Gates Foundation Pledges $200 Billion Investment Until 2045 Closure
The Gates Foundation announced on Thursday its plan to allocate over $200 billion in the coming two decades. This move will intensify their focus on public health initiatives and conclude operations by 2045.
The new timetable means a change to the organization's charter, which planned for the foundation to sunset 20 years after the death of Bill Gates.
The change is fueled by both "urgency and opportunity," according to the foundation, as advancements in artificial intelligence enhance the possibilities for improving human well-being at a time when government assistance funding is being reduced.
"In the initial 25 years of the Gates Foundation — which has been partly fueled by the philanthropy of Warren Buffett — over $100 billion was distributed," stated Gates, aged 69, in a blog entry, citing the prominent American investor.
"In the coming twenty years, we aim to increase our contributions twofold," Gates penned.
The blog post included a graph illustrating that Gates’s wealth dropped by 99 percent over the following two decades. Currently, Gates ranks at number 13 on the Forbes real-time billionaires list, boasting a fortune of $112.6 billion.
Gates penned that people would speak many things about him after his death, yet he was resolute that 'he passed away wealthy' wouldn’t be among those statements.
I have too many critical issues to address to keep resources that could otherwise assist individuals.
In 2000, the Bill and Melinda Gates Foundation was established, coinciding with Bill Gates stepping down from his role as CEO at Microsoft. Three years following her separation from Bill Gates, Melinda French Gates left the foundation in 2024.
Gates highlighted advancements in initiating worldwide public health initiatives such as programs aimed at eradicating polio and the development of a novel rotavirus vaccine. This breakthrough has contributed to reducing child mortality rates due to diarrhea by 75 percent annually.
Gates stated in the blog, "Through speeding up our contributions, I aim to set the world on a course to eliminate avoidable fatalities among mothers and infants and help lift millions of individuals out of poverty."
Apart from the Gates Foundation, the former Microsoft head stated his intention to keep providing financial support for projects aimed at increasing access to affordable energy and advancing cutting-edge research into Alzheimer’s disease.
