For over twenty years, the Bill & Melinda Gates Foundation has been one of the most influential philanthropic forces in the world — transforming lives through breakthroughs in global health, education, and poverty reduction. In a surprising move, Bill Gates announced plans to donate nearly all of his remaining $200 billion fortune over the next two decades. He also revealed that the Gates Foundation will permanently close by the end of 2045.

It’s the kind of radical, clear-cut move that few billionaires ever commit to. But for Gates, it’s about doing the most good, while there’s still time.

“I’ve always believed that if you are lucky enough to be in a position to help others, you should do it as soon as possible,” Gates wrote in a personal essay on GatesNotes. “So I’m speeding up the pace of my giving. I plan to donate virtually all of my wealth to the foundation — and then sunset it.”

But Why Close the Foundation?

Rather than continuing indefinitely, the foundation will focus on deploying every last dollar toward solving urgent problems — especially in health — within the next two decades. The idea is not just to do good, but to do it now, while every dollar will still make a difference in preventing needless suffering.

Since 2000, The Gates Foundation has disbursed over $100 billion working — with partners around the world to tackle massive challenges and improve people’s lives. They provide vaccinations to children, eradicate diseases, improve education, and reduce extreme poverty. But as Gates made clear, the need for action has never been more immediate — and the Republican Administration’s gutting of global aid has made private philanthropy even more critical.

With governments like the U.S. rolling back support for international development programs such as USAID, the future of millions — especially children in the world’s poorest countries — hangs in the balance.

“Some of the richest countries in the world are abandoning their commitments to global health,” Gates warned in a BBC interview. “We are at risk of seeing decades of progress undone.”

This urgency has led to a bold plan. Starting this year, the foundation will double its annual spending to $9 billion, eventually scaling to $10 billion a year. By the time it closes its doors, Gates aims to give away $200 billion — focusing heavily on eradicating diseases like polio and malaria, cutting maternal and child deaths, and strengthening healthcare systems.

The decision to shut down an organization that has shaped the modern philanthropic world is not one Gates took lightly. In an interview with The Chronicle of Philanthropy, he acknowledged the personal weight of the decision.

“It’s emotional,” he said. “But I’m convinced this is the right thing to do.”

Rather than building an empire that lasts forever, the Gates Foundation chose intentional impact over legacy — aiming to create enduring change, with the conviction that the world’s problems demand urgency, not permanence.

Melinda French Gates’ Response

Melinda French Gates, who co-founded the Gates Foundation and served as co-chair until stepping down in 2024, responded to the news with a mix of gratitude and forward-looking optimism. Though no longer involved in day-to-day operations, she said she remains deeply proud of what the foundation has accomplished.

“To me, the greatest measure of success would be if long after the foundation closed, someone, somewhere, was living a life that looked different because we existed,” she shared.

Melinda has since turned her focus to Pivotal Ventures, her independent philanthropic venture, which recently committed $12.5 billion to improving the lives of women and families. Her latest chapter builds on the values of the Gates Foundation to promote equity, empowerment, and impact — especially for underserved communities.

Via Pivotal Partners

Why This Moment Matters

Bill Gates’ decision is not a capricious gesture of generosity — it’s a call to action. He’s challenging the world’s wealthiest to reconsider the role of extreme wealth in a time of extreme inequality. He’s modeling what effective philanthropy can look like: targeted, accountable, and urgent.

It’s easy to be cynical about billionaires. And many critiques are justified. But when one of the richest men in history makes a firm commitment to depleting his fortune for the greater good, it’s worth paying attention.

As Gates put it, “The world is better today than it was 20 years ago. But it’s still far short of what’s possible. If we act now, we can save and improve millions of lives. That’s why I’m doing this.”

What’s Next?

The Foundation’s remaining years will likely be its most ambitious. But Gates hopes the foundation’s ending will spark a broader cultural shift — one where billionaires measure success not by what they accumulate, but by how much they give.

As the foundation works toward its 2045 sunset, the hope is that its effectiveness will long outlive the organization itself in the lives of the humans it enriches.

And maybe, just maybe, it will inspire a new generation of philanthropists to act boldly, give urgently, and believe that change is not only possible — but necessary.