Bill Gates, Microsoft co-founder and philanthropist, announced today that his foundation will have 20 years to exhaust its funds and wind down operations. Gates, whose fortune is valued at $107 billion, has pledged to donate 99% of his wealth to the Gates Foundation. Over the next two decades, he expects the foundation to spend more than $200 billion.
Reflecting on Milestones and Legacy
“This decision comes at a moment of reflection for me,” Gates shared on his website, Gates Notes. The foundation’s 25th anniversary coincides with several key personal milestones: the 100th anniversary of his father’s birth, Microsoft’s 50th anniversary, and Gates’ 70th birthday in October. Gates emphasized the significance of these events as he considered his legacy and the impact of his foundation.
Gates’ pledge represents the second-largest philanthropic gift in U.S. history, adjusted for inflation. The largest is expected to be from Warren Buffett, with a net worth of approximately $160 billion. Previously, the Gates Foundation was set to close 20 years after Gates’ death. However, at 69 years old and in good health, Gates’ decision reflects a change in the timeline for the foundation’s closure.
Focus on Global Causes and Foreign Aid
Over the past 25 years, the Gates Foundation has already donated more than $100 billion to causes such as health, education, global development, and gender equality. A significant portion of this has supported people in low-income countries battling diseases like malaria.
This announcement comes at a time when the Trump administration has sought to reduce foreign aid, including cutting USAID funding, which managed over $35 billion in congressional appropriations annually. Despite these cuts, the Gates Foundation plans to allocate around $9 billion per year until 2045, continuing its focus on global humanitarian efforts.
