When Bill and Melinda French Gates launched their foundation in 2000, their goal was for it to continue operating for decades after their deaths, supported by their remaining wealth. Now, Bill Gates says he no longer wants to wait that long and plans to give away nearly all his fortune—about $200 billion—within the next two decades. He has announced that the Gates Foundation will officially close on December 31, 2045.
This decision comes at a time when the U.S. government is moving to cut funding for foreign aid, public health, and other assistance programs—areas the Gates Foundation has long supported. Gates hopes to accelerate progress in these fields and inspire other billionaires to follow his lead.
In a recent blog post, Gates said he aims to give away “virtually all” his wealth, driven by a sense of urgency to solve pressing global issues. His goal is to ensure that “he died rich” will never be part of his legacy. Instead, he emphasized that wealth should be used to improve lives, especially when so many critical problems remain unsolved.
Since its inception, the Gates Foundation has donated over $100 billion to global causes such as disease prevention, vaccine development, and health system improvements. Gates has already been increasing his pace of giving, particularly since the pandemic, but this latest move represents a much more aggressive timeline.
The foundation now has three core missions for the next 20 years: ending preventable deaths among mothers and newborns, eradicating deadly infectious diseases, and helping hundreds of millions escape poverty.
Despite ongoing efforts, the foundation has raised concerns about stagnation in global health improvements. In a recent interview, Gates criticized cuts to U.S. international aid and argued that such decisions have harmful effects on the world’s most vulnerable populations. He singled out fellow billionaire Elon Musk, saying that recent government actions tied to his influence have endangered millions of children in low-income countries.
Still, Gates remains hopeful. He believes advancements in artificial intelligence, combined with effective philanthropy, can greatly accelerate human progress.
Currently ranked as the fifth wealthiest person in the world, Gates is worth an estimated $108 billion. He says that by 2045, his net worth will shrink by 99% as he commits the majority of his assets to philanthropy. The $200 billion donation goal will come from a combination of the foundation’s $77 billion endowment and his personal investments, including businesses like TerraPower, his nuclear energy startup.
Melinda French Gates, who left the foundation in 2022 after their divorce, has chosen not to contribute most of her wealth through the foundation. Nonetheless, the organization remains one of the largest charitable entities in the world.
This announcement coincides with Microsoft’s 50th anniversary—a company Gates co-founded. Reflecting on that milestone, he said it felt appropriate to mark the occasion by committing to give back the fortune he earned through the tech giant.
