Billionaire philanthropist Bill Gates has announced plans to give away nearly all of his $200 billion fortune, declaring that he does not want to be remembered as someone who died rich. In a personal blog post published Thursday on Gates Notes, the Microsoft co-founder revealed that the Bill and Melinda Gates Foundation will officially close by December 31, 2045.
“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. “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”
According to Gates, he intends to donate 99% of his wealth over the next two decades, leaving just 1%—approximately $1.6 billion—for himself and his family. The remaining wealth may ultimately be inherited by his three adult children: Jennifer, Rory, and Phoebe.
Founded in 2000 with his ex-wife, Melinda French Gates, the Gates Foundation has spent over $100 billion on global health, education, and poverty alleviation. Its efforts have funded vaccine development, emergency relief, and major initiatives such as Gavi, the Vaccine Alliance, and the Global Fund—programs credited with saving over 80 million lives.
Gates explained that the decision to sunset the foundation earlier than originally planned was made in consultation with the board. “This is a change from our original plans,” he noted. “We now believe we can achieve the foundation’s goals on a shorter timeline, especially if we double down on key investments and provide more certainty to our partners.”
Among the foundation’s milestones, Gates highlighted its role in eradicating diseases like polio, developing a new vaccine for rotavirus, and dramatically reducing child mortality from diarrhea.
Despite widespread praise, the Gates Foundation has faced criticism over the scale of its influence on global health policy. Responding to such concerns in an interview with the Associated Press, Gates said, “Like any private citizen, I can choose how to spend the money I earn. I think 20 years is the right balance between giving as much as we can and giving people notice that this money will be gone.”
The foundation will continue operating for the next two decades, with Gates reaffirming its mission to bring together governments, nonprofits, and the private sector to tackle the world’s biggest challenges.
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