Billionaire Bill Gates announced Thursday that he plans to give away nearly all of his wealth—estimated at approximately $200 billion—over the next 20 years. Gates, who co-founded the Gates Foundation with his ex-wife Melinda French Gates in 2000, stated that the foundation will cease operations on December 31, 2045, once all funds have been distributed.
Aiming to Set an Example for Other Billionaires
The dramatic announcement comes amid Gates’ efforts to accelerate the foundation’s work in areas such as global health and poverty reduction—particularly in light of funding cuts to health aid programs made under President Donald Trump’s administration. Gates explained that he hopes to set an example for other billionaires by using his wealth for critical social causes during his lifetime.
In a statement published on his personal blog, Gates emphasized that he has no desire “to die rich,” saying: “There are too many urgent problems to solve for me to hold on to resources that could be used to help people.” He added that his net worth is expected to decrease by 99% by 2045 as a result of his donations.
The Foundation Will Focus on Three Key Goals
The Gates Foundation, considered one of the world’s largest philanthropic organizations, has already donated over $100 billion since its founding. Its work spans a wide range of areas, including vaccine development, combating infectious diseases, and lifting hundreds of millions of people out of poverty.
Going forward, the foundation will focus on three primary goals: preventing deaths of mothers and infants, eradicating infectious diseases, and helping millions escape poverty.
