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Bill Gates To Give Away 99% Of His Fortune

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Billionaire philanthropist Bill Gates has disclosed intentions to give away nearly all of his $200 billion wealth, leaving only one per cent for himself, as he shuts down the Bill and Melinda Gates Foundation.

The Microsoft co-founder stated on Thursday in a post on his personal blog, Gates Notes, that the foundation, which is considered to be among the most significant charitable organisations globally, will close its doors by December 31, 2045.

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“People will say a lot of things about me when I die, but I am determined that “he died rich” will not be one of them.

“There are too many urgent problems to solve for me to hold onto resources that could be used to help people,” he said.

READ ALSO:In 10 Years, AI Will Replace Many Doctors, Teachers – Bill Gates

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He added, “That is why I have decided to give my money back to society much faster than I had originally planned. I will give away virtually all my wealth through the Gates Foundation over the next 20 years to the cause of saving and improving lives around the world. And on December 31, 2045, the foundation will close its doors permanently.”

In a chart shared in the blog post, Gates revealed that he plans to give away 99 per cent of his wealth by 2045, leaving just one per cent, or about $1.6 billion, for himself and his family.

Founded in 2000 with his now ex-wife, Melinda French Gates, the foundation has spent over $100 billion on global health, education, and poverty alleviation, helping to fund vaccine development, medical research, and emergency aid around the world.

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He also notes a shift from the original plan.

“This is a change from our original plans. When Melinda and I started the Gates Foundation in 2000, we included a clause in the foundation’s very first charter: The organisation would sunset several decades after our deaths. A few years ago, I began to rethink that approach.

READ ALSO: Bill Gates Reflects On Divorce From Melinda, Regrets Act

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“More recently, with the input from our board, I now believe we can achieve the foundation’s goals on a shorter timeline, especially if we double down on key investments and provide more certainty to our partners,” he stated.

Daily Mail reports that the remaining one per cent of his fortune may ultimately go to his three adult children: Phoebe, Rory and Jennifer.

Outlining the foundation’s achievements, he said, “I am deeply proud of what we have accomplished in our first 25 years.

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“We were central to the creation of Gavi and the Global Fund, both of which transformed the way the world procures and delivers lifesaving tools like vaccines and anti-retrovirals.

“Together, these two groups have saved more than 80 million lives so far. Along with Rotary International, we have been a key partner in reviving the effort to eradicate polio.

READ ALSO: In 10 Years, AI Will Replace Many Doctors, Teachers – Bill Gates

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“We supported the creation of a new vaccine for rotavirus that has helped reduce the number of children who die from diarrhea each year by 75 percent. Every step of the way, we brought together other foundations, non-profits, governments, multilateral agencies, and the private sector as partners to solve big problems—as we will continue to do for the next twenty years.”

Despite decades of impact, the Gates Foundation has drawn criticism from some who say Gates holds too much sway over global health funding decisions.

But, in an interview with the Associated Press on Thursday, he remains unapologetic, saying, like any private citizen, he can choose how to spend the money he earns

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“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.

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NYSC Pays Arrears After Two-month Break

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The National Youth Service Corps resumed payments for arrears on Wednesday, marking the first disbursement since the last payment on June 3, following a two-month break.

This payment relates to the new N77,000 monthly allowance recently approved by the Federal Government.

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Recall that on April 5th, the Director-General of NYSC, Brigadier General Olakunle Nafiu, assured that corps members who recently completed their service will receive the new N77,000 monthly allowance approved by the Federal Government.

Speaking during the Batch A 2025 Pre-Mobilisation Workshop in Abuja, Nafiu said, “Once funds are released to us to offset the arrears, we will pay them. Even our corps members who passed out recently will benefit. We have their bank details.”

READ ALSO:Release Corps Member’s Discharge Certificate, Falana Tells NYSC

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He emphasised the government’s commitment, adding, “Nigerians should not fret about that because the government is both responsible and responsive to their needs.”

This development was confirmed by PUNCH, by a previously serving corps member who chose to remain anonymous, who said, “After waiting for two months, I didn’t expect to see another payment alert. But honestly, it’s not just about the money; it’s about feeling like our efforts actually count.

The payment of arrears, covering the period from July 2024 to March 2025, follows widespread frustration over delayed implementation after the Federal Government approved the allowance increase as part of its commitment to easing economic hardship for Nigerian youth.

