Bill Gates, the co-founder of Microsoft, met with Indonesian President Prabowo Subianto at Merdeka Palace in Jakarta, Indonesia on Wednesday, May 7, 2025. During this meeting, Gates announced a significant change in his philanthropic plans.
In 2000, Bill and Melinda French Gates established the Gates Foundation with the intention of continuing its work for many years after their passing, utilizing their wealth. However, Gates has now decided to expedite his giving process. He revealed that he intends to donate nearly all of his estimated $200 billion wealth within the next 20 years and will close the foundation by December 31, 2045.
This decision by Gates, one of the world’s wealthiest individuals, comes amidst concerns about funding cuts for crucial public assistance programs. The Gates Foundation has been a major contributor to global health and equity initiatives, and Gates hopes his actions will inspire other billionaires to follow suit.
Having already donated over $100 billion, the Gates Foundation plans to concentrate on goals such as ending preventable deaths, eradicating infectious diseases, and lifting millions out of poverty over the next two decades. Gates aims to address urgent global issues and make a lasting impact through his philanthropy efforts.
Despite criticism from some quarters, Gates remains optimistic about the potential impact of his giving combined with advancements in technology. He envisions a future where progress is accelerated through innovation and charitable contributions.
With a current net worth of $108 billion, Gates expects his wealth to significantly decrease by 2045 as he fulfills his commitment to give back to society. This philanthropic commitment is hailed as one of the largest in modern history, demonstrating Gates’ dedication to making a difference in the world.
After the high-profile divorce of French Gates and Bill Gates in 2021, French Gates left the Gates Foundation last year. She has stated in 2022 that she will not be contributing the majority of her wealth through the foundation. This decision follows Microsoft’s recent celebration of its 50th anniversary, now valued at over $3 trillion, which was founded by Gates. Gates expressed his intention to give away the resources he earned through the company to mark this milestone. For more news and newsletters from CNN, sign up at CNN.com.
