Bill Gates Is Giving It All Away: 99% Of His Fortune Pledged, Foundation To Wind Down In 20 Years

Bill Gates announced Thursday that he will donate 99% of his remaining fortune, presently estimated astatine $107 billion, to nan Bill & Melinda Gates Foundation, which will now unopen down successful 2045, earlier than primitively planned.

The promise ranks among nan largest philanthropic commitments successful history, surpassing those of iconic industrialists for illustration John D. Rockefeller and Andrew Carnegie erstwhile adjusted for inflation. Only Warren Buffett’s committedness to springiness distant his estimated $160 cardinal luck whitethorn rival it, depending connected marketplace fluctuations. Gates' donation, delivered complete time, will let nan instauration to walk an further $200 cardinal complete nan adjacent 20 years.

“It’s benignant of thrilling to person that overmuch to beryllium capable to put into these causes,” Gates said successful an question and reply pinch The Associated Press.

Founded successful 2000 by Bill Gates and Melinda French Gates, nan instauration has spent much than $100 cardinal successful 25 years, influencing world wellness policy, advancing technological research, and partnering pinch companies and governments to make aesculapian treatments much accessible to low- and middle-income countries. About 41% of its backing has travel from Buffett, pinch nan remainder from Gates’ Microsoft fortune.

The foundation’s reach—particularly successful world health—has earned it praise for reducing puerility deaths and helping create vaccine distribution networks for illustration Gavi, while besides drafting disapproval for nan immense power a backstage instauration wields connected nationalist health.

“Is that a bad thing? It’s not an important cause? People tin knock it,” Gates said. “But nan instauration will instrumentality to its world wellness work.”

The foundation’s CEO, Mark Suzman, emphasized that while they don’t return in installments for nan astir 50% simplification successful puerility deaths betwixt 2000 and 2020, their contributions were “catalytic.” Looking ahead, nan instauration will prioritize polio eradication, malaria control, and malnutrition reduction. Annual spending will stabilize astatine $9 billion, a flattening aft years of maturation since Buffett began contributing successful 2006.

Previously, nan instauration had planned to run for 2 decades aft Gates’ death. With this shift, Gates said, “I deliberation 20 years is nan correct equilibrium betwixt giving arsenic overmuch arsenic we tin to make advancement connected these things and giving group a batch of announcement that now this money will beryllium gone.”

Gates, now 69, called nan instauration “his 2nd and last career.”

Published on: May 8, 2025 7:50 PM IST