Billionaire philanthropist Bill Gates has announced plans to give away 99% of his $200 billion fortune, keeping just 1% for himself and his family, as he prepares to wind down the Bill and Melinda Gates Foundation over the next two decades.
In a personal message posted Thursday on his blog, Gates Notes, the Microsoft co-founder revealed that the foundation, long considered one of the most influential charitable organizations in the world, will officially shut its doors on December 31, 2045.
“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,” Gates wrote. “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”
Gates said the decision marks a significant shift from the foundation’s original sunset plan, which had envisioned it continuing operations for several decades after his and co-founder Melinda French Gates’ deaths.
“After discussions with our board, I now believe we can accomplish our mission on a shorter timeline—especially if we increase our investments and provide certainty to our partners,” he explained.
Founded in 2000, the Gates Foundation has spent over $100 billion tackling global challenges in health, education, and poverty reduction. It has been instrumental in initiatives such as vaccine development, combating infectious diseases, and expanding access to healthcare and education in low-income countries.
Gates highlighted some of the foundation’s major achievements, including its role in creating Gavi, the Vaccine Alliance, and the Global Fund, which have collectively helped save more than 80 million lives. He also pointed to support for a rotavirus vaccine that significantly reduced childhood deaths from diarrhea, and the foundation’s long-standing commitment to eradicating polio alongside partners like Rotary International.
Despite its successes, the foundation has also faced criticism for the outsized influence Gates holds over global health and policy. However, Gates dismissed those concerns in an interview with the Associated Press, saying, “Like any private citizen, I can choose how to spend the money I earn.”
The plan to give away 99% of his wealth by 2045 leaves approximately $1.6 billion for himself and potentially his three adult children—Phoebe, Rory, and Jennifer—according to Daily Mail.
As the foundation prepares for its final two decades, Gates emphasized the urgency of accelerating progress. “I think 20 years is the right balance between giving as much as we can to make progress on these things and giving people a lot of notice that now this money will be gone,” he said.
With this announcement, Gates signals not just a personal legacy, but a bold redefinition of billionaire philanthropy—focused on making maximum impact within a fixed window.
