Bill Gates Foundation to close on this date; one of the world's richest people to give away all his fortune, here's who will get the money
Bill Gates intends to donate most of his wealth. He aims to close the Gates Foundation by 2045. The foundation will focus on global health and poverty. Gates wants to address urgent problems. He plans to reduce his net worth significantly. The foundation will work on preventing deaths and eradicating diseases. Gates' decision reflects his commitment to philanthropy.
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The Reason For Bill Gates' Decision
Gates Foundation's Focus Areas for the Next 20 Years
Bill Gates' Net Worth Will Fall By 99%
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Microsoft co-founder Bill Gates has planned to give way 'virtually all' of his wealth, which is estimated to be about $200 billion, within the next 20 years, before he shuts down the Gates Foundation on December 31, 2045, as per CNN.His decision comes after US president Donald Trump's administration started to cut funding for health, foreign aid and other public assistance programs, according to the report. While, these are the issues that the Gates Foundation supports, which was founded by Bill and Melinda French Gates in 2000, as per CNN.He said, '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,' as quoted in the report. The 70-year-old also mentioned, 'There are too many urgent problems to solve for me to hold onto resources that could be used to help people,' quoted CNN.According to CNN, in the next 20 years, the Gates Foundation aims to focus on three main goals, which are; ending preventable deaths of moms and babies, eradicating deadly infectious diseases and lifting hundreds of millions of people around the world out of poverty.Gates also shared that his net worth would drop 99% by 2045 due to his plan of donating $200 billion via the foundation over the next two decades from its existing $77 billion endowment and his personal wealth, including any earnings from ongoing business investments such as TerraPower, the nuclear power company he founded, reported CNN.His current net worth is $108 billion and Bloomberg's Billionaires Index has ranked Gates to be the fifth wealthiest person in the world, as per CNN.The Gates Foundation will shut down on December 31, 2045, as per CNN.Gates wants to ensure that his wealth is used to address urgent global challenges like health, poverty, and disease, as per the report.
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