Bill Gates Pledges Remaining Fortune to Gates Foundation, Announces Closure in 20 Years

May 12, 2025 – Seattle, WA – In a landmark announcement, billionaire philanthropist Bill Gates has pledged to donate the remainder of his vast personal fortune to the Bill & Melinda Gates Foundation, with plans for the foundation to spend down all its resources and close within the next 20 years.

The decision marks a pivotal moment in the history of modern philanthropy. Gates, co-founder of Microsoft and one of the world’s wealthiest individuals, said in a statement on Monday that he wants to ensure his wealth is put to “maximum use during my lifetime and shortly after.” The foundation, already one of the largest and most influential charitable organizations globally, will now focus on making “the biggest possible impact in global health, education, and poverty alleviation over the next two decades.”

“I have always believed that money should serve a purpose beyond individual wealth,” Gates stated. “By committing everything to the Foundation and setting a time limit, we aim to be bolder, faster, and more focused in tackling humanity’s toughest challenges.”

Founded in 2000 by Gates and his then-wife Melinda French Gates, the Gates Foundation has invested over $75 billion in causes ranging from eradicating diseases like polio and malaria to improving access to vaccines, education, and sanitation in low-income countries.

The decision to spend down and sunset the foundation follows a growing trend among philanthropists seeking to avoid perpetuating massive wealth-based institutions indefinitely. Gates emphasized that a fixed timeline will “drive urgency and accountability” and prevent bureaucratic stagnation.

Melinda French Gates, who remains a co-chair, expressed support for the decision. “This allows us to make courageous bets—backing science, innovation, and human ingenuity—without being constrained by the need to preserve our endowment forever.”

While Gates did not specify the exact value of his remaining fortune, it is estimated to exceed $100 billion, most of which will now be transferred to the foundation. Analysts project this move will more than double the foundation’s current endowment, enabling it to ramp up efforts on vaccine development, climate resilience, and gender equality.

Philanthropy experts hailed the move as both bold and unprecedented. “Bill Gates has just set a new bar for what responsible billionaire philanthropy can look like,” said Darren Walker, president of the Ford Foundation. “A 20-year wind-down forces smart decisions, urgency, and clarity.”

The Foundation’s leadership said strategic planning for the sunset phase has already begun, with a focus on creating long-term partnerships and ensuring sustainable outcomes after its closure.

With this final act of giving, Gates joins a small but growing group of ultra-wealthy individuals who view their fortunes not as legacies to be guarded, but as tools to solve urgent global problems—within their own lifetimes.