Bill Gates Announces Plan to Give Remainder of His Fortune Away by 2045

Bill Gates has long been known for the billions he’s spent on philanthropic efforts around the world, and now he’s doubling down, and spending the money more quickly than originally planned.In new interviews with The New York Times Magazine and The Associated Press, Gates revealed that he plans to donate 99 percent of his remaining fortune to The Gates Foundation, the nonprofit he founded in 2000 to focus on advancing global health and education. The money, worth an estimated $107 billion today, will be delivered over the course of the next 20 years, with the foundation to close in 2045, ahead of schedule. Delivered over two decades, the money will allow the foundation to spend about $200 billion more.It amounts to one of the largest philanthropic gifts in the history of the world, and comes at a time when the United States government has curtailed its own spending on global health due to budget cuts under the Trump administration. “It’s kind of thrilling to have that much to be able to put into these causes,” Gates told The Associated Press. “I think 20 years is the right balance between giving as much as we can to make progress on these things and giving people a lot of notice that now this money will be gone.”Originally founded by Gates and his now ex-wife Melinda French Gates, the foundation’s money also included large contributions from Berkshire Hathaway founder Warren Buffet. It has drawn praise for its success in combatting disease around the world, as well as criticism for what some say is an outsized influence in the space. There’s also been unfounded conspiracy theories pop up around supposed nefarious nature of its work. This is a breaking story. Check back later for more information.