Bill Gates has announced plans to donate nearly his entire fortune—estimated at $200 billion—over the next 20 years and to close the Bill & Melinda Gates Foundation permanently by December 31, 2045. The decision marks a significant shift in the foundation’s long-term vision, which originally intended to operate for decades beyond the founders’ lifetimes.
Gates, who co-founded the foundation in 2000 with then-wife Melinda French Gates, said the scale of global challenges demands faster action. He emphasized that he does not want to be remembered as someone who died rich, stating, “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”
Since its founding, the Gates Foundation has distributed more than $100 billion to support global health, vaccine development, disease prevention, and poverty reduction. The new plan will direct the foundation’s final two decades toward three primary goals: ending preventable deaths of mothers and babies, eradicating infectious diseases, and lifting hundreds of millions out of poverty.
The announcement comes as President Donald Trump’s administration is moving to reduce funding for foreign aid and public health programs—areas that overlap with many of the foundation’s efforts. Gates said he raised concerns about these cuts directly with the president during a February meeting, pointing to the risks such policies pose to international progress.
At an event in New York announcing the commitment, Gates Foundation CEO Mark Suzman said the organization is facing its toughest political and economic environment since its creation. He warned that ongoing challenges could undermine years of progress, even as the foundation prepares to ramp up its work. The event was attended by high-profile figures including Mike Bloomberg and musician Jon Batiste.
Gates has also publicly criticized other wealthy individuals for not doing more, singling out Elon Musk in a recent interview for supporting actions that have reduced U.S. aid abroad. Gates has long advocated for large-scale philanthropy and launched the Giving Pledge in 2010 with Warren Buffett to encourage billionaires to give away most of their wealth.
Now worth $108 billion, Gates ranks as the fifth richest person in the world. He expects his net worth to fall by 99% by the time the foundation shuts down. The funds will come from a combination of the foundation’s $77 billion endowment and his personal investments.
Melinda French Gates, who formally left the foundation last year, previously said she plans to pursue her own charitable efforts independently. She does not intend to give the majority of her wealth through the Gates Foundation.
The timing of Gates’ announcement follows the 50th anniversary of Microsoft, the company that made him one of the wealthiest people in history. He described the donation plan as a fitting way to mark that milestone and reaffirm his commitment to helping others.
