Microsoft founder and former richest man in the world, Bill Gates has made a surprising announcement. Gates announced on Thursday that he now plans to distribute “virtually all” of his wealth — around $200 billion, he estimates — within the next 20 years, before shuttering the foundation on December 31, 2045.
In a blog post published Thursday morning, he said, “People will say a lot of things about me when I die, but I am determined that ‘he died rich’ will not be one of them.” He added that there were too many urgent problems to solve for him to hold onto resources that could be used to help people.
The Bill & Melinda Gates Foundation, founded in 2000, is one of the largest private philanthropic organizations in the world. Headquartered in Seattle, Washington, its mission is to enhance healthcare, reduce poverty, and expand educational opportunities globally. The foundation focuses on key issues like eradicating infectious diseases (such as malaria and polio), improving global sanitation, and promoting access to vaccines. In the U.S., it emphasizes education reform and equitable access to technology.
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Funded primarily by Bill and Melinda Gates and supported by notable donors like Warren Buffett, the foundation manages an endowment exceeding $50 billion. It operates through partnerships with governments, NGOs, and private sectors to deliver impactful, scalable solutions. Known for its data-driven approach, the foundation aims to create sustainable change through innovation and long-term commitment. Its influence has shaped global health and development policies, making it a central player in modern philanthropy.
In an interview with the Financial Times published Thursday, Gates accused fellow billionaire Elon Musk of “killing the world’s poorest children” because of his work at the Department of Government Efficiency (DOGE) cutting U.S. international aid programs.
The decision to shut down the foundation reflects a belief in giving while living, ensuring funds are used to address urgent global challenges like disease, poverty, and education now, rather than later. The foundation will intensify its work in global health, development, and equity until its closure. This approach marks a strategic shift in modern philanthropy, emphasizing impact over permanence.