Bill Gates Explains Why He’s Giving Away 99% of His Wealth by 2045

Gates Commits to Giving Away His Fortune

Bill Gates has revealed an ambitious philanthropic plan to give away virtually all of his $108 billion fortune over the next 20 years, aiming to tackle global health, education, and poverty. Jack Gruber, Jack Gruber / USA TODAY NETWORK via Imagn Images

$200 Billion for Global Causes

In an exclusive interview with CBS Mornings, Gates announced the Gates Foundation will distribute a total of $200 billion during that time — a move he believes could save “tens of millions of lives.” Pixabay / Pexels

“We Can Get a Lot More Done”

"By deciding to spend all this money in the next 20 years, we can get a lot more done," Gates said, emphasizing the urgency behind accelerating the foundation’s efforts. REPÚBLICA DE COLOMBIA / Wikimedia

Inspired by Carnegie’s Warning

Gates attributed his decision to Andrew Carnegie’s 1889 essay "The Gospel of Wealth", citing the line: "The man who dies thus rich dies disgraced." In a letter posted Thursday, Gates declared: "People will say a lot of things about me when I die, but I am determined that 'he died rich' will not be one of them." Robert Hanashiro / USA TODAY NETWORK via Imagn Images

Foundation to Close by 2045

As part of this shift, the Bill and Melinda Gates Foundation — originally intended to remain active long after the founders' deaths — will now shut down by 2045. Sea Cow / Wikimedia

Focus on Health, Disease, and Education

Over the past 25 years, the foundation has already spent $100 billion, much of it focused on reducing childhood mortality. Gates highlighted the success of global vaccine distribution and said the foundation would now “double down” on its three core goals: reducing preventable deaths among mothers and children, eliminating infectious diseases, and fostering long-term prosperity through improved education. European Union / Wikimedia

Aid Cuts Could Reverse Progress

Gates also warned that budget cuts to U.S. foreign aid could jeopardize progress in these areas. "So we should be going from 5 million children dying a year over the next five years to 4 million. And now with these cuts, if they're not reversed, we will go to over 6 million dying," he said. Precondo / Pixabay

Talks with Trump, but Programs Cut

While Gates has spoken with President Donald Trump about global health issues like HIV prevention and polio, he acknowledged that some programs had since been defunded. "I'm hoping, both with the president or the Congress, to get them to restore some of those aid activities," he said. Gary Cosby Jr. / USA TODAY NETWORK via Imagn Images

Private Giving Likely Can’t Replace U.S. Aid

Despite its vast resources, the Gates Foundation cannot make up for the shortfall created by reduced federal aid. In fiscal 2024 alone, the U.S. disbursed $72 billion in foreign aid — nearly four times the Gates Foundation’s total contribution to global health initiatives. "You always want more money going into these things where you're saving lives for a few thousand dollars," Gates said. iGlobalWeb / Pixabay

The Final Chapter Begins

Now approaching 70, Gates described this moment as the “last chapter” of his career. "I should make sure that it’s well spent," he said, adding with a laugh that while he won’t miss his billions, he will "save a little bit to be able to buy hamburgers as much as I need." Jack Gruber-USA TODAY