Billionaire philanthropist Bill Gates has announced plans to donate almost his entire $200 billion fortune, retaining just one percent for personal use, as he discontinues the Bill and Melinda Gates Foundation.
On Thursday, the Microsoft co-founder announced via a posting on his personal blog, GatesNotes, that this organization, recognized as one of the world’s leading philanthropic entities, plans to cease operations by December 31, 2045.
Many people will have plenty to say about me after my passing, yet I’m resolved that ‘he passed away wealthy’ won’t be among those statements.
“There are numerous pressing issues that require attention, so I can’t keep hold of resources that could assist people,” he stated.
He stated, “This is precisely why I’ve chosen to return my fortune to society more rapidly than initially intended. Within the coming two decades, I plan to donate nearly all of my assets via the Gates Foundation for the purpose of enhancing and safeguarding lives globally. The foundation will cease operations indefinitely as of December 31, 2045.”
As illustrated in the graph presented in the blog article, Gates disclosed his intention to donate 99 percent of his fortune before 2045, retaining only one percent, roughly $1.6 billion, for personal and familial use.
Launched in 2000 alongside his former spouse, Melinda French Gates, the organization has invested more than $100 billion in worldwide health initiatives, educational programs, and efforts to combat poverty. This support includes funding for vaccine creation, medical studies, and humanitarian assistance across the globe.
He additionally observes a change from the initial proposal.
This represents a shift from our initial strategy. Back in 2000, when Melinda and I established the Gates Foundation, we incorporated a provision into the organization’s founding document stating that the entity should dissolve some time span after both of us have passed away. However, a few years back, I started reconsidering this stance.
“Recently, incorporating feedback from our board, I am confident that we can reach the foundation’s objectives within a reduced timeframe. This is particularly true if we increase our focus on critical investments and offer greater assurance to our collaborators,” he noted.
The Daily Mail suggests that the final one percent of his wealth might eventually be inherited by his three grown-up offspring: Phoebe, Rory, and Jennifer.
Describing the accomplishments of the foundation, he stated, “I feel profound pride in all that we have achieved during our initial quarter-century.”
“We were central to the creation of Gavi and the Global Fund, both of which transformed the way the world procures and delivers lifesaving tools like vaccines and anti-retrovirals. Together, these two groups have saved more than 80 million lives so far. Along with Rotary International, we have been a key partner in reviving the effort to eradicate polio.
“We supported the creation of a new vaccine for rotavirus that has helped reduce the number of children who die from diarrhea each year by 75 percent. Every step of the way, we brought together other foundations, non-profits, governments, multilateral agencies, and the private sector as partners to solve big problems—as we will continue to do for the next twenty years.”
Even after many years of influence, the Gates Foundation has faced critique from individuals who argue that Gates wields excessive control over decisions related to global health financing.
However, during an interview with the Associated Press on Thursday, he stays unfazed, stating that similar to any ordinary person, he has the liberty to decide how to utilize the income he generates.
“I believe that 20 years strikes the appropriate balance between contributing as much as possible to advance these initiatives and providing ample warning that this funding will soon cease,” he stated.
Provided by Syndigate Media Inc. (
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