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Thursday, May 8, 2025

'Bill Gates Will Close Gates Foundation In 2045 After Donating 99% Of His Fortune'

 Bill Gates on Thursday announced his Gates Foundation would close in 2045, accelerating the philanthropic organization’s plans to shut down by decades, as the Microsoft cofounder said he plans to donate almost all of his remaining fortune.

The Gates Foundation, established in 2000, will “sunset its operations” on Dec. 31, 2045, as the group announced a commitment to spend $200 billion over the next two decades.

In a statement, Gates said he would “give away virtually all my wealth” through the Gates Foundation until its closing date, saying his net worth—estimated by Forbes to be nearly $113 billion—would “drop 99%.”

Gates, 69, and then-wife Melinda Gates, 60, planned to close the Gates Foundation at least 20 years after their deaths, the organization said, though Bill Gates said he “began to rethink that approach” a few years ago and he now believes the foundation’s goals can be achieved “on a shorter timeline” if investments “double down.”

Over the foundation’s remaining 20 years, Gates said he hoped to stop newborn babies, children and mothers from dying of preventable causes, reduce poverty and end diseases like polio, malaria and measles.

The Gates Foundation announced what it called its largest annual budget earlier this year, with $9 billion in spending funds expected by 2026.

“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,” Gates wrote, adding, “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”

$100 billion. That’s how much the Gates Foundation gave away through its first 25 years, Gates said.

https://www.forbes.com/sites/tylerroush/2025/05/08/bill-gates-will-close-gates-foundation-in-2045-after-donating-99-of-his-fortune/

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