Bill Gates

Billionaire philanthropist and Microsoft co-founder Bill Gates has announced plans to donate 99 per cent of his estimated $200 billion fortune while also setting a date to shut down the Bill and Melinda Gates Foundation by December 31, 2045.

In a post on his personal blog, Gates Notes, on Thursday, the tech mogul said the move was aimed at accelerating efforts to tackle global challenges such as poverty, disease, and inequality.

“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,” Gates wrote.

He explained that while the foundation was originally designed to wind down several decades after his and Melinda’s deaths, that timeline has been revised.

“More recently, with input from our board, I now believe we can achieve the foundation’s goals on a shorter timeline,” he added.

Founded in 2000 with his former wife, Melinda French Gates, the Gates Foundation has disbursed more than $100 billion globally in areas such as healthcare, vaccine development, education, and emergency aid. Gates said the revised plan would see virtually all his wealth given away in the next 20 years, leaving just one per cent—roughly $1.6 billion—for himself and his family.

The chart shared in his blog outlines that the remaining funds may eventually go to his three adult children: Jennifer, Rory, and Phoebe Gates.

Gates, who acknowledged criticisms about his influence over global health spending, defended his decisions, saying, “Like any private citizen, I can choose how to spend the money I earn.”

The decision comes amid mixed public opinion over the power and accountability of mega-donors in shaping global policy. Nonetheless, Gates remains resolute: “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”