Billion-Dollar Farewell: Inside the Gates Foundation’s Bold Plan to Spend It All by 2045

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The philanthropic world is abuzz as the Gates Foundation, co-founded by Melinda French Gates and Bill Gates, announces it will permanently close its doors on December 31, 2045. Marking its 25th anniversary, the foundation’s decision signals a bold new chapter in global giving, with plans to spend down its entire $200 billion endowment over the next two decades.

Key Highlights

A Planned Budget Sunset: Bill Gates confirmed the foundation will wind down by 2045, speeding up its initial timeline to have the greatest possible impact in the current time instead of hoarding funds for eternity. This "bolus dose" strategy seeks to trigger dramatic change in world health, poverty, and education, with Gates committing to donate $billions virtually all of his wealth through the foundation over that time.
Melinda's Thoughts: In her musings, Melinda French Gates reiterated that the couple had always planned to spend down their wealth, the closing characterized as an evolution, not a sharp conclusion. She underscored the foundation's legacy to fight poverty, disease, and inequality, and was proud of the millions of lives enhanced through their efforts.
Historic Impact: In its history since its establishment in 2000, the Gates Foundation has donated more than $100 billion to under-resourced programs, significantly contributing to child mortality rates globally being halved and advancing world public health. The foundation intends to double its philanthropy and give another $200 billion by 2045.
A New Philanthropic Model: The shutdown establishes a precedent in mega-philanthropy, with an emphasis on action rather than endless existence. Both Gateses have reaffirmed their dedication to making every dollar count to move faster on humanity's most pressing challenges.

As the foundation looks ahead to its last two decades, Melinda French Gates and Bill Gates hope that their legacy will be tallied not in terms of wealth held, but by lives altered and opportunities made.

Sources: CBS News, Gates Foundation, New York Times, CNBC, Fortune, RBC Ukraine

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