Bill Gates Will Close Gates Foundation In 2045 After Donating 99% Of His Fortune

Forbes - May 8th, 2025

Bill Gates announced that the Gates Foundation will close by 2045, accelerating its planned shutdown by decades. The philanthropic organization, established in 2000, will cease operations on December 31, 2045, with a commitment to spend $200 billion over the next two decades. Gates, whose net worth is estimated at nearly $113 billion, plans to donate almost all of his wealth through the foundation until its closure, reducing his fortune by 99%. This decision marks a significant shift in the foundation's timeline, as it was initially set to close only decades after Gates' death.

The announcement underscores Gates' commitment to philanthropy and could have significant implications for global charitable efforts. By advancing the closure date, the foundation aims to maximize its impact within a shorter timeframe, potentially influencing other large philanthropic organizations to reconsider their long-term strategies. Gates' decision to divest nearly his entire fortune also highlights the growing trend among billionaires to dedicate their wealth to addressing global challenges, potentially setting a precedent for future philanthropic endeavors. The development is poised to shape the landscape of charitable giving and resource allocation in the coming years.

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RATING

7.0

Fair Story

Consider it well-founded

The article effectively reports on a significant announcement by Bill Gates regarding the future of the Gates Foundation. It provides accurate and timely information that is of considerable public interest, given the foundation's global impact. However, the article could benefit from greater balance and transparency by including additional perspectives and context. While it is clearly written and easy to understand, incorporating more background information and diverse sources would enhance its overall quality and engagement potential. The story has the potential to influence public discussions about philanthropy and wealth distribution, although it could delve deeper into the controversial aspects of these topics.

Accuracy

The article accurately reports that Bill Gates announced the Gates Foundation would close in 2045, which aligns with the foundation's official statements. It correctly states that Gates plans to donate nearly all his fortune, reducing his net worth by 99%, which is consistent with his public declarations. The commitment to spend $200 billion over the next two decades is also verified by official sources. However, the article could improve by providing more context on the foundation's goals and achievements, such as its focus on eradicating diseases like malaria and polio, which are mentioned in other detailed reports.

Balance

The article provides a straightforward account of Bill Gates' announcement without overt bias. It focuses primarily on Gates' philanthropic goals and the financial aspects of the foundation's closure. However, it could offer a more balanced perspective by including viewpoints from other stakeholders, such as beneficiaries of the foundation's work or experts in philanthropy, to provide a fuller picture of the implications of the foundation's closure.

Clarity

The article is clearly written, with a straightforward structure that presents the main points concisely. The language is neutral and accessible, making it easy for readers to understand the key details of the announcement. However, it could benefit from additional context or background information on the Gates Foundation's history and impact, which would enhance reader comprehension.

Source quality

The article cites Bill Gates and the Gates Foundation as its primary sources, which are authoritative regarding the foundation's plans. However, it lacks a diversity of sources, such as independent analysts or third-party organizations, which could enhance the credibility and depth of the reporting. Including such sources would provide additional context and validation of the claims made.

Transparency

The article is transparent about the main claims, such as the foundation's closing date and financial commitments. However, it does not disclose the methodology behind these claims or provide insight into potential conflicts of interest. Greater transparency regarding the basis of these claims and any potential biases would improve the article's trustworthiness.