#BillGates

Bill Gates announced that he will donate all his wealth

World-famous philanthropist Bill Gates announced on Thursday that he will give his entire fortune to the Gates Foundation.

"There are too many urgent issues for me to address in order to have resources that can be used to help people. That's why I decided to return my money to the community sooner than originally planned," Gates said. "For the next 20 years, I will give all my wealth through the Gates Foundation to save and improve the lives of people around the world," he said.

The foundation has announced that it will use $200 billion in current grants from Gates' personal wealth to improve human lives by 2045. On the 25th anniversary of the Foundation's founding, a new pledge was issued that marked a major milestone in the Foundation's work, setting the year 2045 as the end of the Foundation's operations.

According to the announcement, the foundation's board of directors approved the accelerated timeline by amending the foundation's charter, which said the organization would close jobs 20 years after Gates' death.

"I thought about it a few years ago. With recent advice from our board, I believe the foundation's goals can be achieved more in the short term, especially if we double down on key investments and provide more confirmation certainty to partners," Gates said.

Gates said that in the first 25 years of the Gates Foundation, he and Warren Buffett have donated more than $100 billion together.

"Over the next two decades, we will double our endowment. The exact amount will depend on the markets and inflation, but the Foundation expects to spend more than $200 billion between now and 2045. This figure includes the current endowment balance and my future contributions," Gates said.