Gates Foundation to spend $200 bn through 2045 when it will shut down / Photo: © AFP/File
-
Novelist Kundera and wife buried in Czech home city
-
Hegseth blasts NATO allies, says US will review forces in Europe
-
Cuban economy needs 'urgent changes' to overcome crisis: president
-
Greenland sees wildfires earlier in the year
-
US Open resumes after two-hour fog delay
-
The vaccines and treatments being developed for Ebola outbreak
-
Spanish king to visit Mexican president on June 25 as ties improve
-
Ton-up Phillips stars for New Zealand against England
-
Wahi denied Canadian visa for Ivory Coast World Cup clash with Germany
-
Swiss central bank holds interest rates, with eye on currency risks
-
S.African sentenced in 'world's largest' rhino trafficking case
-
Bank of England follows Fed in holding interest rate
-
Bittersweet World Cup for Gaza's football fans
-
Trump defends Iran deal from critics he calls 'fools'
-
New heatwave disrupts trains, schools in France
-
German chemical company to cut 3,200 jobs as crisis worsens
-
Starmer's Labour rival eyes win in UK poll key to PM's fate
-
Oil falls further on Mideast deal, but Fed outlook knocks equities
-
Mexico, Korea eye World Cup knockout berths
-
Range raises $8.3M Series A to unify treasury, risk and compliance across stablecoins and fiat
-
IAEA ready to help define 'concrete steps' to implement US-Iran deal
-
Ibrahima Konate signs four-year deal with Real Madrid
-
Hegseth tells NATO US will review force presence in Europe
-
Innovations on show at Paris Vivatech fest
-
Ukraine sets Moscow refinery ablaze in biggest attack in years
-
Bird flu kills 13,000 seal pups on remote Australian island
-
Oil prices sink further as Trump signs deal to reopen Hormuz
-
South Korean lawmakers launch probe into ballot paper shortages
-
Starmer rival seeks win in UK poll pivotal to PM's fate
-
Taiwan president says hopes for $14 bn US arms sale 'as soon as possible'
-
Why are Kenyan kids burning schools and killing their classmates?
-
New wave of anti-LGBTQ laws sweeps Africa
-
Ukraine hopes renewables can Russia-proof power grid
-
Jubilant New York on guard for Knicks parade
-
What we learned after the first round of World Cup games
-
New Zealander Manu has 'no fear' of Toulouse before Top 14 semi
-
Drastic restrictions on public transport take effect in Cuba
-
Pain-riddled South Korean man fights for right to die
-
Cuba approves economic reforms to boost private sector, investment: state TV
-
India learns to live with hotter summers
-
'Retired' Wallaby Slipper, 37, set for shock international comeback
-
EU wrestles over how to tackle China export flood
-
Tartan Army takes over Boston as Scotland fans relish World Cup return
-
Comedian Jordan Klepper wishes satire was harder in age of Trump
-
Robots pour cocktails and run marathons, but still can't multitask
-
Birthright citizenship helps spark US World Cup run
-
Ghana beat Panama 1-0 in World Cup opener after injury-time winner
-
Castro gives crucial backing to Cuba reforms
-
Driving the World's Leading Supply Chains: 9 OMP Customers Named to The 2026 Gartner Top 25
-
U.S. Polo Assn. Unveils Spring-Summer 2027 Collection at the 110th Edition of Pitti Immagine Uomo
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
