Bill Gates Announces Closure of Gates Foundation by 2045, Pledging Nearly Entire Fortune to Global Health

Photo Katy Grannan

In a landmark decision marking the 25th anniversary of the Gates Foundation, Bill Gates has announced plans to donate 99% of his estimated $108 billion fortune over the next two decades, culminating in the foundation’s closure by December 31, 2045. This accelerated timeline aims to address pressing global challenges more urgently than previously planned.

Accelerated Philanthropy for Immediate Impact

Originally intended to operate several decades beyond the deaths of its founders, the Gates Foundation will now sunset within 20 years. Gates emphasized the urgency of current global issues, stating, “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”

The foundation plans to double its annual spending from $6 billion to $9 billion by 2026, focusing on eradicating diseases like malaria and polio, reducing preventable deaths among women and children, and combating global poverty.

Responding to Global Aid Reductions

Gates’s announcement comes amid significant reductions in international aid, including the closure of the U.S. Agency for International Development (USAID) earlier this year. He criticized these cuts, warning that they could reverse decades of progress in global health and development.

Legacy and Future Outlook

Since its inception in 2000, the Gates Foundation has contributed over $100 billion toward global health, education, and poverty alleviation. With the planned infusion of an additional $200 billion, the foundation aims to maximize its impact before its closure.

Melinda French Gates, who co-founded the foundation and departed in 2024, reflected on its mission, expressing hope that its work would continue to benefit future generations.

As the Gates Foundation embarks on its final two decades, it seeks to inspire a renewed commitment to philanthropy and global cooperation in addressing the world’s most pressing challenges.