photo courtesy of Getty Images
In a landmark decision that reshapes the landscape of global philanthropy, Bill Gates has announced his plan to donate virtually all of his estimated $200 billion fortune over the next two decades. This ambitious initiative will culminate in the closure of the Gates Foundation by December 31, 2045, marking a significant acceleration from its original timeline. (Houston Chronicle)
Since its inception 25 years ago, the Gates Foundation has disbursed over $100 billion, focusing on global health, education, and poverty alleviation. Gates now intends to double this amount, committing an additional $200 billion to address pressing global challenges. (Time)
This decision comes amid declining international aid contributions from major governments, including the U.S., U.K., and France. Gates has expressed concern over these reductions, emphasizing the urgency of private philanthropy to fill the void. (Reuters)
The foundation’s accelerated timeline reflects Gates’ belief that immediate action is necessary to combat issues such as infectious diseases, maternal and child mortality, and global poverty. By setting a definitive end date, the foundation aims to maximize its impact within a finite period. (Diario AS)
This move also aligns with Gates’ long-standing commitment to the Giving Pledge, a campaign encouraging billionaires to donate the majority of their wealth to philanthropic causes. By pledging to give away 99% of his fortune, Gates reinforces his dedication to this principle. (The Sun)
As the Gates Foundation embarks on its final two decades, its intensified efforts are expected to leave a lasting legacy in the fight against global inequities. The foundation’s closure will mark the end of an era, but its impact will resonate for generations to come.
