Billionaire philanthropist and Microsoft co-founder Bill Gates has announced plans to donate nearly all of his $200 billion fortune, retaining only one per cent, as he prepares to wind down the Bill and Melinda Gates Foundation by December 31, 2045.
In a blog post on *Gates Notes*, Gates wrote, “People will say a lot of things about me when I die, but I am determined that ‘he died rich’ will not be one of them. There are too many urgent problems in the world for me to hold onto resources that could be helping others.”
Founded in 2000 with his then-wife Melinda French Gates, the foundation has invested over \$100 billion in global health, education, and poverty reduction. It played a key role in the creation of Gavi, the Vaccine Alliance, and the Global Fund, credited with saving over 80 million lives. The foundation has also supported vaccine development, eradication of polio, and access to clean water.
Gates revealed that he initially planned for the foundation to wind down decades after his death. However, with feedback from the board, he revised that timeline to fast-track giving and provide clarity to partners. “I believe we can achieve our goals on a shorter timeline, especially with increased investment,” he stated.
A chart included in his post outlines plans to give away 99% of his wealth by 2045, leaving the remaining 1%—approximately \$1.6 billion—for personal and family use. Reports suggest this may eventually be inherited by his children: Jennifer, Rory, and Phoebe.
Despite criticism about his influence over global health funding, Gates told the Associated Press, “Like any private citizen, I have the right to choose how to spend my earnings. I believe 20 years is the right balance—to maximize impact and give partners time to prepare.”
Reflecting on the foundation’s legacy, Gates said, “I’m deeply proud of what we’ve achieved in the past 25 years. Every step of the way, we’ve collaborated with governments, nonprofits, and the private sector to solve global problems. We will continue doing so until the foundation’s final day.”
