Bill Gates has announced that he plans to give away nearly all of his estimated $200 billion fortune within the next 20 years.
This marks a significant acceleration from earlier plans, which had envisioned the Gates Foundation operating decades after his death.
Instead, the foundation will now wind down its work and officially close by December 31, 2045.
Why is he doing it?
Gates says he feels a deep urgency to act now rather than wait. “There are too many urgent problems to solve for me to hold onto resources that could be used to help people,” he wrote in a blog post.
He aims to tackle pressing global challenges — including preventable deaths, infectious diseases, and poverty — while also setting an example for other billionaires to follow. He emphasized he does not want to be remembered as someone who “died rich.”
The decision is also partly in response to political shifts, such as cuts to U.S. foreign aid and health programs, which threaten the very issues his foundation supports.
Gates hopes that the infusion of private philanthropy can help offset those losses.
This commitment builds on his long-standing philanthropic leadership, including co-founding the Giving Pledge in 2010 with Melinda French Gates and Warren Buffett to encourage the ultra-wealthy to donate most of their fortunes.
Where is the money coming from?
The $200 billion will be drawn from the foundation’s $77 billion endowment and Gates’ personal assets, including earnings from ventures like TerraPower. He expects his net worth to decline by 99% by the time the foundation closes.
