Bill Gates facing financial depletion
Your favorite tech mogul, Bill Gates, is beefing up his charitable giving with a fresh dash of urgency. The Microsoft co-founder, who launched the Bill & Melinda Gates Foundation 25 years ago, plans to spend his fortune on global issues faster than predicted. And by faster, we mean a whole 20 years earlier than originally planned.
The world's largest private charitable organization will close its doors in 2045, having donated $200 billion over the past two decades. The Seattle-based foundation, primarily focused on improving health, combating poverty, and promoting education, will now accelerate its mission.
"The time for action is now," Gates wrote (AKA, no more dilly-dallying), "There are too many urgent problems that need addressing, and I don’t want to hoard my resources when they could be helping people."
two-score-and-ten years ago...
The foundation's announcement comes amidst a period of reflection for Gates, marking 25 years since the foundation's inception, a year that would've seen his father, who co-founded the organization, reach the century mark, and 50 years since Microsoft launched (yeah, we did the math).
The revised timeline was approved by the foundation's Board of Directors, who had initially planned for the organization to cease operations 20 years following Gates' death. But hey, who needs a few more decades when you can save lives now? The committed funds are expected to surpass the foundation's current assets, with the remaining funds coming from Gates' personal fortune over the next 20 years.
super-rich savings
Since its inception 25 years ago, the Gates Foundation has disbursed over $100 billion, with the help of billionaire Warren Buffett, who's got a thing for philanthropy too. The next two decades will see the foundation double down on its spending, adjusting for market conditions and inflation. With the goal of spending over $200 billion by 2045, the foundation will then shut its doors indefinitely.
Bill Gates remains a member of the exclusive "Club of the Super-Rich." The influence of super-rich individuals on various aspects of our lives is explored by RTL in their economic and financial format, "Greedy?!" Head over to the RTL News YouTube channel or here to learn more.
setting an example
As a bonus tidbit, here's a little-known fact: by committing to giving away his fortune during his lifetime, Bill Gates is setting an example for other wealthy individuals. By investing in global health, education, and poverty reduction initiatives, Gates and others in his social circle are driving positive change in the world.
Now, let's get back to those problems that need addressing. Bill, we're counting on you!
Sources: ntv.de, mdi/dpa,
## Bill Gates | Foundations | Billionaires | Microsoft
- The revised plan by the Bill & Melinda Gates Foundation, originally aiming to cease operations 20 years after Gates' death, will now be closed in 2045, having donated $200 billion over the past two decades.
- In 2024, the foundation will double down on its spending, adjusting for market conditions and inflation, as deemed necessary by the organization's Board of Directors.
- Following the footsteps of billionaire Warren Buffett, Bill Gates continues to set an example for other wealthy individuals by investing in global health, education, and poverty reduction initiatives.
