• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

2

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

3

Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45

1

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

2

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

3

Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45
PoliticsBill Gates

Bill Gates warns of millions of deaths if Trump and Musk don’t reinstate axed foreign aid funding

Eleanor Pringle
By
Eleanor Pringle
Eleanor Pringle
Senior Reporter, Economics and Markets
Down Arrow Button Icon
Eleanor Pringle
By
Eleanor Pringle
Eleanor Pringle
Senior Reporter, Economics and Markets
Down Arrow Button Icon
February 18, 2025, 10:49 AM ET
Philanthropist and former Microsoft CEO Bill Gates
Bill Gates is worried that "millions" of lives are on the line if U.S. foreign aid funding isn't reinstated.Sean Gallup - Getty Images
  • Bill Gates says if U.S. foreign aid spending doesn’t get back on track soon, millions of lives are at risk. He added it could also present an economic problem as aid presents a gateway for diplomatic and economic conversations with foreign nations.

While the end result of Elon Musk’s cost-cutting crusade through government remains to be seen, Microsoft cofounder Bill Gates has warned millions of people could suffer in the meantime.

The philanthropist warned that if aid funding out of the world’s largest economy continues to dwindle, millions of lives will be on the line, and he hopes that some of the Department of Government Efficiency’s (DOGE) measures will be rolled back.

Speaking to PBS in an interview released yesterday, Gates was asked about the 180-degree turnaround between action being taken by the White House and a conversation the billionaire tech titan previously had with Trump.

Earlier this month, Gates said that President Trump seemed open to hearing his thoughts on continued foreign aid.

But with Musk and President Trump halting USAID’s work—be it placing staff on leave, freezing spending, or reducing its headcount to a mere 300 workers from thousands—that conversation seems to have been forgotten.

“I’m hopeful that some significant portion of that can be reversed and preserved,” Gates said. “Elon, of all the elimination he’s done, 99% of it is these employees at the USAID who work overseas in very tough circumstances and they allow the U.S., in addition to our military power, get out there and help out with famine and HIV medicines.”

Gates also spoke specifically about PEPFAR—the President’s Emergency Plan for AIDS Relief—which so far has saved more than 26 million lives through HIV and AIDS prevention courtesy of $110 billion in funding since its inception more than 20 years ago.

“I know a lot of those workers, I know that work,” Gates continued. “A very, very high percentage of it is stuff every taxpayer would be proud of.

“Elon I think said ‘Yeah, we made a mistake, we went overboard,’ but … what is the equilibrium? How many of those people can be kept so we can continue to save tens of millions of lives?”

Gates’s anecdote is partially correct. Musk has indeed admitted he has, and will, make mistakes during his work at DOGE.

This was in response to a question from a journalist last week, who asked if a $50 million aid payment toward condoms in Gaza had been blocked for the wrong reason.

The reporter pointed out that the payment, which would have purchased around a billion condoms, is likely to have been intended for HIV prevention in the Gaza region of Mozambique, and not the war-torn region currently controlled by Hamas.

Such slip-ups could prove costly, warned Gates, who was asked how many lives are at risk if funding for these sorts of health organizations are not reinstated.

“It’s definitely in the millions,” Gates responded. “PEPFAR has kept over 20 million alive with HIV drugs, started by President Bush and continued on a bipartisan basis literally up to the day Elon decided it wasn’t a good organization.”

DOGE and the White House did not respond to Fortune‘s request for comment.

“Keeping people alive from HIV, the U.S. has done a great job, and even if we have to reduce that sum, an abrupt withdrawal is a terrible thing,” Gates added.

Motivation for foreign aid

When the White House announced its 90-day pause on foreign aid, it pointed out that the U.S. government spends some $40 billion a year on such funding.

However, this is a fraction of the administration’s spending—it has spent $2.44 trillion since October.

Therefore, the yearly spending on foreign aid represents 1.6% of the government’s spending in less than five months.

Gates, worth $168 billion per the Bloomberg Billionaire Index, pointed out that as well as the obvious moral and ethical benefits of supporting humanitarian crises, there is also an economic benefit.

“There is the uplifting element that if these countries can get out of the poverty trap, then they participate in doing business with the U.S., they have gratitude to the U.S., so even beyond the moral reason—maintaining stability, reducing illegal immigration—we have something in common that we can help these countries,” Gates explained.

“There’s a little bit of a ‘do they favor China over us’ but because of PEPFAR they’ve been very much positive to the United States,” Gates added.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
Eleanor Pringle
By Eleanor PringleSenior Reporter, Economics and Markets
LinkedIn icon

Eleanor Pringle is an award-winning senior reporter at Fortune covering news, the economy, and personal finance. Eleanor previously worked as a business correspondent and news editor in regional news in the U.K. She completed her journalism training with the Press Association after earning a degree from the University of East Anglia.

See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

defense
PoliticsDefense
Trump says Europe freeloads on defense. Britain’s own (former) Defense Secretary just agreed
By Jill Lawless, Danica Kirka and The Associated PressJune 11, 2026
3 hours ago
carney
North AmericaSocial Media
Canada joins global movement to ban social media for kids: ‘We are failing our children. Enough is enough’
By Rob Gillies and The Associated PressJune 11, 2026
15 hours ago
gianni
North AmericaWorld Cup
Mexico City roasts new chandeliers slapped onto its metro for World Cup
By Megan Janetsky and The Associated PressJune 11, 2026
15 hours ago
T-minus 24 hours: On the eve of SpaceX IPO liftoff some Wall Street analysts say the stock is worth only half of Elon Musk’s price
EconomyMarkets
T-minus 24 hours: On the eve of SpaceX IPO liftoff some Wall Street analysts say the stock is worth only half of Elon Musk’s price
By Jim EdwardsJune 11, 2026
18 hours ago
bessent
CommentarySocial Security
Social Security and Medicare are heading toward insolvency. Congress has 6 years to act
By Steve H. Hanke and David M. WalkerJune 11, 2026
19 hours ago
Digital sovereignty isn’t the same thing as digital isolation. Asia’s governments should be careful
Commentarydata sovereignty
Digital sovereignty isn’t the same thing as digital isolation. Asia’s governments should be careful
By Leonard LimJune 10, 2026
1 day ago

Most Popular

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
Energy
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
By Sasha RogelbergJune 10, 2026
1 day ago
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
Environment
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
By Catherina GioinoJune 9, 2026
3 days ago
Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45
Innovation
Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45
By Amanda GerutJune 9, 2026
2 days ago
Current price of oil as of June 11, 2026
Personal Finance
Current price of oil as of June 11, 2026
By Joseph HostetlerJune 11, 2026
16 hours ago
Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
Asia
Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
By Kate O'Keeffe and BloombergJune 8, 2026
3 days ago
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Success
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
By Preston ForeJune 8, 2026
4 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.