Microsoft co-founder and one of the world’s wealthiest men, Bill Gates, has unveiled a strategy to give away nearly all of his fortune, valued at $200 billion, within the next 20 years. This decision is a stark departure from his original intention for the Bill & Melinda Gates Foundation, which he and Melinda French Gates founded in 2000. Originally scheduled to continue active for decades after their deaths, the foundation will wind down on December 31, 2045, instead.
Gates announced in a blog post, highlighting his intention to act before he dies. “There are too many pressing problems to be solved for me to continue to hold onto resources that could be used to assist people,” he wrote.
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Responding to global challenges
This unprecedented move is taken when government allocations for global aid, healthcare, and public services are coming down. Gates specifically cited the reduction of U.S. international programs under President Donald Trump’s administration’s policies as an unprecedented threat to global progress.
Speaking at a New York gathering, Gates said he had personally met with Trump to discuss the damage these cuts would cause, especially to vulnerable individuals who live across the globe. In another interview on this matter, he criticized the role of Elon Musk in espousing such policies, accusing him of being responsible for helping to hurt “the world’s poorest children.”
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The foundation’s priorities: Health, poverty, and progress
With more than $100 billion having been donated since its formation, the Gates Foundation is now targeting three fields: stopping preventable maternal and child mortality, eradicating infectious diseases, and lifting millions from poverty.
Foundation President Mark Suzman further added that this is at a time when global health gains are decelerating. He warned that political and economic headwinds are jeopardizing the mission of the foundation, saying, “Much of our amazing progress is at risk.”
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A challenge to fellow billionaires
Gates wants his behavior to be an example for others. He, along with Melinda French Gates and Warren Buffett, launched the Giving Pledge in 2010 as a means of encouraging billionaires to donate the majority of their wealth to philanthropic efforts. Over 240 individuals have signed the pledge so far.
Aging now 69, Gates is doubling down on that pledge. “People are going to say a lot about me when I die, but I am determined to ‘he died rich’ not be one of them,” he wrote.
Eyes on the future with optimism
Gates also mentioned technology as being a major beneficiary in addressing global challenges. In his view, advances in artificial intelligence and well-targeted philanthropy have the potential to significantly accelerate things.
With a current estimated net value of $108 billion and listed as the world’s fifth-richest person, Gates’ projections have that figure decreasing by 99% once the foundation closes its doors in 2045. The funds will be tapped from the foundation’s endowment fund of $77 billion plus additional donations from Gates’ investments, including his joint venture with TerraPower, a nuclear power company.
While Microsoft recently celebrated its 50th anniversary, Gates described how, “It feels right that I celebrate the milestone by committing to give away the resources I earned through the company.”
Melinda’s independent way
Melinda French Gates, who parted with the foundation in 2023 following the divorce of the couple, said she will not be giving away most of her own fortune through the Gates Foundation.
With this historical pledge, Gates is not just reinventing the future of his foundation but also making a very strong declaration regarding how money can—and should—be used.
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