Bill Gates to Donate 99% of $107 Billion Fortune to Gates Foundation, Aiming to Spend $200 Billion on Global Health by 2045
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Bill Gates has announced plans to donate 99% of his remaining tech fortune, estimated at $107 billion, to the Bill & Melinda Gates Foundation. In an interview with CBS Mornings, Gates revealed that this donation, amounting to about $113 billion of his personal wealth, will enable the foundation to spend an additional $200 billion over the next two decades on global health and education initiatives. The foundation, based in Seattle, will close in 2045, marking a strategic shift to address pressing global issues more urgently.
The decision to wind down the foundation earlier than originally planned, which was two decades after Gates' death, coincides with the foundation's 25th anniversary. The foundation has been a major player in global health, contributing to a significant reduction in childhood deaths from preventable causes and having paid out $77.6 billion in grants since its inception.
Gates emphasized the foundation's role in shaping global health policy and its partnerships with companies to make medical treatments affordable for low- and middle-income countries. Despite facing criticism for its influence, the foundation remains committed to its mission, with a focus on eradicating diseases like polio and malaria. This move comes amid the Trump administration's impact on foreign aid, which has been a point of concern for global health initiatives.
BREAKING: Bill Gates to Shut Down $200 Billion Foundation by 2045 in Final Push to Save Global Health
Bill Gates is going all in on a $200 billion philanthropic gamble — aiming to fully spend down the Gates Foundation and shut it down by 2045. Citing widening global health https://t.co/N1MDrFXIW2
BREAKING: Bill Gates to Shut Down $200 Billion Foundation by 2045 in Final Push to Save Global Health
Bill Gates is going all in on a $200 billion philanthropic gamble — aiming to fully spend down the Gates Foundation and shut it down by 2045. Citing widening global health https://t.co/N1MDrFXIW2
Bill Gates is giving away “virtually all my wealth” to the @gatesfoundation before it shuts its doors for good in 20 years.
In exclusive interviews with Fortune, @BillGates laid out his plans and the thinking behind them. https://t.co/sb5JF2XzYH https://t.co/PqJ0yX23nQ
Bill Gates says he will donate 99% of his remaining tech fortune to the Gates Foundation, which will now close in 2045, earlier than previously planned. Today, that would be worth an estimated $107 billion. https://t.co/2gbLU9aIAV
NEW:
Bill Gates is now saying his foundation will shut down in 20 years.
Rather than sunsetting after his death, the Gates Foundation will empty its bank account now.
https://t.co/CHv3mVHFND
