Kaylah Walton
Bill Gates, the billionaire co-founder of Microsoft, has announced a remarkable plan to donate 99% of his wealth—estimated at around $200 billion—to the Gates Foundation. This decision signals a shift in the foundation’s timeline, as it will now end operations in 2045 instead of later.
In an exclusive talk with CBS Mornings, Gates revealed his intention to dedicate these funds to global initiatives in health, education, and quality of life improvements within the next two decades.
Gates expressed optimism about this financial commitment, believing it will lead to saving “tens of millions of lives” through enhanced initiatives over the next two decades.
He drew inspiration from Andrew Carnegie, particularly resonating with Carnegie’s belief that a rich man who dies wealthy is disgraced. Gates emphasized, “They will say many things about me when I die, but I am determined that ‘he died rich’ will not be one of them. There are too many urgent problems to solve for me to keep resources that could be used to help people,” in an open letter.
A Historic Philanthropic Commitment
This donation places Gates’ commitment among the largest in modern charitable history, exceeding the adjusted contributions of figures like John D. Rockefeller and Carnegie. Only Warren Buffett, who shares a philanthropic initiative with Gates called The Giving Pledge, has made a similarly significant pledge.
In a conversation with The Associated Press, Gates expressed enthusiasm about investing extensively in vital causes, aiming for a sustained global impact even after the Gates Foundation closes its doors. He noted, “I think 20 years is the right balance between giving as much as possible to advance these issues and giving people enough notice that this money will run out.”
The Gates Foundation will continue its impactful work during this transitional period, focusing on maximizing its contributions before its eventual closure.
