Business
Bill Gates Commits His Fortune to Gates Foundation, Set to Conclude in 20 Years
Bill Gates has announced a significant shift in the timeline for the Gates Foundation, moving its closure date up to 2045, twenty years earlier than originally planned. This decision comes as Gates commits to donating 99% of his wealth, currently estimated at $107 billion, to the foundation.
This pledge ranks among the largest philanthropic contributions ever made, surpassed only by Warren Buffett’s ongoing donations. Gates’ commitment ensures that the foundation can allocate an additional $200 billion over the next two decades to various global health and education initiatives.
In a recent interview, Gates expressed excitement about the vast financial resources available for philanthropic causes. “It’s kind of thrilling to have that much to put into these causes,” he remarked, emphasizing his dedication to global health and education.
The foundation, which has been active for 25 years, has already invested over $100 billion, influencing health policies and fostering partnerships to make medical treatments more affordable for underserved populations. Gates believes that spending down his fortune will yield immediate benefits, thereby honoring his intentions more effectively.
Despite criticism, Gates defends his philanthropic approach, asserting that addressing issues like childhood mortality is a crucial and worthwhile endeavor. The foundation has contributed to a notable reduction in childhood deaths from preventable causes, based on United Nations data.
Copyright 2025 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
