Billionaire Bill Gates, Microsoft's founder, announces plans to give away 99% of his fortune and wind down the Gates Foundation by the end of this year.
Headline: Bill Gates Accelerates Gates Foundation's Closure, Pledges $107 Billion to Global Health and Education
Author: Sagar Malik
Published: May 11, 2025, 11:47 AM IST
Billionaire philanthropist, Bill Gates, has announced that he will donate an estimated $107 billion from his tech fortune to the Gates Foundation, which will now close in 2045—two decades earlier than previously planned. This pledge, outpacing the historic contributions of industrialists like John D. Rockefeller and Andrew Carnegie when adjusted for inflation, is among the largest philanthropic gifts ever, with only Berkshire Hathaway investor Warren Buffett’s pledged fortune—currently estimated at $160 billion—potentially surpassing it depending on stock market fluctuations.
The donation will be delivered over time, allowing the foundation to spend an additional $200 billion over the next two decades. As of now, the foundation already has an endowment of $77 billion, built from donations from Gates, Melinda French Gates, and Buffett. According to Gates, "It's kind of thrilling to have that much to be able to put into these causes."
His announcement signals both a promise of sustained support to global health and education initiatives in the U.S., and an eventual end to the foundation's immense worldwide influence. Gates believes that spending down his fortune will help save and improve many lives while having positive ripple effects beyond the foundation's closure in 2045. It also makes it more likely that his intentions are honored, as he stated, "I think 20 years is the right balance between giving as much as we can to make progress on these things and giving people a lot of notice that now this money will be gone."
The nonprofit organization, which was founded by Bill Gates and Melinda French Gates in 2000, plays a significant role in shaping global health policy and has carved out a special niche by partnering with companies to drive down the cost of medical treatments, making them affordable for low- and middle-income countries. The foundation's influence on global health—from the World Health Organization to research agendas—is both a measure of its success and a magnet for criticism. Critics often question why a wealthy family should have so much sway over how the world improves people's health and responds to crises.
Despite the ongoing criticisms, Gates considers the foundation's work as his second and final career, stating, "The foundation work has been way more impactful than I expected."
The decision to close the foundation after 20 years signals both a shift in foundation philanthropy norms and a significant change in global health and education funding landscape. Philanthropy expert Rhodri Davies opinionates that this announcement seems like yet more evidence that norms in foundation philanthropy might be shifting away from a default of perpetuity.
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The Gates Foundation has long been peerless among foundations, attracting supporters and detractors alike. This donation will accelerate the foundation's progress in achieving its major ambitions—eradicating polio, controlling other deadly diseases, reducing malnutrition, and more. Despite these ongoing challenges, the Gates Foundation remains optimistic about its potential to make a lasting impact.
(This story has not been edited by DNA staff and is published from AP/PTI).
Tags: Bill Gates, Gates Foundation, billionaires, Warren Buffett, philanthropy, Melinda Gates, Elon Musk, Business.
- Bill Gates, one of India's billionaire philanthropists, has pledged $107 billion to renew global health and education efforts through the Gates Foundation, a move likely to reshape business and personal finance trends.
- The Gates Foundation, with a current endowment of $77 billion, is expected to scatter its wealth across various initiatives, leveraging investing in wealth-management and business for a more significant impact.
- In a career spanning several decades, Gates considers the work of the Gates Foundation, his second and final one, as more impactful than he had initially anticipated.
- As the Gates Foundation prepares for closure in 2045, it is likely that its influence on India's Bollywood industry, through investments in healthcare and education, will also be diminished.
- With this pledge, Gates has set an unprecedented example in the realm of philanthropy, likely encouraging other billionaires to follow suit in investing in causes that matter, such as personal finance and global health.
- Similar to how the Gates Foundation has revolutionized healthcare, its influence on education and personal finance could likely contribute to significant strides in reducing poverty and improving wealth management in India and beyond.