Bill Gates Plans to Close Foundation by 2045, Pledges $200 Billion for Global Impact

 

Seattle, WA – May 8, 2025

Bill Gates accelerates his philanthropic efforts, committing to donate his entire fortune by 2045 and dramatically increase the Gates Foundation’s global health and poverty alleviation initiatives.

In a landmark announcement on the 25th anniversary of the Bill & Melinda Gates Foundation, Bill Gates revealed plans to close the foundation by December 31, 2045. This decision accelerates the foundation's original timeline, which had anticipated a closure several decades after Gates' death. Gates aims to donate 99% of his estimated $108 billion fortune, contributing an additional $200 billion to the foundation's endowment over the next 20 years. This move is inspired by Andrew Carnegie's 1889 essay, "The Gospel of Wealth," which advocates for the wealthy to return their resources to society during their lifetimes. Business Insider+9People.com+9AP News+9Health Policy Watch+3Axios+3Gates Foundation+3Health Policy Watch+1People.com+1

The foundation plans to spend over $200 billion in the next two decades, doubling its previous giving. These funds will focus on three primary goals: ending preventable deaths of mothers and babies, ensuring the next generation grows up without suffering from deadly infectious diseases, and lifting millions of people out of poverty. Bloomberg+5Health Policy Watch+5Gates Foundation+5

Gates' decision comes amid global challenges, including recent cuts to U.S. foreign aid programs. He criticized Elon Musk for terminating U.S. foreign aid programs, accusing him of endangering impoverished children worldwide. In response, Gates announced plans to accelerate his philanthropic efforts, pledging to donate his wealth and close the Gates Foundation by 2045. Financial Times

The foundation's CEO, Mark Suzman, affirmed that the plans to sunset the organization in 2045 were known to and supported by co-founder Melinda French Gates and former trustee Warren Buffett. French Gates, who resigned from the foundation in 2024, expressed her pride in its work and her commitment to advancing society through various tools, including investments and philanthropic dollars. Axios+2GeekWire+2AP News+2

Gates emphasized that the accelerated timeline reflects the urgency of addressing global health and equity challenges. He believes that by focusing resources now, the foundation can achieve significant progress in improving lives worldwide before its closure in 2045. Gates Foundation+1Gates Foundation