Bill Gates drops a shocker, says will close Gates Foundation, announces to give away all his remaining wealth to…
Microsoft co-founder and philanthropist Bill Gates is among the wealthiest individuals in the world. Recently, Bill Gates announced plans to wind down the Gates Foundation over the next 20 years. This decision marks a significant shift in one of the world’s largest philanthropic organizations. Sharing a post on his website, Microsoft co-founder wrote, “I have decided to give my money back to society much faster than I had originally planned. I will give away virtually all my wealth through the Gates Foundation over the next 20 years to the cause of saving and improving lives around the world. And on December 31, 2045, the foundation will close its doors permanently.”
Bill Gates drops a shocker, says will close Gates Foundation, announces to give away all his remaining wealth to…
In 200o, Bill Gates and Melinda French Gates established the Gates Foundation. The new decision marks a shift from the Gates Foundation’s original plan. When Bill and Melinda Gates founded the organization in 2000, they included a clause in its first charter stating that it would sunset several decades after their passing. However, in recent years, Bill Gates began to reconsider that timeline. With input from the foundation’s board, he now believes its goals can be achieved sooner—particularly by intensifying focus on key investments and offering greater certainty to partners.
“During the first 25 years of the Gates Foundation—powered in part by the generosity of Warren Buffett—we gave away more than $100 billion. Over the next two decades, we will double our giving. The exact amount will depend on the markets and inflation, but I expect the foundation will spend more than $200 billion between now and 2045. This figure includes the balance of the endowment and my future contributions,” Gates wrote on his website.
“This decision comes at a moment of reflection for me. In addition to celebrating the foundation’s 25th anniversary, this year also marks several other milestones: It would have been the year my dad, who helped me start the foundation, turned 100; Microsoft is turning 50; and I turn 70 in October. This means that I have officially reached an age when many people are retired. While I respect anyone’s decision to spend their days playing pickleball, that life isn’t quite for me—at least not full time. I’m lucky to wake up every day energized to go to work. And I look forward to filling my days with strategy reviews, meetings with partners, and learning trips for as long as I can,” the post further reads.
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