Gates Foundation to spend $200 bn through 2045 when it will shut down / Photo: © AFP/File
-
TikTok launches crowd-sourced debunking tool in US
-
'Ours forever': would-be Israeli settlers march on Gaza
-
Trump punishes Brazil with tariffs, sanctions over trial of ally Bolsonaro
-
US sprinter Kerley out of US trials
-
Ukraine will fix anti-graft law, minister tells AFP ahead of crucial vote
-
Tata Motors to buy Italy's Iveco for $4.4 bn
-
From skies over Gaza, Jordanian crew drops lifeline to civilians
-
US Fed holds firm against Trump pressure as divisions emerge
-
Michael Jackson's dirty sock sells for over $8,000 in France
-
Turkish city calls for help after heat tops 50C
-
Renault names Provost CEO after De Meo exit
-
Le Court makes history for Africa at women's Tour de France
-
Canada central bank holds rate steady citing US tariff 'threats'
-
Henry puts New Zealand in control of 1st Test against Zimbabwe
-
Stocks edge higher, dollar gains before tech earnings, Fed decision
-
Palestine Action wins bid to challenge terror ban in London court
-
EU urged to act on forests' faltering absorption of carbon
-
India secures return of ancient Buddhist gems
-
Stokes braced for 'emotional' tribute to late England batsman Thorpe
-
France's Luc Besson resurrects new 'romantic' Dracula
-
Trump hits India with 25% tariff and 'penalty' over Russia ties
-
Chinese sub discovers deepest-ever creatures 10 km undersea
-
Kingscote revels in being the 'villain' of Sussex Stakes shock
-
English cricket chiefs confirm sale of six Hundred franchises
-
Wirtz opens Liverpool account in friendly win in Japan
-
Marchand shatters record as US, Australia win more world gold
-
Thousands honour Ozzy Osbourne at UK hometown funeral procession
-
WHO chief says continuous medical aid into Gaza 'critical'
-
London court rules oligarch liable in $1.9 bn Ukraine loan scheme
-
England's Stokes out of India series decider with shoulder injury
-
Stocks diverge, dollar gains before tech earnings, Fed decision
-
India's Gill says Oval groundsman caused 'unnecessary' row
-
Physicists still divided about quantum world, 100 years on
-
Russia relieved as tsunami spares far east from major damage
-
'Can't believe it': Marchand shatters long-standing world record
-
French govt prepares new law to return colonial-era art
-
London court rules oligarch liable over $1.9 bn Ukraine loan scheme
-
Olympic biathlon champion confirmed dead after Pakistan mountaineering accident
-
German biathlete confirmed dead after accident on Pakistan mountain
-
Marchand smashes long-standing 200m medley world record
-
US economy returns to growth in second quarter on tariff turbulence
-
'All gone': Beijing villagers left with nothing after deadly floods
-
Aston Martin pares outlook as US tariffs weigh
-
Adidas says may hike US prices after tariff cost warning
-
GSK reports improved outlook despite US drug tariffs
-
Olympic champ Pan crashes out again in second worlds flop
-
Thai family mourns soldier son killed just before truce
-
Zimbabwe's Taylor to return after corruption and drugs ban
-
'Whirlwind' as Australia's O'Callaghan romps to 200m world gold
-
Portugal gains control of some wildfires
NYSE - LSE
| BCC | -1.47% | 84.89 | $ | |
| SCS | -1.74% | 10.33 | $ | |
| NGG | -0.47% | 70.19 | $ | |
| RBGPF | -4.75% | 74.03 | $ | |
| CMSC | -0.04% | 22.6 | $ | |
| BCE | -0.55% | 23.53 | $ | |
| BTI | 0.73% | 53.16 | $ | |
| RIO | -4.67% | 59.49 | $ | |
| CMSD | -0.26% | 23.06 | $ | |
| GSK | 3.34% | 38.97 | $ | |
| SCU | 0% | 12.72 | $ | |
| RYCEF | -2.14% | 13.1 | $ | |
| JRI | 0.38% | 13.11 | $ | |
| VOD | -0.45% | 11.06 | $ | |
| RELX | -0.27% | 51.78 | $ | |
| BP | -2.2% | 32.25 | $ | |
| AZN | 3.41% | 76.59 | $ |
Gates Foundation to spend $200 bn through 2045 when it will shut down
The Gates Foundation plans to spend more than $200 billion over the next 20 years, accelerating its public health mission and shutting down in 2045, the organization said Thursday.
The new timetable means a change to the organization's charter, which planned for the foundation to sunset 20 years after the death of Bill Gates.
The shift is driven by "urgency and opportunity," as artificial intelligence advances boost the potential for human wellbeing even as governments cut back on aid funding, the foundation said.
"During the first 25 years of the Gates Foundation -- powered in part by the generosity of Warren Buffett -- we gave away more than $100 billion," Gates, 69, said in a blog post, referring to the influential American investor.
"Over the next two decades, we will double our giving," Gates wrote.
The blog post contained a chart showing Gates's net worth plummeting 99 percent over the next 20 years. Gates is currently listed as the 13th on the Forbes "real-time" billionaire list, with a net worth of $112.6 billion.
"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."
The Bill and Melinda Gates Foundation launched in 2000, the same year Bill Gates stepped down as CEO of Microsoft. In 2024, Melinda French Gates exited the foundation three years after the couple's divorce.
Gates cited progress in launching global public health efforts including campaigns to eradicate polio and the creation of a new vaccine for rotavirus that has helped reduce the number of children who die from diarrhea each year by 75 percent.
"By accelerating our giving, my hope is we can put the world on a path to ending preventable deaths of moms and babies and lifting millions of people out of poverty," Gates said in the blog.
Separate from the Gates Foundation, the Microsoft founder said he plans to continue to provide funding for initiatives to expand access to affordable energy and for breakthrough research into Alzheimer’s disease.
E.Gasser--VB
