Bill Gates Vows to Empty His Coffers: The Bill & Melinda Gates Foundation to Shut Down by 2045
Gates, renowned tech tycoon, won't leave with his vast wealth intact.
Billionaire philanthropist, ex-Microsoft co-founder, and self-proclaimed non-illionaire of the future, Bill Gates, has declared an unprecedented acceleration of the Bill & Melinda Gates Foundation's mission. The world's largest private foundation, empowered by Gates' staggering fortune, is set to cease operations by the year 2045, donating a colossal $200 billion over the following two decades.
In a bold move, Gates contends that he won't leave a penny to his name - with the occasional exception for a few bucks to buy a decent cuppa joe. "I ain't got time for hoardin' my dough like a miser," he wrote.
The foundation, nestled in the heart of Seattle, will redouble its efforts to ensure a healthier, more productive world for all. The statement reads, "This move amplifies our mission and cements 2045 as the foundation's final gong."
A Miser's Regret Turned Philanthropist's Dream
"My stash is too damn big to stay idle while people are sulkin' in cancer wards, die'n of preventable diseases, and claw'n for a shot at equal education," Gates mused. "Holdin' onto my coin any longer won't fix nothin'; it'll just let those problems fester."
With the Gates Foundation, he'll pour the lion's share of his wealth into the gravity-defying work of uplifting humanity, aiming to set aright a host of globe-spanning issues, thereby securing the title: "He died a busted billionaire, not a rich one."
A Never-ending Housewarming for Global Well-being
This ain't the first anniversary cake Bill Gates has decided to smash. Reflecting on this year, he marks the organization's 25-year milestone, his father's centennial, Microsoft's 50th, and his own 70th birthday. His reflection culminated in a shake-up of the foundation's timeline.
The board of directors has axed the foundation's old bylaws, which dictated its dissolution 20 years after Gates' demise. However, the总资产 of the foundation will surpass the original endowment, thanks to Gates' ongoing fortune and market performance. The plan exceeds the foundation's current endowment of $77 billion, which stems from Gates, Melinda French Gates, and Warren Buffett's generous contributions.
In the foundation's initial 25 years, donations verdantly bloomed, with more than $100 billion granted. The incoming two decades will see this donation figure roughly double, subject to economic conditions and inflation. Between now and 2045, Gates anticipates the foundation to overspend with over $200 billion, bringing its curtain call.
Although he may be dripping in donations and outstanding deeds, Gates comes across as a member of the super-spoiled billionaires club. The lavish lifestyles of the superspoiled billionaires class and Germany's wealthiest elite have caught the attention of RTL's economics and finance team. Greedy for Money? explores the insatiable appetite of the super-rich and their dominance on our lives. Catch the entire episode on the RTL News YouTube channel or here.
Source: ntv.de, mdi/dpa
- Bill Gates
- Foundations
- Billionaires
- Microsoft
- Bill Gates, in a bold move, announced that the Bill & Melinda Gates Foundation, the world's largest private foundation, will be donating a colossal $200 billion over the next two decades as part of an accelerated mission, marking its final operation by 2045.
- Gates, who seeks to leave no money behind except for a few bucks for a decent cup of coffee, expressed his regret of idling his wealth while people suffer from preventable diseases, unequal education, and cancer.
- The foundation has redoubled its efforts to ensure a healthier, more productive world for all, aiming to secure the title for Gates: "He died a busted billionaire, not a rich one."
- The total assets of the foundation, surpassing the original endowment, will be used to address various global issues, and the donated amount over the next two decades is expected to exceed the foundation's current endowment, which comes from Gates, Melinda French Gates, and Warren Buffett's contributions.
