Bill Gates Gives Himself New Deadline to Give Away $100 Billion Fortune and to Close Foundation

Published: Thursday, May 8, 2025 at 3:05 pm

Bill Gates Accelerates Philanthropic Mission, Plans to Close Foundation

Tech titan Bill Gates is making headlines with a significant announcement: he plans to donate nearly his entire fortune, estimated at $107 billion, to the Bill & Melinda Gates Foundation. This commitment, revealed in an interview with the Associated Press, will see 99% of his wealth channeled into the foundation over the next two decades, providing it with an additional $200 billion to spend.

Gates, now 69, shared that the foundation, which he co-founded with his then-wife Melinda French Gates in 2000, is slated to close its doors permanently on December 31, 2045. This decision, he explained, is driven by a desire to maximize the impact of his giving and is inspired by Andrew Carnegie's philosophy of returning wealth to society. He believes this timeline strikes the right balance between accelerating progress on critical global issues and providing ample notice for the eventual closure.

The announcement comes as the Gates Foundation celebrates its 25th anniversary and coincides with several personal milestones for Gates, including his upcoming 70th birthday and Microsoft's 50th anniversary. The foundation has already made a substantial impact, directing scientific research, developing new technologies, and fostering partnerships worldwide.

This news follows Melinda French Gates' departure from the foundation in May 2024, after their divorce in 2021. In a letter to colleagues, she expressed gratitude for the foundation's work and the impact it has made.

Keywords: Bill Gates, Gates Foundation, philanthropy, donation, wealth, Melinda French Gates, Andrew Carnegie, giving, global impact, 2045, Microsoft, charity, billionaire, fortune, donate, closing foundation.

Full Story