Microsoft co-founder Bill Gates announced on May 8 that he will donate the majority of his personal wealth to the Gates Foundation. He also set an ambitious goal for the foundation to exceed US$200 billion in charitable spending before ceasing operations by 2045, aiming to help those in need worldwide.
Marking the foundation's 25th anniversary, Gates shared his decision in a blog post, stating, "There are too many urgent problems to solve for me to hold onto resources that could be used to help people. 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."
Gates explained that the foundation's charitable spending from now until 2045 is expected to surpass US$200 billion, a figure that encompasses the foundation's current endowment as well as his future donations.
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