Billionaire philanthropist Bill Gates plans to donate almost his entire $200 billion fortune, retaining just one percent for personal use, as he discontinues the operations of the Bill and Melinda Gates Foundation.
On Thursday, the Microsoft co-founder announced via a posting on his personal blog, GatesNotes, that the 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 death, yet I’m resolved that ‘he passed away wealthy’ won’t be among their comments.
“There are numerous pressing issues that require attention, so I can’t keep hold of resources that could be utilized to assist others,” he stated.
He stated, “This is why I’ve chosen to return my fortune to society at an accelerated pace compared to what I initially intended. Within the upcoming 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 then cease operations indefinitely as of December 31, 2045.”
As illustrated in the chart featured in the blog post, Gates disclosed his intention to donate 99 percent of his fortune by 2045, retaining only one percent, approximately $1.6 billion, for personal and familial use.
Launched in 2000 alongside his former spouse, Melinda French Gates, this organization has invested more than $100 billion in worldwide health initiatives, educational programs, and efforts against poverty. The funds have supported vaccine creation, medical studies, and humanitarian assistance across the globe.
He additionally observes a change from the initial strategy.
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 it would conclude operations many years following our passing. However, a few years back, I started reconsidering this methodology.
“Recently, incorporating feedback from our board, I am convinced that we can reach the foundation’s objectives within a reduced timeframe, particularly by intensifying our focus on crucial investments and offering greater assurance to our collaborators,” he noted.
The Daily Mail indicates that the final one percent of his wealth might eventually be distributed among 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 played a crucial role in establishing Gavi and the Global Fund, entities that revolutionized how global health initiatives procure and distribute life-saving resources such as vaccines and antiretroviral treatments. Collectively, these organizations have rescued over 80 million lives up until now. In collaboration with Rotary International, we have also been instrumental in rejuvenating efforts aimed at eradicating polio.
We backed the development of a novel rotavirus vaccine that has cut down child deaths caused by diarrhea by 75%. Throughout this process, we collaborated with various organizations including other foundations, nonprofits, government bodies, international agencies, and businesses to tackle significant challenges—committing ourselves to continuing this partnership approach over the coming two decades.
Even after many years of influence, the Gates Foundation has faced critiques from individuals who argue that Gates wields excessive control over decisions related to global health funding.
However, during an interview with the Associated Press on Thursday, he stays unfazed, stating that just as any ordinary person, he has the right to decide how to use his own earnings.
“I believe that 20 years strikes the right balance between contributing as much as possible to advance these initiatives and providing ample warning that this funding will no longer be available,” he stated.
Provided by Syndigate Media Inc. (
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