Bill Gates pledges to donate nearly entire fortune by 2045, targeting $200 billion for world’s poorest

Bill Gates, Co-Chair of the Bill & Melinda Gates Foundation attends the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. REUTERS/Hamad I Mohammed

PARIS, May 8 (Saudi Arabia Breaking News) – Microsoft co-founder and philanthropist Bill Gates announced on Thursday his plan to donate nearly all of his personal wealth by 2045, with approximately $200 billion expected to be spent through the Bill & Melinda Gates Foundation to support the world’s poorest populations.

Gates, 69, said the foundation will close on December 31, 2025, after 25 years of operation. The decision to accelerate the donation timeline comes amid global reductions in international aid budgets. Gates acknowledged the shifting landscape, noting that cuts from major donor governments including the United States, the United Kingdom, and France risk undermining global progress.

“There are too many urgent problems to solve for me to hold onto resources that could be used to help people,” Gates wrote in a statement on his website. “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 said the foundation would continue to support global health priorities such as polio eradication, maternal and child health, and the fight against diseases like malaria and measles. He emphasized that despite the foundation’s resources, meaningful progress requires sustained government involvement.

Since its establishment in 2000, the Gates Foundation has disbursed $100 billion in global aid, backing initiatives such as Gavi, the Vaccine Alliance, and the Global Fund to Fight AIDS, Tuberculosis and Malaria. The foundation is expected to spend nearly 99% of Gates’ personal fortune before closing, with the exact figure subject to market conditions and inflation.

Currently valued at approximately $108 billion, Gates said his foundation's annual budget will reach $9 billion by 2026. He also called on other wealthy individuals to increase the pace and scale of their giving.

The foundation has faced criticism over its influence in global health policy, including at the World Health Organization, and Gates himself has been a target of conspiracy theories, particularly during the COVID-19 pandemic.

Gates made the announcement on the foundation’s 25th anniversary, reflecting on his journey from building a software company with a school friend to becoming one of the most prominent philanthropists in the world.