Bill Gates has pledged to give away the majority of his wealth, announcing a timeline for the Bill & Melinda Gates Foundation's closure by December 31, 2045. He aims to combat global challenges through a substantial increase in annual funding, targeting $9 billion a year. This marks a fundamental shift from traditional philanthropic models, emphasizing immediate impact rather than long-term sustainability. Gates' resolve to not be remembered as 'rich' underscores his intent to contribute significantly to societal issues, projecting an additional $200 billion in contributions by 2045.
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.
This strategy represents a shift away from the idea of 'foundation perpetuity,' where large endowments are preserved and pay out smaller annual grants.
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