Gates Foundation to Close in 2045 After $200B Pledge

Bill Gates has pledged to donate 99% of his estimated $100+ billion fortune, with more than $200 billion to be spent through the Gates Foundation over the next 20 years, culminating in the foundation's closure by the end of 2045. This marks a major change from the original plan to sunset the foundation 20 years after the founders' deaths. The foundation, which has already distributed over $100 billion, will use its remaining years to focus on ending preventable deaths, fighting infectious diseases, and reducing poverty and inequity worldwide. Melinda French Gates, who left the foundation last year to pursue her own philanthropic work, stated the closure aligns with a longstanding plan to spend down resources. Warren Buffett and other major donors have also supported the foundation's efforts. Gates made the announcement amid declining government funding for global health, expressing hope that his actions will inspire greater philanthropy.