Why Bill Gates Plans To Give Away Almost All His Wealth And Spend $200 Billion

Bill Gates has made the bold decision to give away what he calls ‘virtually all’ of his enormous wealth. He plans to spend $200 billion over the next two decades and he’s explained exactly why he’s chosen this path.

The Microsoft co-founder currently ranks as the 13th richest person in the world, with a net worth estimated at around $113 billion, according to Forbes.

But Gates has made it clear that he wants his money to serve a greater purpose. He’s already donated a staggering $100 billion to various charitable causes, and he’s far from finished.

Now, he’s announced that he plans to give away nearly everything, pledging on Thursday (May 8) to double his donations to a total of $200 billion over the next twenty years. By the time he’s done, he expects his personal wealth to have dropped by 99 percent.

In the announcement, Gates shared that most of his remaining fortune will be donated through the Gates Foundation, the charitable organization he co-founded with his ex-wife Melinda 25 years ago. He also revealed that the foundation is set to shut down permanently by the end of 2045.

He's got some big plans for his fortune Patricia Schlein/Star Max/GC Images

Why is Gates getting rid of 99 percent of his net worth?

In a personal blog post, Gates explained that he feels deeply driven to address some of the world’s most urgent problems especially issues surrounding children’s health and the fight against climate change.

He even went as far as to criticize Elon Musk, accusing him of 'killing the world's poorest children' due to cuts in foreign aid while heading the Department of Government Efficiency (DOGE) under the Trump administration.

Beyond current affairs, Gates has also found inspiration in books. He recently revisited a powerful 1889 essay by Andrew Carnegie titled The Gospel of Wealth, which left a strong impression on him.

Motivated by Carnegie’s message, Gates says he’s committed to ensuring that he is not remembered as someone who “died rich.”

Melinda is also pretty rich Michael Nagle/Bloomberg via Getty Images

"There are too many urgent problems to solve for me to hold onto resources that could be used to help people," he shared in his post.

He’s also chosen a meaningful year to mark the end of the Gates Foundation. The closure will coincide with the foundation’s 25th anniversary. That same year, Gates will turn 70, his late father would have turned 100, and Microsoft will hit the 50-year mark.

Where will $200 billion go?

Gates said the money will be directed toward what he described as “the cause of saving and improving lives around the world.”

He’s especially passionate about reducing the number of preventable deaths among mothers and babies, helping to lift millions out of poverty, and fighting deadly infectious diseases that still claim lives across the globe.

He wrote: "During the first 25 years of the Gates Foundation powered in part by the generosity of Warren Buffett—we gave away more than $100 billion. Over the next two decades, we will double our giving."

He announced the foundation would close for good in 20 years ROSLAN RAHMAN/AFP via Getty Images

"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."

The Gates Foundation reports that it received $77.2 billion in endowments just last year. Meanwhile, Warren Buffett has personally contributed an incredible $43.3 billion between 2006 and 2024.

Gates added: "Progress depends on so many people around the globe: Brilliant scientists who discover new breakthroughs. Private companies that step up to develop life-saving tools and medicines."

"Other philanthropists whose generosity fuels progress. Healthcare workers who make sure innovations get to the people who need them. Governments, nonprofits, and multilateral organizations that build new systems to bring solutions to scale."

"Each part plays an essential role in driving the world forward, and it is an honor to support their efforts."

Warren Buffett has given away billions to the charity Eric Francis/Getty Images

Why the change of plan?

Gates acknowledged that this approach marks a shift from the foundation’s original mission. When it was first created, he and Melinda had agreed on a clause stating that the organization would continue operating long after their lifetimes.

However, Gates said he’s since re-evaluated that vision. He now believes the foundation’s goals could actually be achieved more quickly, rather than stretching them out over many decades.

He explained: "The Gates Foundation's mission remains rooted in the idea that where you are born should not determine your opportunities."

"I am excited to see how our next chapter continues to move the world closer to a future where everyone everywhere has the chance to live a healthy and productive life."

How much would Bill Gates be worth without his charity donations?

Forbes estimates that if Gates had kept all of his Microsoft stock instead of donating a large part of it, he would likely be wealthier than Elon Musk, who currently holds the title of the world’s richest man.

Even after giving away huge sums, Gates and Melinda still rank among the wealthiest people on the planet. They sit at 13th and 56th place, with net worths of approximately $113 billion and $30.4 billion, respectively.

But had they held onto all their shares, the two of them combined would be worth around $1.5 trillion today. That would have likely made Bill the world’s first-ever trillionaire.

Gates could've been the world's first trillionaire if he hadn't of pursued philanthropy Getty Images