Bill Gates Plans to Distribute $200 Billion in Wealth by 2045

When Bill and Melinda Gates established the Gates Foundation in 2000, their vision was for the organization to operate for decades after their passing, utilizing the rest of their fortune. However, Microsoft’s co-founder, Bill Gates, has now decided he doesn’t want to wait that long to donate most of his wealth.

On Thursday, Gates revealed his intention to distribute “virtually all” of his estimated $200 billion net worth within the next 20 years, aiming to conclude the foundation’s work by December 31, 2045.

This announcement arrives amid the Trump administration’s efforts to cut funding for health, foreign aid, and other public support programs—the very causes championed by the Gates Foundation. Concerns are growing about the potential halt in the progress of pivotal research and projects.

Gates expressed a desire to fast-track the foundation’s initiatives on global health and equity, hoping this decision would inspire similar actions from other billionaires, as he stated in a Thursday blog post. This follows Gates’ longstanding advocacy for philanthropy, which includes co-founding the Giving Pledge in 2010 with former wife Melinda French Gates and Warren Buffett. This initiative encourages affluent individuals to devote much of their wealth to charitable endeavors during their lives or as a legacy, currently boasting over 240 pledgers.

“At my death, there will be many opinions about me,” Gates, approaching 70, wrote. “But being known as someone who ‘died rich’ isn’t one I want. There are pressing global issues that need resources that I can provide.”

Having already dispensed more than $100 billion since its inception, the Gates Foundation stands as one of the world’s most impactful philanthropies, pioneering vaccines, diagnostic solutions, and treatment strategies to combat diseases globally. Recently, Gates has been accelerating his giving, especially post-pandemic, but Thursday’s declaration marks a significant increase in the pace of his wealth distribution. It’s been termed the “largest philanthropic commitment in modern history” by the foundation.

Over the coming two decades, the Gates Foundation intends to zero in on three primary objectives: reducing preventable maternal and child deaths, eliminating deadly infectious diseases, and uplifting hundreds of millions from poverty worldwide.

In its statement, the foundation voiced concern over stagnant global health trends and, in a Financial Times interview on Thursday, Gates accused fellow billionaire Elon Musk of “endangering the world’s poorest children” due to his involvement with cutting U.S. international aid.

Nevertheless, Gates remained hopeful in his blog post, suggesting that advancements in artificial intelligence could, along with his contributions, accelerate progress.

Currently, Gates’ net worth stands at $108 billion, making him the fifth wealthiest person globally according to Bloomberg’s Billionaires Index. He expects his net worth to decrease by 99% by 2045. The planned $200 billion donation will be drawn from the foundation’s current $77 billion endowment alongside his personal wealth and ongoing business profits like those from TerraPower, his nuclear energy company.

Following the couple’s 2021 divorce, Melinda French Gates left the Gates Foundation last year and stated in 2022 that she plans to manage the majority of her philanthropy separately.

This announcement closely follows Microsoft’s recent commemoration of its 50th anniversary, which Gates founded, now valued over $3 trillion. “Committing to give back the wealth from Microsoft feels like the right way to celebrate the milestone,” he wrote.