Bill Gates Wants Foundation to Spend All Money by 2045

A Defined Sunset for the Gates Foundation

The Gates Foundation has been given a projected timeframe for its eventual closure. Bill Gates, the co-founder of Microsoft and a prominent philanthropist, announced on Thursday that the foundation will aim to deplete its resources and cease operations within the next two decades.

Gates has committed to donating 99% of his current estimated $107 billion fortune to the foundation. This substantial commitment is projected to result in over $200 billion being distributed over the coming 20 years.

Reflecting on Milestones

“This decision is the result of considerable personal contemplation,” Gates explained on his official blog, Gates Notes. “This year is significant as we commemorate the foundation’s 25th anniversary, alongside milestones such as what would have been my father’s 100th birthday, Microsoft’s 50th anniversary, and my own 70th birthday in October.”

The anticipated total of Gates’ contribution is expected to represent the second-largest philanthropic donation in U.S. history, when adjusted for inflation.

A Shift in Planning

Warren Buffett, with an estimated net worth of $160 billion, is currently projected to make the largest philanthropic gift. Previously, the Gates Foundation’s operational plan stipulated closure 20 years following Gates’ passing.

Given that the 69-year-old Microsoft founder currently enjoys good health, this announcement signifies a notable alteration to the foundation’s long-term strategy.

Impact and Existing Contributions

Over its 25 years of operation, the Gates Foundation has already allocated more than $100 billion to various initiatives. These efforts are primarily focused on areas such as global health, education, international development, and the advancement of gender equality.

A significant portion of the foundation’s support has been directed towards individuals in developing nations who are affected by prevalent and often fatal diseases, including malaria.

Context of Foreign Aid Policies

This news emerges at a time when the Trump administration has implemented reductions in foreign aid allocations. USAID, an agency impacted by these cuts, previously oversaw more than $35 billion in annual congressional funding.

The Gates Foundation anticipates an annual expenditure of approximately $9 billion through the year 2045, continuing its commitment to global betterment.