Bill Gates Vows to Donate Nearly Entire Fortune, Close Foundation by 2045

Microsoft co-founder Bill Gates has announced his commitment to donate “virtually all” of his estimated $200 billion fortune to philanthropy over the next two decades, with plans to wind down the Bill & Melinda Gates Foundation permanently by 2045.

In a blog post published Thursday, Gates revealed a major shift from the foundation’s original closure plan, which was scheduled to occur decades after his death. He now aims to double the foundation’s giving pace, building on more than $100 billion in donations made since its inception, significantly supported by investor Warren Buffett.

“For the next 20 years, we’ll focus intensely on giving more,” Gates wrote. His future philanthropic efforts will target three key areas: preventing maternal and child deaths, combating deadly infectious diseases, and lifting millions out of poverty.

The 69-year-old billionaire, currently worth $113 billion according to Forbes, urged other wealthy individuals to consider speeding up their charitable efforts. “It’s a profoundly impactful way to give back to society,” he said.

Gates called the move the “last chapter” of his career, adding that he is at peace with the transition and hopeful for “a future where everyone everywhere has the chance to live a healthy and productive life.”