In a significant move, Microsoft co-founder Bill Gates has announced plans to donate 99% of his estimated $108 billion fortune by 2045. This decision accelerates his philanthropic efforts through the Bill & Melinda Gates Foundation, which is now set to conclude its operations by the end of that year.
“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 in a recent blog post.
Since its inception in 2000, the Gates Foundation has donated over $100 billion to global health and development initiatives. Over the next two decades, it plans to double this amount, allocating more than $200 billion to address pressing global challenges, including poverty, malnutrition, and infectious diseases such as polio and HIV.
The foundation’s endowment, bolstered by contributions from philanthropists like Warren Buffett, stood at $77.2 billion as of 2023.
Gates emphasized the urgency of addressing global issues, particularly in light of recent reductions in international aid by wealthy nations. He expressed concern that such cuts threaten progress in areas like child mortality and disease control.
“There are too many urgent problems to solve for me to hold onto resources that could be used to help people,” Gates stated.
Gates’s commitment aligns with the philosophy of Andrew Carnegie, who believed that dying wealthy is a disgrace. By accelerating his giving, Gates aims to inspire other billionaires to contribute more significantly to global causes.
“I hope this serves as an example for others to step up and do their part in making the world a better place,” Gates remarked.
As the Gates Foundation embarks on this intensified philanthropic journey, its impact on global health, education, and poverty alleviation is poised to be profound.
