Bill Gates to give away 99% of his fortune

Gates

Billionaire philanthropist Bill Gates has disclosed intentions to give away nearly all of his $200 billion wealth, leaving only one per cent for himself, as he shuts down the Bill and Melinda Gates Foundation.

The Microsoft co-founder stated on Thursday in a post on his personal blog, Gates Notes, that the foundation, which is considered to be among the most significant charitable organisations globally, will close its doors by December 31, 2045.

“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.

“There are too many urgent problems to solve for me to hold onto resources that could be used to help people,” he said.

He added, “That is why I have decided to give my money back to society much faster than I had originally planned. I will give away virtually all my wealth through the Gates Foundation over the next 20 years to the cause of saving and improving lives around the world. And on December 31, 2045, the foundation will close its doors permanently.”

In a chart shared in the blog post, Gates revealed that he plans to give away 99 per cent of his wealth by 2045, leaving just one per cent, or about $1.6 billion, for himself and his family.

Founded in 2000 with his now ex-wife, Melinda French Gates, the foundation has spent over $100 billion on global health, education, and poverty alleviation, helping to fund vaccine development, medical research, and emergency aid around the world. Punch