Bill Gates hires an entire fortune of $ 107 billion to charitable works, plans to close the Gates Foundation by 2045.
In a historic decision that redefines modern philanthropy, Bill Gates has promised 99% of his remaining technological fortune – estimated today at $ 107 billion – at the Bill & Melinda Gates Foundation. The Foundation, already one of the most influential charitable organizations in the world, will now pass its endowment and close its doors by 2045, two decades earlier than expected.
“It’s a bit exciting to have so much to be able to put in these causes,” said Gates in an interview with the Associated Press, capturing the deep meaning of the objective stimulating his decision. This decision establishes a new standard to give, placing doors in the rare company of historic philanthropes such as John D. Rockefeller and Andrew Carnegie – but even exceeding their legendary contributions when they were adjusted for inflation. Only Warren Buffett’s commitment to give his fortune, currently estimated at $ 160 billion, can be more important depending on market fluctuations.
One of the greatest philanthropic gifts in history
Gates will be distributed over time, allowing the foundation to deploy an extraordinary 200 billion dollars over the next 20 years, which has to meet some of the most urgent challenges in the world, from global health to educational inequality in the United States.
“I think that 20 years is the good balance between giving as much as possible to progress on these things and give many notifications to people that this money will be gone,” said Gates. His urgency underlines the conviction that the realization of wealth towards an immediate impact will save and improve countless lives today, with advantages which will extend long after the foundation ceases operations.
An unequaled impact inheritance
Founded in 2000 by Bill Gates and Melinda French Gates, the Gates Foundation has become a power of global health and development. It has already invested more than $ 100 billion in the past 25 years and has helped shape international health policy, guide scientific research and negotiate partnerships that result in the cost of essential drugs for low and intermediate income countries.
“The foundation work had much more impact than I was expecting,” said Gates, calling her “second and last career”.
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About 41% of the foundation resources come from Warren Buffett, the rest funded by Microsoft Fortune de Gates. Thanks to initiatives like Gavi, the Alliance vaccination – which the Foundation has helped to create – millions of children have received vital vaccinations. Between 2000 and 2020, the infantile deaths of the avoidable causes fell by almost half, according to the United Nations data. The Foundation does not take the sole credit, but its leaders recognize its “catalytic role”.
Concentrated ambitions for the next two decades
While the Foundation is entering its last chapter, its leadership reduces its objective of some ambitious priorities: the eradication of polio, the fight against diseases such as malaria and the fight against malnutrition – all critical fields where investment could today transform the world’s results of health.
The CEO of the Foundation, Mark Suzman, recognized the weight of the responsibility which accompanies this unprecedented financing horizon. “Having this temporal horizon and the resources just puts an even bigger burden to say:” Do you really put your resources … on what will be the most important and successful bets rather than dispersing it too finely? “”
The Foundation plans to maintain an annual budget of $ 9 billion – an almost continuous increase in growth observed since the initial buffett donations in 2006. With greater concentration on a more in -depth examination, especially in a world faced with conflict, economic instability and declining global aid.
A private citizen with a public mission
Throughout its history, the Gates Foundation has inspired and invited a debate on the power of private philanthropy to influence public policy. Gates has faced questions about the reasons why a rich person should make such an influence in global health.
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But for him, the answer is simple: he has the means to make a difference, and he chooses to use it. “Is it a bad thing? It is not an important cause? People can criticize it,” said Gates. “But the foundation will stick to its global health work.”
“It’s incredible to find these things at low cost and tragic if we cannot bring them to all those who need them,” he added. “It will therefore require to renew this commitment from those who are in conformity to help those who need the most.”
Transitions and trust
The announcement also marks an important personal transition. In 2021, Gates and Melinda French Gates divorced. Shortly after, Buffett resigned as a trustee. In 2024, French Gates left the foundation to focus on his own organization, Pivotal Ventures, in particular to defend women’s rights in the United States
“I trusted Mark Suzman so much, the current CEO,” she said. “We had a board in place that I helped to set up, and I knew their values.” She pointed out that she had gone to a high point to pursue new priorities as part of the growing threats of women’s rights.
Despite this turnover, the foundation’s mission remains clear. Gates is the last of the original founders always involved, and although he warns to remain engaged, he recognizes that at 69 years old, he may not see the closure of the Foundation itself.
An ultra gift model
While the Gates Foundation is entering its last two decades, it testifies to what intentional philanthropy on a large scale can accomplish. Gates’ decision to give almost all its riches to the causes which relieved the suffering and the improvement of opportunities is both rare and deeply admirable.
“The greatest uncertainty for us is the generosity that will go into global health,” admitted Gates. “Will he continue to descend as if it had been in recent years or can we bring him back where he should be?”
With this unprecedented commitment, Gates bets that it is time to act – and that the impact of giving today can echo for generations.