A $200 Bn Farewell: Bill Gates Winds Down His Legacy of Giving

Bill Gates has announced a bold plan to wind down the Bill & Melinda Gates Foundation by 2045, committing $200 billion over the next two decades to accelerate global health and development initiatives. The goal of Microsoft Founder is to donate 99% of his remaining wealth, ensuring that the foundation’s financial resources are fully utilized within this timeframe.

The Bill & Melinda Gates Foundation, originally set to sunset 20 years after Gates’ death, has now revised its charter to close much earlier. The funds will focus on ending preventable deaths, protecting children from infectious diseases, and lifting millions out of poverty. Gates emphasized that technological advancements, including AI, provide unprecedented opportunities to improve lives globally.

This move marks one of the largest philanthropic commitments in history, surpassing even the legendary contributions of figures like John D. Rockefeller and Andrew Carnegie. Gates hopes others will follow his lead, stating, “I’d love to be beat in all of this work. Somebody should try and pay more taxes than I did, and save more lives than I did, and give more money than I did, and be smarter than I’ve been.

Unlike many foundations that operate indefinitely, Gates has set a firm closure date, ensuring all funds are spent within two decades. His plan to donate 99% of his wealth contrasts with other billionaires who pledge large sums but distribute them gradually.

Besides, Gates co-founded the Giving Pledge, encouraging billionaires to donate at least half their wealth. While many have signed, few match his scale and urgency.

Warren Buffett has donated billions to the Gates Foundation but prefers gradual giving rather than a structured wind-down.

Several billionaires have committed significant portions of their wealth to philanthropy, each with unique approaches.

MacKenzie Scott has donated over $17 billion in unrestricted grants to nonprofits, focusing on education, racial equity, and economic mobility.

Yvon Chouinard (Founder of Patagonia) transferred his entire company to an environmental trust, ensuring all profits go toward climate change initiatives.

Ratan Tata directed a substantial portion of his wealth to education, healthcare, and rural development, inspiring philanthropy in India.

Chuck Feeney quietly donated over $8 billion, choosing to live modestly while funding education and healthcare.

Warren Buffett has pledged to donate 99% of his fortune, primarily through the Giving Pledge and contributions to the Gates Foundation.

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