Billionaire philanthropist and Microsoft co-founder, Bill Gates, has announced plans to donate 99% of his estimated $200 billion fortune, leaving just 1% for himself and his family, as he sets a definitive timeline to close the Bill & Melinda Gates Foundation by December 31, 2045.
In a personal blog post published on Gates Notes on Thursday, Gates declared a dramatic acceleration of his philanthropic efforts, stating that he no longer wishes to be remembered for dying wealthy.
“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.”
Founded in 2000 with his then-wife, Melinda French Gates, the Gates Foundation has since grown into one of the most influential charitable organizations in the world. It has spent over $100 billion on initiatives related to global health, education, and poverty alleviation, playing pivotal roles in vaccine development, emergency aid, and disease eradication campaigns such as polio.
Initially, the foundation was expected to sunset decades after the deaths of its founders, but Gates revealed a shift in that timeline after consultations with the board.
“I now believe we can achieve the foundation’s goals on a shorter timeline, especially if we double down on key investments,” he stated.
He added that his new goal is to give back to society much faster, committing to donate the bulk of his wealth over the next 20 years. According to a chart shared on his blog, the remaining 1%—about $1.6 billion—may go to his children: Phoebe, Rory, and Jennifer.
Highlighting the foundation’s achievements, Gates noted its contribution to the creation of Gavi, the Vaccine Alliance, and the Global Fund, which have collectively helped save over 80 million lives. He also emphasized the organization’s role in advancing a rotavirus vaccine, which has significantly reduced child mortality due to diarrhea.
Despite occasional criticisms about his influence in global health policy, Gates maintained in an interview with the Associated Press that, like any private citizen, he is entitled to choose how to use his resources.
“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.
The Bill & Melinda Gates Foundation will continue its operations until 2045, with a renewed focus on delivering high-impact results within a defined window.
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