Bill Gates pledges his remaining fortune to the Gates Foundation, which will close in 20 years

[BumRushDaShow]

Source: AP

Updated 8:03 AM EDT, May 8, 2025


SEATTLE (AP) — Bill Gates says he will donate 99% of his remaining tech fortune to the Gates Foundation, which will now close in 2045, earlier than previously planned. Today, that would be worth an estimated $107 billion.

The pledge is among the largest philanthropic gifts ever – outpacing the historic contributions of industrialists like John D. Rockefeller and Andrew Carnegie when adjusted for inflation. Only Berkshire Hathaway investor Warren Buffett’s pledge to donate his fortune — currently estimated by Forbes at $160 billion — may be larger depending on stock market fluctuations.

Gates’ donation will be delivered over time and allow the foundation to spend an additional $200 billion over the next 20 years. “It’s kind of thrilling to have that much to be able to put into these causes,” Gates said in an interview with The Associated Press. His announcement Thursday signals both a promise of sustained support to those causes, particularly global health and education in the U.S., and an eventual end to the foundation’s immense worldwide influence.

Gates says spending down his fortune will help save and improve many lives now, which will have positive ripple effects well beyond the foundation’s closure. It also makes it more likely that his intentions are honored. “I think 20 years is the right balance between giving as much as we can to make progress on these things and giving people a lot of notice that now this money will be gone,” Gates said.

Read more: https://apnews.com/article/bill-gates-foundation-996819a2c13c58f0c7c658a58374f236

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I remember awhile ago when he and Warren Buffett got together and of course, Buffet just did his "pass the torch" thing this past week.

Meanwhile selfish Muskrat is still doing a smash and grab on the American people.

As the saying goes - "You can't take it with you".

[bucolic_frolic]

1. So were operating systems overpriced over the last 40 years?

That's a lot of money.

Just in passing there was the side comment by someone, I think from Palantir but it might have been an analyst, that Palantir because of its technology in data and machine learning, may severely impact or even end the need for spreadsheet software, Excel in other words, a Microsoft product. Will everything in the world become automatic? The computers crunch and run society, we just ... sip mint julep and click our mice?

[twodogsbarking]

2. Thank you Mr. Gates.

[JohnnyRingo]

3. He said he was going to leave his kids a couple million in his will.

...saying that if they can't make their own way in the world with that, another billion wouldn't help.

Hey Walton family! This is what a heart looks like.

[LudwigPastorius]

6. He's giving away 99% of his wealth,...

after which, he’ll still be a billionaire.

That kind of shows just how insane we are to allow that kind of accumulation of money.

At least he’s putting it good use.

[milestogo]

4. He is a good man.

I wish the other billionaires would look at what he's doing and follow.

[groundloop]

5. That's a very good gesture..... HOWEVER -

If someone accumulates that much wealth they're charging too much for their product, not paying their employees enough, and most likely not paying their fair share of taxes (I'm looking at you Eloon).

In the case of SpaceX, my son is an aerospace engineer and says that it's pretty common knowledge throughout the industry that SpaceX underpays and expects people to work crazy long hours. They get away with it because of the "prestige" factor.

[maxsolomon]

7. I don't see why the Gates Foundation has to "wind down"

around the same time that Bill Gates will "wind down".

You'd think he could set up an endowment that would be self-perpetuating.

[BumRushDaShow]

9. It might be due to 2 things

1.) The terms could always be changed between now and then
2.) It encourages the managers to SPEND THE MONEY and not just sit on it to have it "make more money" while that money could be used to DO STUFF.

[republianmushroom]

8. Thank you, Bill.