Bill Gates Announces Final Chapter: All Wealth to Be Donated, Foundation to Close by 2045

In a bold and transformative declaration, billionaire philanthropist Bill Gates has outlined his plan to give away almost his entire personal fortune and close the Bill & Melinda Gates Foundation by December 31, 2045. In a personal blog post, the 69-year-old Microsoft co-founder said he does not want to be remembered as someone who died wealthy, but as someone who helped solve some of the world’s most critical challenges.

Gates' net worth, currently pegged at $168 billion by Bloomberg, has long been destined for charity. Now, that commitment has a clear expiration date. Since its launch in 2000, the Gates Foundation has allocated more than $100 billion toward fighting global issues, and Gates now projects an additional $200 billion in giving over the next two decades, depending on market conditions and inflation rates.

The foundation’s mission moving forward includes eliminating diseases like polio and malaria, reducing maternal and infant mortality, and enhancing education and agriculture across African nations. Gates intends to increase the foundation’s yearly disbursements to $9 billion, from the current $6 billion, to meet these ambitious objectives. However, he noted that success is contingent on international cooperation and strong governmental support.

With many governments cutting foreign aid, Gates expressed concern about the widening funding gap. He stressed that even a foundation of his size cannot replace the significant contributions traditionally made by national governments. He urged world leaders to maintain their support for the most impoverished populations, warning that philanthropy alone cannot shoulder the burden.

Gates credited his philanthropic values to the influence of his late mother, Mary, who believed in giving back as a duty. His father, Bill Gates Sr., also helped guide the foundation until his death in 2020. Another major influence has been Warren Buffett, who has given away tens of billions and co-founded the Giving Pledge alongside Gates and Melinda French Gates in 2010.

Gates has also drawn deep inspiration from Andrew Carnegie’s famous essay The Gospel of Wealth, which argues that wealthy individuals have a moral responsibility to use their riches for the public good. Gates said he often reflects on Carnegie’s quote: “The man who dies thus rich dies disgraced.” That philosophy pushed him to hasten his own philanthropic timeline.

Looking ahead, Gates remains optimistic that the world will improve, bolstered by progress in technology, artificial intelligence, and global health. Still, he made clear that even if optimism fades, his purpose remains. “Even if I weren’t hopeful, hoarding wealth isn’t the answer,” he wrote. “This money should serve the world — not sit idle.”