Monaco Times

Sustainability, Heritage, Exclusivity.
Saturday, May 10, 2025

Bill Gates Announces Plan to Wind Down Philanthropic Foundation and Disperse Wealth

The billionaire aims to distribute nearly all of his fortune over the next two decades, while addressing global issues.
In a recent public announcement, Bill Gates, co-founder of Microsoft and prominent philanthropist, revealed plans to close the Gates Foundation by December 31, 2045, and to give away nearly all of his personal wealth over the next 20 years.

Gates, who is currently estimated to have a net worth of $168 billion, expressed his determination not to be remembered as someone who died wealthy.

He stated, "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," reflecting his commitment to addressing pressing global challenges.

Since its establishment in 2000, the Gates Foundation has contributed over $100 billion to various global causes, focusing on eradicating diseases, alleviating poverty, combating climate change, and improving access to healthcare and education.

Gates has set an ambitious goal of doubling the foundation's total contributions to $300 billion by 2045, contingent on factors such as inflation and market performance.

He plans to increase the foundation's annual budget from $6 billion to $9 billion.

Gates outlined specific objectives for the next two decades, which include reducing maternal and child mortality from preventable causes, eradicating diseases such as polio and malaria, and funding educational and agricultural initiatives in Africa aimed at lifting millions out of poverty.

However, he acknowledged the crucial role of government partnerships in achieving these goals, noting a concerning trend of significant reductions in global aid budgets, particularly in the United States.

Gates remarked, "No philanthropic organization — even one the size of the Gates Foundation — can make up the gulf in funding that’s emerging right now."



Reflecting on his philanthropic philosophy, Gates cited the influence of his late mother, who believed that substantial wealth comes with a responsibility to give back, and his late father, who co-chaired the Gates Foundation until his passing in 2020.

Gates also acknowledged the impact of fellow billionaire Warren Buffett, who is known for his extensive charitable contributions and has encouraged his family to give away the majority of their wealth.

Together, they co-founded the Giving Pledge in 2010, which has been signed by over 240 billionaires, committing them to donate the majority of their fortunes during their lifetimes.

Gates referred to Andrew Carnegie's 1889 essay "The Gospel of Wealth," highlighting the notion that "the man who dies thus rich dies disgraced," a sentiment that has motivated his philanthropic efforts.

He expressed hope that other wealthy individuals might accelerate their charitable contributions, recognizing the profound impact such actions can have on alleviating global poverty.

Despite acknowledging challenges ahead, Gates voiced optimism regarding future global conditions, particularly due to advances in technology and healthcare.

He pointed to the rapid scaling of artificial intelligence as a potential catalyst for positive change.

He stated, "I think it’s objective to say to you that things will be better in the next 20 years," while affirming his commitment to philanthropy regardless of his outlook.

Gates emphasized the importance of utilizing wealth to benefit society rather than seeking personal indulgences.
Newsletter

Related Articles

0:00
0:00
Close
Bill Gates Announces Plan to Wind Down Philanthropic Foundation and Disperse Wealth
Historic Papal Conclave Set to Commence in Rome
Warren Buffett to Step Down as Berkshire CEO After Nearly 60 Years
Trump Shares AI-Generated Image of Himself as… Pope, Prompting Outrage Reaction
Prince Harry: “I Want Reconciliation with My Family”
Germany's Alternative für Deutschland (AfD) party has now been officially labeled “right-wing extremist” by the federal office for the so-called “protection of the constitution.”
Amazon Launches Satellite Internet Service Amidst Competition with SpaceX
U.S. Economy Shrink in Trump’s First Quarter as Tariff Policy Raises Questions
World Leaders Gather in Rome for Pope Francis's Funeral
Not Child’s Play: How Competitive Gaming Became a Global Economic Empire
Pope Francis: head of the Catholic church who pushed for social and economic justice
Cultural Battles in the Vatican: The Candidates in the Battle for the Holy See and Pope Francis's Testament
Alisha Lehmann's Modeling Campaign and Public Controversy Stir Debate Ahead of UEFA Women's Euro
U.S. Firms with Major International Revenue Exposure Following New Tariffs
President Trump Calls on the Federal Reserve to Reduce Interest Rates in Light of New Tariffs
British comedian Russell Brand has been charged with rape and several counts of sexual assault.
Kanye West Acknowledges in New Song That His Wife Bianca Censori Has Departed from Him.
Actor Jean-Claude Van Damme Accused of Having Sex with Human Trafficking Victims
French Foreign Ministry Dismisses U.S. Intervention in Corporate Inclusion Initiatives
This is what we refer to as CREATIVITY.
Former FIFA President and French football icon exonerated of corruption allegations.
Pope Francis Released from Hospital Following Pneumonia Treatment
Pope Francis Appears Publicly for the First Time in Five Weeks After His Hospital Stay
Istanbul's Mayor Ekrem Imamoglu Imprisoned on Corruption Allegations During Political Unrest
Pope Francis Set to Leave Hospital Following Pneumonia Recovery
European Union Moves Toward Joint Debt for Military Spending
France Takes a Strong Stance Against Potential US Tariffs on Alcoholic Drinks
Donatella Versace to Depart as Creative Director Following Almost 30 Years.
French Prime Minister Bayrou Affirms Position Against US Tariff Threats
EU and Canada Unveil Counter Tariffs in Response to U.S. Steel and Aluminum Tariffs
Pope Francis Displays Signs of Recovery, Yet Remains in the Hospital
Leak of Radioactive Coolant from Europe’s Largest Nuclear Power Plant Reported
Russian Teacher Under Investigation After Explicit Content Incident in Classroom
Poland Plans Comprehensive Military Training for All Adult Males Amid Enhanced Defense Initiatives
Pope Francis Shows Appreciation Despite Ongoing Health Struggles.
Macron Cautions Against Escalating Russian Hostility as U.S. Support for Ukraine Changes
EU Member States Endorse Gradual Rollout of Entry/Exit System
Europe Considers Using Frozen Russian Assets to Aid Ukraine
Macron Calls on Europe to Enhance Defense in Light of Russian Threats and Possible U.S. Withdrawal.
Pope Francis's Health Status: Vatican Reports Stable Condition
U.S. Creates Strategic Cryptocurrency Reserve, Triggering Market Upsurge
Zelenskyy Convenes with UK Prime Minister Starmer Amid Strained Relations with the US
Here, unelected President Zelensky meets with two top American democratically elected officials who are neither stupid, nor bribed, nor blind
Pope Francis Admitted to Hospital with Pneumonia Faces Breathing Difficulty
Katy Perry to Become Part of All-Female Crew on Blue Origin Mission
Trump Announces 25% Tariffs on European Imports, Citing Unfair Trade Practices
Pope Francis has reportedly shown minor signs of improvement during his hospitalization.
Japanese Police Academies Implement Makeup Instruction for Male Cadets
Germany Gears Up for Crucial Election in Times of Political Turmoil
Pope Francis Admitted to Hospital in Rome Amid Rising Speculation on Succession
×