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FCTA Withdraws Park Licences, Directs Fresh Screening Of Operators

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The Federal Capital Territory Administration has withdrawn all park licences in Abuja, directing operators to resubmit their documents for a fresh screening exercise, with a possibility of reallocation.

The Director, Department of Development Control, Murktar Galadima, disclosed this in an interview with newsmen on Wednesday, while explaining the reasons for the demolition of Boulevard Park, Maitama, Abuja.

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The FCTA carried out the demolition of Boulevard Park in Maitama on Tuesday, over violations of park policies and distortion of the Abuja Master Plan.

Assistant Director, Department of Development Control, and Sector Head for Maitama and Wuse, Sherif Razak, explained during the exercise that the park, originally designated for recreational purposes, had been overbuilt and misused.

READ ALSO:FCTA Local Contractors Protest Non-payment Of N5.2bn Bills

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He said the park had been converted to worship centres, revival grounds, and restaurants, operating under unhygienic conditions.

Galadima explained that the decision to withdraw park licenses followed a memo jointly submitted by the Directors of Parks and Recreation and Lands to the Minister of the FCT, highlighting several inadequacies and violations associated with parks management in the FCT.

He said the new directive offers park operators the opportunity to resubmit their documents to the Department of Parks and Recreation for review.

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If they meet the terms and conditions, they can be reallocated. Owners of parks should respond to the call, submit their documents, and if they meet the requirements, they will return to their parks,” he said.

READ ALSO:FCT Police Arrest Three Wanted Kidnappers

The Director stressed that the decision was not taken to deliberately witch-hunt park operators, but is part of efforts to restore order and compliance with existing policies.

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There’s nothing like witch-hunting. All park allocations have been withdrawn following a series of violations, and the Minister is at liberty to do whatever he wants to do with land in the FCT, parks inclusive,” he stated.

On the recent demolition of Boulevard Park, Galadima clarified that operators were duly notified before enforcement, pointing out that the park had long violated its terms of allocation, operating in direct contravention of recreational policy.

READ ALSO:JUST IN: FCTA To Take Possession Of 4,794 Properties Revoked Over Non-payment Of Ground Rent

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Boulevard Park was allocated for recreational purposes, but the activities taking place there are a total violation of the park policy in terms of operation. Boulevard has violated all the terms and conditions,” he said.

He noted that monitoring park operations was the primary responsibility of the Department of Parks and Recreation, adding that parks were expected to submit concept designs for approval before operations commenced. However, lapses in monitoring had led to widespread abuse.

The FCT is a creation of law, and lawlessness will not be tolerated. The development of the city is guided by law, and every operator must comply with the terms and conditions of their allocation,” Galadima said.

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He stated that a ministerial committee had been set up to review all allocations and uses of parks, to ensure they were serving their original recreational purpose.

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Tinubu Names New VCs For Education Varsities In Zaria, Kano

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President Bola Tinubu on Wednesday named Prof. Yahaya Bunkure as the new Vice Chancellor of the Federal University of Education, Zaria, Kaduna State.

The President’s Special Adviser on Information and Strategy, Bayo Onanuga, disclosed this in a statement he signed on Wednesday titled ‘President Tinubu appoints Nakore, Kodage into governing council of Federal University of Education Kano, Bunkure, names VC Federal University of Education Zaria.’

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Bunkure is a renowned academic specialising in science education.

He is currently the Vice Chancellor of Saadatu Rimi University of Education in Kano.

READ ALSO:Ex-Tinubu Campaign Coordinator Resigns From APC

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Tinubu also appointed Abdurrazaq Nakore, an engineer, as Pro-Chancellor and Chairman of the Governing Council of Yusuf Maitama Sule Federal University of Education, Kano.

He named Prof. Abdullahi Kodage as Vice Chancellor of the university.

Nakore, a Fellow of the Nigerian Society of Engineers, was Executive Secretary of the Rural Electricity Board in Jigawa State.

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READ ALSO:Why I’d Choose Tinubu Over Obi – Adeyanju

The Federal University of Education, Zaria, and the Yusuf Maitama Sule Federal University of Education, Kano, were among the four Colleges of Education upgraded into full-fledged universities between 2022 and 2023.

In accordance with the institution’s governing laws, the pro-chancellor will serve a term of four years, while the Vice-Chancellors will serve for five years,” the statement added.

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