Bill Gates Pledges to Donate Nearly All His Wealth and Wind Down Gates Foundation by 2045
Billionaire philanthropist and Microsoft co-founder Bill Gates has announced a bold plan to give away the majority of his fortune – estimated at $200 billion – within the next two decades. As part of the move, the Bill & Melinda Gates Foundation, one of the world’s largest private charities, will officially close its doors by December 31, 2045.
In a blog post published Thursday, Gates said he no longer wants to wait until after his death to allocate his wealth toward tackling global issues. Instead, he plans to accelerate his philanthropic efforts, particularly in areas like public health, poverty reduction, and disease eradication.
“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,” Gates wrote. “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”
Since its founding in 2000, the Gates Foundation has disbursed more than $100 billion, funding initiatives from vaccine development to maternal health. With this new commitment, the foundation is expected to distribute an additional $200 billion over the next 20 years – an unprecedented level of giving Gates describes as the largest philanthropic commitment in modern history.
The decision also comes amid growing concerns over reduced government spending on health and international aid. Gates cited political headwinds, particularly in the U.S., as one of the driving forces behind the urgency. During a recent interview with the Financial Times, he criticized fellow billionaire Elon Musk for his involvement in efforts to slash aid programs, warning that such actions could severely impact vulnerable populations.
At a high-profile event in New York, attended by philanthropist Mike Bloomberg and musician Jon Batiste, Gates Foundation CEO Mark Suzman noted that global health gains made over the past two decades are now at risk. “We are facing the toughest political and economic headwinds to our agenda since we were established,” he said.
Despite the challenges, Gates expressed optimism, citing technological breakthroughs – particularly in artificial intelligence – as key enablers of faster progress in solving global problems.
The Gates Foundation will now narrow its focus to three core areas: preventing maternal and infant deaths, eradicating deadly infectious diseases, and lifting millions out of poverty. The plan will be funded through a mix of the foundation’s $77 billion endowment and Gates’ personal investments, including earnings from ventures like his nuclear energy firm, TerraPower.
Although Melinda French Gates stepped away from the foundation in 2023 following their 2021 divorce, Gates said he remains committed to advancing the mission they once shared.
The announcement follows Microsoft’s recent 50th anniversary celebration – a milestone Gates says felt like the right time to redirect the wealth he earned through the tech giant.
Currently ranked the fifth richest person in the world by Bloomberg’s Billionaires Index, Gates says his net worth will drop by 99% by the time the foundation concludes its work in 2045.
