William Henry Gates popularly known as Bill Gates, the Microsoft co-founder, has announced plans to give away all his wealth over the next two decades, marking the “final chapter of his career”.
Gatekeepers News reports that Gates made the announcement in an article published on his website on Thursday.
According to Gates; Bill and Melinda Gates Foundation (BMGF) will permanently close on December 31, 2045.
In 2000, Gates and his ex-wife Melinda French Gates founded Bill and Melinda Gates Foundation (BMGF), which focuses on global health, education, and poverty alleviation.
He noted that his wealth donation over the next 20 years would be dedicated to the cause of saving and improving lives around the world.
The philanthropist said, “When Melinda and I started the Gates Foundation in 2000, we included a clause in the foundation’s very first charter: The organization would sunset several decades after our deaths.”
“A few years ago, I began to rethink that approach.”
“More recently, with the input from our board, I now believe we can achieve the foundation’s goals on a shorter timeline, especially if we double down on key investments and provide more certainty to our partners.”
Gates revealed that to date, his foundation has given out over $100 billion powered in part by generosity of Warren Buffett, chief executive officer (CEO) of Berkshire Hathaway, the conglomerate holding company.
He added, “Over the next two decades, we will double our giving.”
“The exact amount will depend on the markets and inflation, but I expect the foundation will spend more than $200 billion between now and 2045. This figure includes the balance of the endowment and my future contributions.”
“Today’s announcement almost certainly marks the beginning of the last chapter of my career, and I’m okay with that.”
“I have come a long way since I was just a kid starting a software company with my friend from middle school.”
“As Microsoft turns 50 years old, it feels right that I celebrate the milestone by committing to give away the resources I earned through the company.”
Gates dropped out of Harvard University in 1975, to start Microsoft with his childhood friend, Paul Allen. Their company revolutionized
Their company revolutionised the software industry with the development of MS-DOS and later Windows, which became the dominant operating system for personal computers globally.
