In a blog post, Bill Gates said his foundation will spend over $200 billion in the two decades|European Union, 2025|CC BY 4.0
Bill Gates is ramping up his philanthropic efforts, announcing he will give away 99% of his estimated $108 billion net worth in the next 20 years and shut down the Gates Foundation by 2045.
In a Thursday blog post, Gates said the foundation will spend over $200 billion in the two decades, double what it has given since its founding in 2000 along with ex-wife Melinda French Gates (who left it in 2024).
The philanthropy’s efforts focused on poverty, malnutrition, polio and other vaccines, and women’s health. Gates says it will continue to focus on cutting the child mortality rate, eradicating diseases like malaria, and boosting graduation rates before closing its doors.
Gates acknowledged philanthropy alone can’t fill growing gaps in global public funding, especially as the US pulls back internationally.
In an interview with the Journal, Gates warned that cuts in US global aid could reverse progress in childhood deaths, and without action, it could rise from 5 million to 6 million over the next four years. He criticized fellow billionaire Elon Musk’s role in dismantling USAID.
Gates’s nonprofit had an endowment of $77.2 billion in 2024, including giveaways from Warren Buffett.
Looking ahead, Gates hopes AI can boost impact under tight budgets and aims to develop an affordable gene therapy cure for HIV. His announcement marks the winding down of one of the world’s largest private philanthropic institutions.
Experts note it also marks a shift, as newer foundations move away from tackling big problems like global poverty.