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3d ago

Bill Gates Pledges $107 Billion to Gates Foundation, Closing by 2045

The foundation will spend $200 billion over the next 20 years, focusing on global health and poverty before winding down operations.

Microsoft co-founder Bill Gates during a meeting with Indonesian President Prabowo Subianto at Merdeka Palace in Jakarta, Indonesia, Wednesday, May 7, 2025.
FILE- Bill Gates speaks during the Clinton Global Initiative on Sept. 24, 2024, in New York. (AP Photo/Andres Kudacki, File)
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FILE - Bill Gates, left, Melinda Gates and Warren Buffett speak during a press conference, June 26, 2006 in New York. (AP Photo/Seth Wenig, File)

Overview

  • Bill Gates has committed 99% of his remaining $107 billion fortune to the Gates Foundation, accelerating its closure to December 31, 2045.
  • The foundation will double its historical spending, disbursing $200 billion over the next two decades, with a sustained annual budget of approximately $9 billion.
  • Future efforts will prioritize eradicating diseases like polio and malaria, reducing preventable deaths, and lifting millions out of poverty globally.
  • The decision responds to declining government aid contributions from the US, UK, and France, emphasizing the urgency of private philanthropy.
  • This marks one of the largest philanthropic commitments in history, with Gates citing the need for immediate impact and accountability in achieving his goals.