AsianFin -- Bill Gates revealed on Thursday that he intends to give away “virtually all” of his wealth—approximately $200 billion, he estimates—over the next two decades.

The announcement comes as US President Donald Trump’s administration pushes to significantly reduce funding for health, foreign aid, and other public assistance programs, which are key areas of focus for the Gates Foundation. This move has sparked concerns about potential delays in critical research and projects.

The billionaire aims to accelerate the foundation’s efforts in advancing global health and equity initiatives, hoping his pledge will inspire other wealthy individuals to follow suit. In a blog post published Thursday morning, Gates emphasized the importance of philanthropy and its role in addressing pressing global challenges.

The announcement builds on Gates’ long-standing commitment to philanthropy. Together with his ex-wife Melinda French Gates and Warren Buffett, he launched the Giving Pledge in 2010, a campaign encouraging billionaires to donate the majority of their fortunes to charitable causes, either during their lifetimes or through their wills. The pledge has since attracted more than 240 signatories.

The Gates Foundation is currently scheduled to close its doors on December 31, 2045, marking the culmination of this ambitious giving plan.