New York: In one of the most significant philanthropic announcements in modern history, Microsoft co-founder Bill Gates has pledged to donate 99% of his remaining wealth—valued at over $100 billion—to the Bill & Melinda Gates Foundation, which he revealed will cease operations by December 31, 2045.
The decision marks an accelerated timeline for the foundation’s wind-down, originally intended for two decades after Gates’s death. Now, the foundation is expected to spend an additional $200 billion over the next 20 years, aimed at transforming the global landscape in health, education, and poverty eradication.
“It’s kind of thrilling to have that much to be able to put into these causes,” Gates told the Associated Press.
A Renewed Sense of Urgency
In a recent blog post, Gates elaborated on the change in strategy, writing:
“There are too many urgent problems to solve for me to hold onto resources that could be used to help people. That is why I have decided to give my money back to society much faster than I had originally planned.”
The foundation has already distributed more than $100 billion since its inception in 2000. With the newly announced plan, it will focus on an ambitious agenda over the next two decades, prioritising global health equity, eradicating infectious diseases, reducing maternal and child mortality, and lifting millions out of poverty.
Key Focus Areas for the Final Phase
Gates outlined three core goals for the foundation’s concluding chapter:
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Eliminating preventable deaths among mothers and children.
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Eradicating diseases such as malaria and measles.
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Ending extreme poverty for hundreds of millions.
“The Gates Foundation’s mission remains rooted in the idea that where you are born should not determine your opportunities,” Gates said.
Legacy and Collaborators
The Bill & Melinda Gates Foundation, co-founded with Melinda French Gates in 2000, has become one of the most powerful philanthropic organisations globally, shaping international policies on healthcare, education, and disease prevention.
Since their divorce in 2021, French Gates has launched her own independent philanthropic efforts. Meanwhile, Warren Buffett, the foundation’s largest outside benefactor, has confirmed that his fortune will be distributed through a charitable trust managed by his children.
“Warren, it’s hard to overstate the impact he’s had on me,” Gates acknowledged.
According to reports, 41% of the foundation’s funding has come from Buffett, with the rest drawn from Gates’s Microsoft fortune. The foundation plans to maintain an annual operating budget of $9 billion until 2045.
CEO Mark Suzman stated that the foundation’s final phase will focus on “high-impact investments” and not spreading resources too thinly.
“Are you actually putting your resources… on the biggest, most successful bets rather than scattering it too thinly?” he asked.
Philanthropy in a Time of Global Aid Cuts
Gates’s announcement comes at a time when several wealthy nations, including the US, UK, and France, are scaling back foreign aid budgets. He warned that such cutbacks pose a serious threat to progress in global health and development.
In a blunt criticism, Gates took aim at Elon Musk, accusing him of supporting deep US aid cuts.
“The picture of the world’s richest man killing the world’s poorest children is not a pretty one,” Gates said in an interview with the Financial Times.
Despite these challenges, Gates expressed hope that his initiative would inspire others.
“Somebody should try and save more lives than I did, and give more money than I did,” he said, adding, “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.”
