Bill Gates Donates 99% of Fortune to Foundation, Close by 2045/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ Bill Gates has pledged to donate 99% of his remaining $107 billion fortune to the Gates Foundation, which will now close in 2045. The move will allow the organization to spend an additional $200 billion over the next 20 years. The donation ranks among the largest in philanthropic history and aims to maximize impact in global health, education, and development.
Bill Gates Philanthropy Quick Looks
- Historic Pledge: Gates will donate 99% of his fortune—currently $107B.
- Foundation’s End Date: Gates Foundation to wind down operations by 2045.
- Projected Spending: Additional $200 billion over 20 years.
- Focus Areas: Global health, education, vaccine access, poverty, and disease.
- Strategic Timing: Giving now ensures effectiveness and accountability.
- Warren Buffett’s Role: Contributed over 40% of Gates Foundation funds.
- Melinda French Gates Exit: Left the foundation in 2024 to focus on women’s rights.
- Leadership Transition: Wall Street veteran Frank Bisignano sworn in as SSA head.
- Planned Legacy: Gates wants disease eradication to define the foundation’s legacy.
- Critics React: Ongoing concerns over billionaire influence in global health policy.
Deep Look: Bill Gates Commits $107 Billion to Foundation, Will Wind Down Operations by 2045
Bill Gates has announced a massive philanthropic milestone: the donation of 99% of his remaining fortune—valued at approximately $107 billion—to the Bill & Melinda Gates Foundation, which will now shut down by 2045. The pledge, one of the largest in modern history, will enable the foundation to spend an additional $200 billion over the next two decades.
“It’s kind of thrilling to have that much to be able to put into these causes,” Gates said in an interview with the Associated Press.
The move not only accelerates the timeline for the foundation’s closure but also reinforces Gates’ belief that wealth should be used to tackle humanity’s most urgent challenges while he is still alive.
Gates’ Final Career and His Legacy Plan
Gates called philanthropy his “second and final career.” The foundation has spent $100 billion since 2000, significantly impacting areas like global health, malaria prevention, education reform, and pandemic preparedness.
By ending the foundation’s operations in 2045, Gates says the move ensures that his intentions are honored and allows future philanthropists to step up in the decades to come.
“I think 20 years is the right balance between giving as much as we can and giving people notice,” he said.
A Unique Model in Global Philanthropy
Founded by Bill and Melinda French Gates, the foundation has become one of the most powerful actors in global development. It has:
- Helped cut global childhood mortality nearly in half.
- Funded vaccine distribution through Gavi, the alliance it co-created.
- Driven down costs of medical treatments for low-income countries.
The foundation has often operated in partnership with national governments, NGOs, and corporations, creating a unique hybrid model of philanthropy that is both admired and critiqued.
Warren Buffett’s Role and the Philanthropic Arms Race
“Warren, it’s hard to overstate the impact he’s had on me,” Gates said.
He also expressed hope that his pledge would spark others to do more:
“Somebody should try and save more lives than I did, and give more money than I did.”
The Gates Foundation’s closure plan contrasts with many foundations that operate in perpetuity, often diluting their founders’ goals over time. Gates said long-term foundations can drift from their mission:
“Who knows how their work relates to the intent of the person who started that foundation?”
A More Focused Final Phase
CEO Mark Suzman said the foundation will now focus more narrowly on its highest-impact goals, including:
- Eradicating polio
- Controlling malaria and HIV
- Tackling global malnutrition
Annual budgets will plateau at around $9 billion, and some internal programs may be phased out. Suzman admitted the transition may create internal uncertainty but said it offers an opportunity to maximize impact.
Leadership and Exit of Melinda French Gates
Following their divorce in 2021, Melinda French Gates stepped down from the foundation in 2024 to focus on her own nonprofit, Pivotal Ventures, and address women’s rights rollbacks in the U.S.
“I can’t say enough good things about how she got us off on the right track,” Gates said.
The foundation now operates under a newly appointed board, signaling a new era of governance as it begins its final chapter.
Global Challenges and Uncertain Giving Climate
Even with the additional $200 billion in funding, Gates warned of looming headwinds:
- Cuts to global aid budgets due to war and economic downturns.
- Decreased donor generosity as aging populations shift spending priorities.
- Geopolitical instability, particularly in Ukraine and Gaza, hampering delivery.
“We’re going to have to renew people’s commitment to help those who are in the greatest need,” he said.
Still, Gates expressed optimism about low-cost medical innovations, such as mosquito-killing tools and HIV prevention options for women, that the foundation has backed.
“It’s incredible to come up with these tools—and tragic if we can’t get them to everyone.”
Defending His Influence
Critics argue that one individual—no matter how wealthy—should not wield such disproportionate influence in public health. Gates pushed back:
“People can criticize it… but are they saying saving children’s lives isn’t a good cause?”
He also invited more scrutiny, saying,
“Where are the people second-guessing our work? We want more.”
As the foundation enters its final 20 years, Gates hopes it leaves behind a legacy of measurable progress—and paves the way for the next generation of philanthropists to dream even bigger.
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