Bill Gates Bids Farewell to His Fortune: Gates Foundation to Close by 2045
Wealthy Bill Gates to Forfeit Fortune Before Demise
Billionaire and Microsoft co-founder, Bill Gates, is speeding up his wealth distribution to the Bill & Melinda Gates Foundation for the cause of global health and humanitarian projects. The foundation, founded by Gates and his ex-wife Melinda in 1994, with plans to shut down by 2060, will now be closing by 2045, distributing a staggering $200 billion over the next two decades [1][2].
The announcement states, "This decision accelerates our mission to help all people lead healthy, productive lives... This decision represents a significant acceleration of the foundation’s work and sets 2045 as the new end date for its activities" [1]. The foundation aims to tackle issues such as global health, eradicating poverty, and promoting education [3].
Gates expressed his urge to expedite the process, declaring, "There are too many urgent problems that need to be solved for me to hold back resources that could help people... I am determined that 'he died rich' will not be one of them" [1].
This development comes at a significant juncture for Gates, marking the 25th anniversary of the foundation, the centenary of his father, who co-founded the organization, and the 50th anniversary of Microsoft [1]. The board of directors has given their consent to the accelerated timeline through amendments in the foundation's bylaws. The committed funds will surpass the current foundation's assets, with the remainder sourced from Gates' personal wealth [1].
Since inception, the foundation has donated over $100 billion, primarily due to the generosity of investment guru, Warren Buffett [1]. Over the next two decades, the foundation is predicted to double its contributions, depending on market conditions and inflation [1]. By 2045, the foundation aims to have distributed over $200 billion before ceasing operations altogether [1].
- Bill & Melinda Gates Foundation
- Bill Gates
- Microsoft
- Billionaires
[1] ntv.de, MDI / DPA[2] Microsoft's 50-year journey with Bill Gates: Revolutionizing the computer world[3] Economy: The ultra-rich get richer: The billionaires who made the most money in 2024
Enrichment Data:
Bill Gates has decided to accelerate the disbursement of his wealth via the Bill & Melinda Gates Foundation. Initially, the foundation was designed to cease operations decades after the passing of Bill and Melinda French Gates. Nevertheless, Bill Gates plans to make nearly all of his $200 billion fortune available to the foundation by 2045, leading to its ultimate closure at that time [1].
Over the next 20 years, the foundation intends to increase its philanthropic commitments compared to its first 25 years, during which it distributed over $100 billion [1]. This faster timeline reflects Gates' desire to tackle pressing global issues sooner, ensuring his wealth is used to save and enhance lives worldwide [2][3].
- Bill Gates, a billionaire and co-founder of Microsoft, plans to make nearly all of his $200 billion fortune available to the Bill & Melinda Gates Foundation by 2045, thus accelerating its disbursement.
- The Bill & Melinda Gates Foundation, initially planned to cease operations decades after the passing of Bill and Melinda French Gates, will now close by 2045 due to this accelerated timeline.
- Remarkably, this development comes at a significant juncture for Gates, marking the 25th anniversary of the foundation, the centenary of his father, who co-founded the organization, and the 50th anniversary of Microsoft.
- The ultrarich, including Bill Gates, have revolutionized finance and wealth management through their philanthropic endeavors, with Gates donating over $100 billion via the Bill & Melinda Gates Foundation since its inception.
