Microsoft co-founder Bill Gates has announced that he plans to donate his entire fortune—estimated at over $160 billion—to philanthropic causes by December 31, 2045, effectively accelerating his long-standing commitment to global development.
Originally, the Bill & Melinda Gates Foundation, launched in 2000, was designed to function well beyond Gates’ lifetime. However, in a personal blog post, Gates stated he no longer wishes to wait that long, citing the urgency of global challenges that demand immediate attention.
“There are many problems in the world that require urgent solutions. I want to use all my resources to help people now. After I’m gone, people may say many things about me—but I’m determined they won’t say, ‘A billionaire died without helping,’” Gates wrote.
His new pledge comes at a time when public aid programs—such as health and foreign assistance—face budget cuts under U.S. political leadership. The Gates Foundation works in several of those targeted sectors.
To date, the foundation has disbursed over $100 billion to various global health and education projects.
Gates pledged to donate 99% of his wealth, including all future income, to the Foundation.
Gates also hopes that this bold move will serve as an example for other billionaires around the world to follow.
