Tech billionaire and philanthropist Bill Gates has announced plans to wind down the Bill & Melinda Gates Foundation by the end of 2045, marking a significant shift in the operations of one of the world’s largest charitable organizations.
Gates, 69, made the announcement on Thursday, stating that the foundation will sunset its activities over the next two decades with a projected spend of $200 billion.
The Microsoft co-founder said he intends to donate nearly all of his $113 billion fortune through the foundation before its closure.
“In the years ahead, I will give away virtually all my wealth,” Gates said in a statement, adding that the decision will result in his net worth “dropping by 99%.”
The move accelerates previous plans to gradually scale down the foundation’s operations, originally projected to extend well beyond 2050.
Founded in 2000, the Gates Foundation has spearheaded major global health and development initiatives, investing billions into combating infectious diseases, improving education, and promoting technological access in low-income communities worldwide.
With the new timeline, the foundation aims to intensify its philanthropic efforts, focusing its final years on tackling pressing global challenges with renewed urgency.
Gates, who has long championed the idea of “giving while living,” reiterated his commitment to philanthropy, saying: “It’s the right time to ensure the foundation’s legacy is cemented by impact rather than longevity.”
More details to follow……