Bill Gates Accelerates Philanthropy, Plans to Close Foundation by 2045
In a striking escalation of his philanthropic legacy, Bill Gates has announced plans to give away 99% of his estimated $107 billion fortune and shut down the Bill & Melinda Gates Foundation by December 31, 2045.
The move redefines the timeline for one of the world’s most influential charitable organizations. Compressing what was once envisioned as a multi-generational endeavor into a focused two-decade sprint.
A New Countdown Begins
Gates, now 69, laid out an aggressive new roadmap for the foundation, which he co-founded in 2000 with then-wife Melinda French Gates. Starting immediately, the foundation’s annual budget will ramp up from $6 billion to $9 billion by 2026. A 50% increase aimed at intensifying efforts in global health, education, and poverty reduction. By its closure in 2045, the foundation is projected to have spent over $200 billion in total.
“I have an obligation to return my resources to society in ways that have the greatest impact,” Gates wrote in a personal essay accompanying the announcement. “It’s time to accelerate that process.”
Response to Global Health Funding Cuts
In recent months, the Trump administration, via Elon Musk’s Department of Government Efficiency (DOGE)— has gutted over 90% of the U.S. Agency for International Development’s (USAID) programming and renewed the country’s withdrawal from the World Health Organization.
“These cuts are devastating,” Gates said. “Lives are at stake. We cannot allow political shifts to undo decades of hard-won progress.”
The rise in funding is widely seen as an effort to fill the void left by Washington’s retreat.
Legacy and Global Impact
The Gates Foundation has deployed more than $100 billion to improve outcomes in global health, education, and agriculture. It has been instrumental in the creation of Gavi, the Vaccine Alliance, and the Global Fund to Fight AIDS, Tuberculosis and Malaria.
Its influence has also shaped vaccine delivery systems, pandemic preparedness strategies, and educational access in underserved communities. Even its fiercest critics acknowledge the scale and seriousness of its impact.
“The problems we face are too pressing to be stretched across generations,” Gates wrote. “The time to act is now.”
The Road Ahead for Global Philanthropy
As major governments scale back foreign aid and international cooperation frays, the burden of progress may increasingly fall on private donors and NGOs.
By setting a sunset date, Gates is making a bet that bold, time-bound commitments can do more than perpetuate a legacy: they can move the needle now.
And in a world where the stakes are rising, that may be the most powerful legacy of all.