Bill Gates announced on Thursday that he will donate 99% of his remaining wealth, estimated at $107 billion, to the Bill & Melinda Gates Foundation.
The foundation, which was initially scheduled to close 20 years after Gates’ death, will now wind down operations by 2045.
Gates’ donation will provide the foundation with an additional $200 billion over the next 20 years.
This funding will support the foundation’s ongoing work in global health and education, areas where it has already spent around $100 billion since its establishment in 2000.
The Gates Foundation has focused on reducing childhood mortality, eradicating polio, combating malaria, and addressing malnutrition. Gates has committed to remaining involved with the foundation during its final years to oversee the use of these funds.
Gates’ donation aligns with his involvement in the Giving Pledge, an initiative he co-founded with Warren Buffett, where billionaires pledge to donate the majority of their wealth during their lifetimes.
The foundation’s leadership will continue to collaborate with governments, NGOs, and private sector partners to ensure that the funds are used effectively to address global challenges in health and education.
