbes, Musk's wealth is less than 1%. The publication estimates that his outdoor donations—gifts that have been paid, not just promises or stopped in the foundation—has been $620 million in his lifetime until 2023.