Billionaire philanthropist Bill Gates announces plans to donate nearly all his $200 billion wealth and close the Bill & Melinda Gates Foundation by December 31, 2045. Learn more about his vision, impact, and legacy.
Bill Gates Commits to Giving Away Entire Fortune by 2045
Bill Gates, billionaire philanthropist and co-founder of Microsoft, has officially announced his plan to give away nearly all of his estimated $200 billion net worth over the next two decades. In a blog post published on Gates Notes on Thursday, May 8, 2025, Gates revealed that he intends to close the Bill & Melinda Gates Foundation by December 31, 2045.
This bold move marks a significant shift from the foundation’s original succession plan and reaffirms Gates’ commitment to global philanthropy and social impact.
“There are too many urgent problems to solve for me to hold onto resources that could be used to help people,” Gates wrote.
A Vision to Die Broke — But Impactful
In his statement, Gates emphasized that he doesn’t want to be remembered as someone who “died rich”, but rather as someone who used his fortune to help solve the world’s biggest challenges. The Microsoft co-founder is widely recognized for his philanthropic efforts in global health, education, climate change, and poverty alleviation.
The decision to accelerate giving stems from a re-evaluation of the foundation’s long-term strategy. Originally, Gates and his former wife, Melinda French Gates, had planned for the organization to sunset several decades after their deaths. That clause was included in the foundation’s very first charter in 2000.
“More recently, with the input from our board, I now believe we can achieve the foundation’s goals on a shorter timeline,” Gates explained. “Especially if we double down on key investments and provide more certainty to our partners.”
Gates Foundation’s Global Impact: 25 Years of Change
Since its inception in 2000, the Bill & Melinda Gates Foundation has disbursed over $100 billion across critical areas such as:
-
Global health initiatives
-
Vaccine development and distribution
-
Medical research
-
Education reform
-
Emergency aid and poverty alleviation
Gates highlighted the organization’s most notable achievements, including:
-
Helping establish Gavi, the Vaccine Alliance, and the Global Fund, both of which have revolutionized access to lifesaving vaccines and antiretrovirals in low-income countries. Combined, these organizations have saved over 80 million lives.
-
Partnering with Rotary International to combat polio, contributing significantly to global eradication efforts.
-
Supporting the development of a rotavirus vaccine, which has cut child deaths from diarrhea by 75% globally.
“I am deeply proud of what we have accomplished in our first 25 years,” Gates stated, underscoring the power of collaboration between governments, NGOs, multilateral agencies, and the private sector.
The Future of Philanthropy: What’s Next?
As the Gates Foundation prepares to sunset in 2045, the focus will be on accelerating impact by increasing annual grantmaking and prioritizing key global challenges. Gates envisions a world where philanthropy continues to play a catalytic role — bringing stakeholders together to address health crises, education gaps, and climate threats.
While the foundation will eventually close its doors, Gates insists the next 20 years will be the most aggressive and focused phase of its work yet.
Bill Gates’ decision to give away his entire fortune and close the Gates Foundation by 2045 marks a transformative chapter in global philanthropy. With $200 billion pledged to solving humanity’s greatest problems, his legacy may be defined not by how much he earned — but by how much he gave away.