Is Bill Gates Shutting Down His Foundation? Here’s What We Know
Yes — and it’s not a rumor. Bill Gates, one of the world’s most generous philanthropists, just made it official. He announced that the Bill & Melinda Gates Foundation will close in 2045, drawing a clear line in the sand for how and when he plans to give away almost all of his wealth.
And we’re not talking about a few billion. Gates plans to donate 99 percent of his $107 billion personal fortune, on top of the foundation’s existing resources, making this one of the largest charitable commitments in history.
“It’s kind of thrilling to have that much to be able to put into these causes,” Gates told the Associated Press. And he means it — because once the money’s gone, the foundation will be too.
Why Close the Foundation Early Instead of Letting It Run Forever?
Most foundations keep operating indefinitely. Some even forget why they were started in the first place. That’s exactly what Gates wants to avoid.
“Who knows how their work relates to the intent of the person who started that foundation?” he asked in his blog post.
Originally, the Gates Foundation was going to run for two decades after Gates’s death. Now, it’s set to shut down in exactly 20 years — by December 31, 2045. That’s a big change. And Gates believes it’s the right call.
“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,” he explained.
So instead of spreading his donations over centuries, Gates is frontloading the impact. The idea? Spend more now, save more lives today, and give future philanthropists a clean slate.
What Will the Gates Foundation Focus On Before It Shuts Down?
In its final two decades, the foundation plans to keep a tight focus. With a yearly budget of around $9 billion, it’ll aim to:
- Eradicate polio and malaria
- Combat childhood malnutrition
- Strengthen vaccine access
- Improve public health systems
- Support education in the U.S. and globally
The foundation will also likely become more selective. CEO Mark Suzman said they’re being careful not to spread their efforts too thin, focusing on big wins that can change lives at scale.
Why Is This Happening Now?
Gates’s decision comes at a complicated time. Foreign aid is shrinking, especially from countries like the U.S., Britain, and France. Gates pointed out that cuts to programs like PEPFAR, which fights HIV and AIDS, could cost up to 500,000 children their lives by 2030, according to The Lancet.
In his words, the world is pulling back — but he’s pushing forward. Gates has been vocal about his frustration with other billionaires and world leaders, even criticizing Elon Musk for supporting major aid cuts.
“The picture of the world’s richest man killing the world’s poorest children is not a pretty one,” Gates told the Financial Times. It’s a harsh statement, but one he clearly stands behind.
What About Warren Buffett and Melinda French Gates?
The foundation wouldn’t be what it is today without them.
Warren Buffett has donated billions over the years — accounting for about 41% of the foundation’s funds. But recently, he announced he’ll leave the rest of his fortune to a separate charitable trust run by his children, and won’t be giving more to the Gates Foundation after his death.
Melinda French Gates, Bill’s former wife and original co-founder, left the foundation in 2021 after their divorce to start her own philanthropic work.
Still, Gates continues to call Buffett a personal hero, saying: “It’s hard to overstate the impact he’s had on me.”
What Has the Foundation Accomplished So Far?
Since launching in 2000, the Gates Foundation has:
- Spent over $100 billion
- Helped cut childhood deaths from preventable causes in half
- Funded research to reduce treatment costs for lower-income countries
- Partnered with Gavi to deliver vaccines across the globe
- Supported major education reforms and digital learning tools in the U.S.
For Gates, this work has been more than a mission. “The foundation work has been way more impactful than I expected,” he said. “It’s my second and final career.”
What Happens After the Foundation Shuts Down?
Once the 2045 deadline hits, the Foundation will cease operations, and the resources will be fully deployed.
Gates hopes that by making these investments now, future generations of philanthropists can turn their attention to new, emerging problems, rather than still fighting the same battles over vaccines and food insecurity.
“Somebody should try and save more lives than I did, and give more money than I did,” he said with a challenge to the next wave of changemakers.
Will Gates Achieve His Goal of Dying Broke?
He’s doing everything he can to make sure of it.
“People will say a lot of things about me when I die,” Gates wrote. “But I am determined that ‘he died rich’ will not be one of them.”
This isn’t just about legacy. It’s about action. And it’s about doing the most good, while there’s still time to make a difference.
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