Bill Gates vows to give away 99 per cent of his fortune by 2045
That target would represent a doubling in spending for the nonprofit, which has disbursed more than $US100 billion since it was co-founded by Bill Gates and Melinda French Gates in 2000. Originally, the foundation was set to close 20 years after the Microsoft co-founder's death.
'I have decided to give my money back to society much faster than I had originally planned,' Gates, 69, wrote in a statement. 'I will give away virtually all my wealth through the Gates Foundation over the next 20 years to the cause of saving and improving lives around the world.'
Foundation Chief Executive Officer Mark Suzman said in a call with reporters that the giving will equate to roughly 99 per cent of Gates' remaining fortune.
Gates is the fifth-richest person in the world with a net worth $US168 billion, according to the Bloomberg Billionaires Index. He and French Gates have given $US60.2 billion to the foundation from its inception through 2024.
The foundation distributes billions of dollars a year to causes around the world — mainly health, global development and education. In its statement on Thursday, it said it has helped save 82 million lives through its efforts to increase access to vaccines in low-income countries and its global funding to fight AIDS, tuberculosis and malaria.
'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.'
Bill Gates
In its remaining 20 years, the foundation, which employs more than 2000 people, will focus on ending preventable childbirth deaths, eliminating deadly infectious diseases and lifting people out of poverty, according to the statement.
On a call with reporters on Thursday morning, Suzman also said the foundation will work to improve education in the US and address climate change-related issues, including developing crops with drought resistance.
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