Gates Foundation Drops the Hammer: Billionaire Not Gunning to Be a Rich Man Forever
Wealthy mogul Bill Gates won't maintain his fortune after his demise.
Billionaire Bill Gates has decided to part ways with his fortune faster than anticipated, with the Bill & Melinda Gates Foundation set to dish out $200 billion in the next two decades and close its doors in 2045.
Microsoft co-founder Bill Gates plans to rid himself of billions and focus on charitable causes sooner rather than later. The Gates Foundation, a behemoth in philanthropy, was established 25 years ago with the aim of improving global health, combating extreme poverty, and providing educational access by funding a range of programs, including vaccination campaigns.
A Fast-Tracked Giving Agenda
"The world is facing an array of pressing issues that require urgent attention and resources," Gates wrote, adding, "The time for action is now." He intends to make most of his fortune accessible through the Gates Foundation over the next 20 years, ensuring that money will be put to good use in saving and enhancing lives around the world.
This significant speed-up in Gates' giving agenda was supported by the foundation's board of trustees via an amendment to their charter. Initially slated to dissolve 20 years after Gates' death, the organization will now sunset by the end of 2045.
On Reflection
This move comes at a pivotal moment in Gates' life, as the 25th anniversary of the foundation, his father's 100th birthday, and his own 70th birthday approach. It draws inspiration from Andrew Carnegie, whose philosophy in "The Gospel of Wealth" advocated for philanthropists not to die rich.
Salivating Figures and Lasting Legacy
By the end of 2045, the Gates Foundation's impressive roster of donations is projected to double, exceeding the current foundation's assets and supplemented by Gates' personal funds. The foundation aims to spend more than $200 billion before its forever closure on the last day of 2045.
Source: ntv.de, mdi/dpa
- Bill Gates
- Foundations
- Billionaires
- Microsoft
Enrichment Data:
Overall:
Bill Gates has significantly accelerated the timeline for the distribution of his wealth through the Bill & Melinda Gates Foundation. Previously, the foundation was set to wind down two decades after the Gateses' deaths. However, on the foundation’s 25th anniversary, Bill Gates announced a new plan: the foundation will close by 2045, much earlier than previously scheduled, and aims to spend virtually all of its resources—$200 billion—over the next 20 years [3][4].
Key Changes and Motivations
- Doubling Spending: Over the next two decades, the foundation intends to double its spending, committing to distribute more than $200 billion by 2045. This sum includes both Gates’ future contributions and the endowment’s remaining balance [2][3][5].
- Timeline Acceleration: The original plan was for the foundation to wind down about 20 years after the deaths of Bill and Melinda Gates. The new plan advances this to a fixed closure date, with all resources to be spent by 2045 [3][4].
- Inspiration: Gates cites Andrew Carnegie’s philosophy in “The Gospel of Wealth,” emphasizing that dying rich is a disgrace and that urgent global problems demand immediate action. This philosophy influenced his decision to accelerate giving [1][3].
- Impact and Strategy: Gates believes that spending down the foundation’s resources within his lifetime will allow for more decisive, impactful investments and provide greater certainty to partners [3][5].
Summary Table: Old vs. New Plans
| Aspect | Original Plan | New Plan (2025 Announcement) ||----------------------|----------------------------------------------|----------------------------------------|| End Date | ~20 years after Gateses’ deaths | 2045 (fixed date) || Spending Timeline | Generational, indefinite | Next 20 years (2005–2045) || Total Commitment | Not fixed; generational endowment | >$200 billion over next 20 years || Motivation | Long-term generational impact | Urgent action on global problems |
This new approach reflects a major shift from long-term, generational philanthropy to an accelerated, large-scale spending model to maximize immediate impact [3][4][5].
- The Bill & Melinda Gates Foundation, established 25 years ago by billionaire Bill Gates, has decided to expedite its giving agenda, aiming to close its doors by 2045 and distribute over $200 billion during the next 20 years.
- This accelerated plan is supported by the foundation's board of trustees and aligns with the philosophy of Andrew Carnegie, who advocated against dying rich.
- By the end of 2045, the foundation is projected to double its assets, exceeding its current value and supplemented by Bill Gates' personal funds.
- The new employment policy within the foundation aims to make most of Bill Gates' fortune accessible over the next two decades, focusing on charitable causes and improving global health, combating extreme poverty, and providing educational access.
