By Jemimah Wellington, JKNewsMedia Reporter
MICROSOFT CO-founder Bill Gates will dissolve the Bill & Melinda Gates Foundation by 31 December 2045, bringing forward the end of one of the world’s largest philanthropic institutions.
The decision marks a significant acceleration in Gates’ lifetime giving, as he pledges to divest 99% of his personal wealth—currently estimated at over $110 billion—within the next two decades.
The foundation, which has already distributed more than $100 billion since its establishment in 2000, now aims to double that figure by the time it ceases operations.
According to the organisation, $200 billion will be spent tackling major global crises, including infectious diseases, maternal and child mortality, and extreme poverty.
“There are too many urgent problems to solve for me to hold onto resources that could be used to help people,” Gates said in a personal statement, adding, “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.”
Originally designed to operate for at least 20 years beyond the deaths of both Gates and Melinda French Gates, the foundation’s timeline was shortened after what Gates described as a period of re-evaluation.
Concluding that its objectives could be met sooner by doubling down on investments, he opted to concentrate efforts within his lifetime.
The revised strategy reflects a broader shift among ultra-wealthy donors towards high-impact, time-bound philanthropy—prioritising urgent need over legacy.
The foundation’s annual budget, already one of the largest among global charities, is set to reach $9 billion by 2026.
Much of that spending will be directed toward three core goals: preventing avoidable deaths among mothers and children, eliminating diseases like polio, malaria, and measles, and reducing poverty on a mass scale.
Since its inception, the Gates Foundation has shaped global health and development funding, backing institutions such as the Global Fund and Gavi, the Vaccine Alliance. Its influence, however, has attracted scrutiny, with critics accusing it of exercising disproportionate power over global health policy.
In 2006, investor Warren Buffett joined as a trustee, contributing roughly $36 billion to the foundation. Both he and Melinda French Gates have since stepped away—Buffett in 2022, and French Gates in 2024 to pursue her own philanthropic goals.
Current CEO Mark Suzman has voiced concern over declining government aid in the wake of COVID-19 and ongoing geopolitical instability. In recent letters, he urged wealthy nations to restore their commitments to international development.
Gates cited Andrew Carnegie’s 1889 essay The Gospel of Wealth as a key influence on his decision. Carnegie wrote: “The man who dies thus rich dies disgraced,” a sentiment Gates echoed as he explained his ambition to deploy his fortune in service of urgent global needs.
Despite his philanthropic legacy, Gates has not shied away from criticism of others. In an interview with the Financial Times, he pointedly accused Tesla CEO Elon Musk of bearing responsibility for harm caused by US foreign aid cuts under Musk’s government advisory role.
Gates claimed the dismantling of grants to HIV clinics in Mozambique led to preventable infections, following false claims about misuse of aid in Gaza.
The remarks sparked controversy, with Gates challenging Musk to face the consequences of such policies: “I’d love for him to meet the children now infected with HIV because he cut that money.”
By closing the Gates Foundation in 2045, Bill Gates notes that he is placing a finite horizon on his philanthropic mission.
Though the foundation will disappear, its ambition to eradicate suffering on a global scale remains fixed—fuelled by a belief that wealth, when hoarded, holds less value than when spent saving lives, he reiterated.
