Bill Gates to Shut Down Gates Foundation by 2045, Plans $9bn Spend in 2026

Bill Gates has initiated the process to shut down the Bill & Melinda Gates Foundation, one of the world’s most influential philanthropic organizations, by 2045.

The foundation will spend a record $9 billion in 2026, focusing on key areas like global health, education, and poverty reduction. To manage costs, the foundation will cut up to 500 staff positions over the next five years, capping operating expenses at $1.25 billion annually. This move is part of Gates’ plan to donate 99% of his $114 billion fortune to philanthropy.

The foundation has already made significant strides in global health, including reducing child mortality and expanding vaccine access. Its education initiatives have opened doors for underserved students through technology and scholarship programs.