Bill Gates has announced that he will donate 99% of his remaining tech fortune to the Gates Foundation. The foundation, which supports global health and education, is now expected to shut down by 2045 sooner than originally planned.
According to the Associated Press, Gates said speeding up the use of these funds will help make a bigger difference.
He believes that distributing his wealth sooner will save and improve more lives and help achieve his long-term goals.
Currently, Gates’ pledge is worth around $107 billion. Spread out over time, this donation will allow the foundation to invest about $200 billion over the next 20 years.
“I think 20 years is the right balance enough time to make a big impact and enough notice to prepare for the foundation’s end,” Gates said in an interview.
He added, “It’s exciting to be able to support these important causes with such a large amount of money.”
This donation is one of the largest charitable pledges ever made, even bigger than those of famous philanthropists like John D. Rockefeller and Andrew Carnegie when adjusted for inflation.
Only Warren Buffett’s pledge, valued at around $160 billion, could be larger, depending on the stock market.
Gates’ decision shows his strong commitment to improving global health and U.S. education. It also reflects a plan to eventually bring the foundation’s work to a close.
In September 2024, Gates announced a $2.8 billion investment to improve healthcare, nutrition, and farming in Nigeria. He also emphasized the importance of primary healthcare, saying that without good health in Nigeria, “there can be no opportunity.”
He noted that despite the country’s wealth, Nigeria spends only about N3,000 per person each year on basic healthcare something he believes needs to change.
