To give away $ 200 billion
Microsoft co-founder Bill Gates wants to spend his enormous assets faster for charitable and humanitarian purposes than planned. The Gates Foundation, founded by Gates and his ex-wife Melinda 25 years ago, is scheduled to close at the end of 2045 and will donate a total of $ 200 billion in the next 20 years.
The Foundation, based in Seattle, said that the « mission to help everyone helps a healthy and productive life ». « This decision represents a significant acceleration of the work of the foundation and sets the year 2045 as a new date for the end of its work, » says a statement.
The Gates Foundation is considered the largest private foundation in the world. Their goals are primarily the worldwide improvement in health care, the fight against extreme poverty and infectious diseases as well as access to education. Among other things, it provides money for vaccination programs.
Gates: « Give my money back to society faster »
« There are too many urgent problems that need to be solved to hold resources back with which I could help people, » writes Gates. « That’s why I decided to return my money to society much faster than I originally planned. »
He will provide practically his entire fortune through the Gates Foundation over the next 20 years – for rescue and improving life around the world, Gates writes. « People will say a lot about me when I die, but I am determined that » he died rich « will not be part of. »
There are too many urgent problems that need to be solved to hold resources back.
Bill Gates
Microsoft founder
This decision comes for him at a time of thinking, Gates said. This year not only the 25th anniversary of the foundation is celebrated. It would also have been the year in which his father, who had helped with the foundation of the foundation, would have been 100 years old. Microsoft also turns 50 and he himself 70 years old in October.
According to the information, the accelerated schedule was confirmed by the board of the foundation by changing the statutes. This provided that the organization expires 20 years after Gates’ death. The promised funds therefore exceed the current foundation’s assets, whereby the remaining amount will come from Gates’ personal assets over time.
In the first 25 years of the Gates Foundation, « also thanks to the generosity of Warren Buffett » – more than $ 100 billion was made available. The donations would be doubled in the next two decades. The amount depends on the markets and inflation. He expects the foundation to spend more than $ 200 billion out of dollars by 2045, according to Gates. On December 31, 2045, the foundation will close its gates forever.
