In a landmark decision, the Bill & Melinda Gates Foundation announced it will shut down completely by 2045, pledging to donate $200 billion over the next 20 years. This represents a dramatic acceleration of its philanthropic efforts and a doubling of the $100 billion already disbursed since its founding in 2000.
Gates Accelerates Giving
Bill Gates, 69, said he is “giving back to society much faster” than originally planned. The foundation’s new roadmap will amount to roughly 99% of Gates’ remaining fortune, estimated at $168 billion. Originally, the nonprofit was set to close 20 years after Gates’ death.
Focus Areas for the Final Two Decades
The foundation will continue to concentrate on global health, ending preventable childbirth deaths, eliminating infectious diseases, and addressing poverty. It will also target improvements in U.S. education and develop climate-resilient crops. With over 2,000 employees, the organization claims to have already saved 82 million lives through increased vaccine access and funding to combat AIDS, tuberculosis, and malaria.
Challenges from Global Funding Cuts
The foundation’s intensified efforts come amid steep reductions in U.S. and UK foreign aid. Gates criticized the U.S. withdrawal of funds from agencies like WHO and USAID, attributing a rise in child mortality to these decisions. CEO Mark Suzman added that the foundation is pushing for renewed commitments, especially from the UK, which has cut global assistance by 40%.
Structural Overhaul Since Divorce
After Bill and Melinda French Gates divorced in 2021, the foundation underwent significant governance changes. Warren Buffett stepped down from the board, and external trustees—including Strive Masiyiwa and Minouche Shafik—were brought in for the first time. In 2022, Gates donated $20 billion more to the foundation, laying the groundwork for increasing annual donations to $10 billion by 2026.
Melinda Gates Charts Her Own Path
Last year, Melinda French Gates left the foundation with $12.5 billion to focus on her own venture, Pivotal Ventures. Her philanthropic work targets women’s empowerment, representation in politics, and family leave policy. Since 2015, Pivotal has supported over 150 organizations through a mix of grants and venture capital.
A New Model of Philanthropy
The announcement signals a shift in how billionaire philanthropy operates. Experts say the Gates Foundation remains a model for other philanthropists, despite growing calls for faster, more flexible giving. MacKenzie Scott, for example, has given $19.3 billion to more than 2,450 smaller nonprofits in just four years, often bypassing traditional bureaucratic processes.
Conclusion
With its 2045 sunset date and an unprecedented $200 billion commitment, the Gates Foundation is redefining the scale and timeline of philanthropic giving—potentially setting a new precedent for the world’s wealthiest donors.
