Gates Foundation pledges $200 billion and sets 2045 sunset in historic shift
US nonprofit the Gates Foundation has pledged to spend more than $200 billion over the next two decades, doubling its giving to date, and bringing forward its planned closure to 2045. The decision marks a seismic shift in the organization’s philanthropic approach.
The foundation, based in Seattle, was established 25 years ago and has been backed by the personal wealth of Microsoft founder Bill Gates, as well as long-time supporter Warren Buffett. The new timeline accelerates a previous plan to sunset 20 years after Mr Gates’ death.
Writing in a blog post, Mr Gates said he would “give away virtually all my wealth through the Gates Foundation over the next 20 years,” describing the move as a way to help people without delay.
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