TEMPO.CO, Jakarta - Microsoft founder Bill Gates has announced plans to close the Gates Foundation on December 31, 2045. One of the wealthiest individuals in the world, Gates has pledged to donate nearly all of his fortune, approximately US$200 billion or more than Rp3,400 trillion, over the next 20 years.
"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," Gates said, as quoted on the official Gates Foundation website.
Gates said he was inspired by Andrew Carnegie’s classic essay The Gospel of Wealth, which emphasizes the moral obligation of the rich to return their wealth to society. “Carnegie argued that the man who dies rich dies disgraced. I have spent a lot of time thinking about that quote recently,” he wrote.
This decision was also influenced by personal milestones, including Gates's 70th birthday this year, what would have been his late father's 100th birthday, and the 50th anniversary of Microsoft. Rather than retiring and playing pickleball like many others his age, Gates has chosen to accelerate efforts that create real impact through the programs he supports.
Since its establishment in 2000, the Gates Foundation has distributed more than US$100 billion to humanitarian programs, ranging from global health and education to poverty alleviation. Over the next two decades, Gates plans to double that amount with a goal of spending over US$200 billion before the foundation is closed.
Most of the funding will focus on three key missions: ending preventable maternal and infant deaths, eradicating deadly infectious diseases, and lifting millions of people out of extreme poverty.
CNN reports that Gates's net worth has reached US$108 billion, placing him fifth on Bloomberg’s Billionaires Index. However, the tech billionaire predicts a significant drop in his wealth over the next 20 years.
Gates has stated that by 2045, his fortune will have decreased by up to 99 percent. Most of the money will go to the Bill and Melinda Gates Foundation, which has long served as his primary channel for addressing global issues.
The total donation is projected to reach US$200 billion, which includes the foundation’s current endowment of US$77 billion and Gates’s personal wealth, including potential profits from his ongoing ventures such as TerraPower, the nuclear energy company he founded.
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