Bill Gates has announced plans to distribute "virtually all" of his wealth, estimated around $200 billion, within the next 20 years and shutter the Gates Foundation by December 31, 2045. This decision accelerates the foundation's work on global health and equity initiatives, with Gates hoping to set a philanthropic model for other billionaires.

The announcement arrives as President Donald Trump’s administration aims to cut funding for health, foreign aid, and public assistance programs, raising concerns about progress on research and crucial projects. Gates, who turns 70 this year, stated his determination to avoid dying rich, emphasizing the urgency of solving global problems with available resources.

Since its inception in 2000, the Gates Foundation has given away over $100 billion, focusing on developing vaccines, diagnostic tools, and treatment mechanisms. This commitment is deemed the "largest philanthropic commitment in modern history." The foundation will concentrate on ending preventable deaths of mothers and babies, eradicating infectious diseases, and alleviating poverty.

Gates also accused Elon Musk of harming the world's poorest children through cuts in US international aid programs. Despite these concerns, Gates is optimistic about advancements in artificial intelligence boosting progress in combination with his philanthropy.

Gates’ net worth, currently at $108 billion, is expected to decrease by 99% by 2045. The $200 billion will come from the foundation's $77 billion endowment and his personal wealth, including earnings from business investments like TerraPower. French Gates exited the Gates Foundation last year after their divorce in 2021 and has stated she will not donate the bulk of her wealth through the foundation.

The announcement coincides with Microsoft's 50th anniversary. Gates expressed that committing his resources earned through the company feels appropriate.