Bill Gates is donating virtually all his remaining fortune to the Gates Foundation, doubling the organization’s spending to $200 billion before it sunsets in 2045.
It’s the largest philanthropic contribution in modern history, the organization said — and a shift in the foundation’s original timeline, which would have shuttered the Gates Foundation 20 years after the tech entrepreneur’s death.
“There are too many urgent problems to solve for me to hold onto resources that could be used to help people,” Gates wrote in a statement released Thursday. “That is why I have decided to give my money back to society much faster than I had originally planned.”
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About the author
Elissa Miolene
Elissa Miolene reports on USAID and the U.S. government at Devex. She previously covered education at The San Jose Mercury News, and has written for outlets like The Wall Street Journal, San Francisco Chronicle, Washingtonian magazine, among others. Before shifting to journalism, Elissa led communications for humanitarian agencies in the United States, East Africa, and South Asia.
