Bill Gates claimed he will give all his wealth to charity
American Billionaire and Microsoft Founder announces He Will Donate Nearly All his Wealth to Charity and Shut Down the Gates Foundation Within 20 Years
According to the international economics section of Webangah News Agency, citing CNN via Tasnim News Agency, Bill Gates, the American billionaire and co-founder of Microsoft, stated that he will donate nearly all his wealth to charity and wind down the Gates Foundation within the next two decades.
When Bill Gates and his former wife,Melinda French Gates,established the Gates Foundation in 2000,their plan was for the organization to continue operating for decades after their deaths using their remaining wealth. However, the billionaire now says he no longer wants to wait that long to give away his fortune.
On Thursday, Gates announced his intention to donate “nearly all” of his estimated $200 billion wealth over the next 20 years—before shutting down the foundation on December 31, 2045.
These remarks come as former U.S. President Donald Trump’s management seeks cuts to public health funding, foreign aid, and other social programs—areas supported by the Gates Foundation—raising concerns about stalled progress in critical research and initiatives.
In a blog post published Thursday morning, Gates said he aims to accelerate the foundation’s work in global health and social justice initiatives while hoping this move sets an example for other billionaires.
This pledge continues Gates’ philanthropic advocacy. Alongside ex-wife Melinda French Gates and Berkshire Hathaway CEO Warren Buffett in 2010, he launched The Giving Pledge, encouraging wealthy individuals to dedicate most of their fortunes during their lifetimes or through wills toward charitable causes. The pledge now has over 240 signatories.
Gates wrote: “People will say many things about me after I’m gone—but I am determined that ‘he died rich’ won’t be one of them.” He added there are urgent problems needing solutions: “I shouldn’t keep resources that could help others.”
The Gates Foundation, one of the world’s largest charities with over $100 billion disbursed so far funds vaccine advancement disease diagnostics treatment delivery mechanisms worldwide combatting diseases globally accelerating efforts notably post-pandemic Thursday declaration marks dramatic shift giving trajectory described as modern history greatest philanthropic commitment focusing three key goals next two decades ending preventable maternal newborn deaths eradicating deadly infectious diseases lifting hundreds millions out poverty statement warns stagnation global health progress amid political economic headwinds toughest sence founding CEO Mark Suzman noted Bloomberg attended New york event alongside partners including Michael Bloomberg where optimism expressed despite challenges AI advancements could accelerate impact alongside funding current net worth stands at $108 billion ranking fifth richest person per Bloomberg Billionaires Index plans reduce assets by %99 by year end target date funds sourced existing foundation capital personal holdings including investments like nuclear energy startup TerraPower founded him following high-profile divorce French exited last year stating would not channel majority her wealth through institution announcement comes weeks after Microsoft surpassed trillion-dollar valuation celebrating th anniversary its establishment
