Microsoft co-founder and billionaire philanthropist Bill Gates announced today that the Bill & Melinda Gates Foundation, which he leads, will spend all of its financial resources and wind down its operations within the next 20 years. Gates has pledged to donate 99% of his fortune—currently estimated at $107 billion—to the foundation. It is expected that over the next two decades, the foundation will spend more than $200 billion.
This decision comes during a time of significant personal and professional milestones for Gates. He shared this on his personal blog, Gates Notes, stating:
“This decision comes at a moment of reflection for me. This year marks the 25th anniversary of our foundation, and several other milestones: it would have been the year my father, who helped me start the foundation, would have turned 100; Microsoft is turning 50; and I turn 70 this October.”
The decision marks a significant shift from the foundation's previous plan to close 20 years after Gates’ death. Now, at 69 years old, with good health, Gates has decided to expedite this timeline and close the foundation by 2045.
In its 25 years, the Bill & Melinda Gates Foundation has spent over $100 billion on initiatives focused on health, education, global development, and gender equality, with a strong focus on combating diseases like malaria in low-income countries.
This announcement comes at a time when the Trump administration has made moves to slash foreign aid, with agencies like USAID facing substantial budget cuts. In contrast, Gates Foundation plans to spend around $9 billion annually through 2045.
Gates’ donation is expected to be the second-largest philanthropic gift in U.S. history, adjusted for inflation. The largest is anticipated to come from Warren Buffett, whose net worth is estimated at $160 billion.
This initiative is expected to foster more sustainable and impactful global changes, particularly in health and development sectors.
