In a historic philanthropic move, Bill Gates will donate nearly all of his wealth to the Gates Foundation, setting a 20-year deadline to close the organization and spend $200 billion on global health, education, and development.
Seattle, May 8 — Tech titan and philanthropist Bill Gates, 69, has pledged 99% of his $107 billion fortune to the Bill & Melinda Gates Foundation, which will now shut down by 2045. The foundation is set to spend an additional $200 billion over the next 20 years, marking one of the largest charitable commitments in history.
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“It’s kind of thrilling to have that much to be able to put into these causes,” Gates told the Associated Press, reaffirming his focus on global health, education, and poverty reduction.
Founded in 2000 with then-wife Melinda French Gates, the foundation has so far invested over $100 billion, playing a pivotal role in global vaccination efforts, disease eradication, and nutrition programs. Gates’ latest pledge accelerates the foundation’s wind-down, which was originally tied to his death.
Major Goals Ahead
In the next two decades, the foundation aims to:
- Eradicate polio
- Combat malaria and child malnutrition
- Improve education and healthcare access in developing nations
Despite criticism over the foundation’s influence on public policy, Gates emphasized his right to allocate his wealth to save lives.
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“People can criticize it… but reducing childhood deaths is not a bad thing,” he added.
Leadership Transition
Following their 2021 divorce, Melinda left the board in 2024 to focus on women’s rights via her own venture, Pivotal Ventures. CEO Mark Suzman now leads the foundation alongside a newly formed board of trustees.
The organization will continue to spend roughly $9 billion annually, though leaders acknowledge a sharpened focus is needed as programs are evaluated and streamlined.
Amid global unrest and declining foreign aid, Gates voiced concern:
“Will generosity for global health continue to fall, or can we restore it to where it belongs?”
Even with uncertainties, Gates remains optimistic:
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“It’s tragic if low-cost solutions can’t reach everyone who needs them. Renewed commitment from the world’s wealthiest is essential.”
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Bill Gates, Gates Foundation, philanthropy, global health, Warren Buffett, Melinda French Gates, Microsoft, polio eradication, global development, charity news