In 2045, Bill Gates will disband the Gates Foundation after donating 99 percent of his wealth
Bill Gates, the co-founder of Microsoft, said he intends to donate almost all of his remaining wealth, and he announced Thursday that his Gates Foundation will close in 2045, expediting the philanthropic organization’s closure plans by decades.
Established in 2000, the Gates Foundation has announced a promise to spend $200 billion over the next 20 years and will «end operations» on December 31, 2045.
In a statement, Gates stated that his net worth, which Forbes estimates to be close to $113 billion, would «fall by 99%» and that he would «give away virtually all of my wealth» through the Gates Foundation until its closing date.
Over the foundation’s next 20 years, Gates said he hopes to abolish diseases like polio, malaria, and measles, prevent mothers, newborns, and children from dying from avoidable causes, and lessen poverty.
Earlier this year, the Gates Foundation revealed what it dubbed its highest yearly budget, estimating that $9 billion in spending funds will be available by 2026.
