In a landmark philanthropic announcement, Bill Gates has committed to donating 99% of his estimated $107 billion fortune over the next two decades.
This pledge aims to bolster the Bill & Melinda Gates Foundation's efforts in combating global health crises, poverty, and educational disparities. The foundation, which has already disbursed over $100 billion since its inception in 2000, plans to double its spending, allocating an additional $200 billion by 2045. This strategic acceleration will culminate in the foundation's planned closure on December 31, 2045 .
Gates's decision is inspired by Andrew Carnegie's 1889 essay, "The Gospel of Wealth," which advocates for the affluent to redistribute their wealth for the public good. Embracing this philosophy, Gates emphasized the urgency of addressing pressing global challenges, stating, "There are too many urgent problems to solve for me to hold onto resources that could be used to help people" .
