Bill Gates reveals he will give away 'virtually all my money' over next 20 years

has pledged to give away his remaining multi-billion dollar fortune, vowing to blow the money on his charitable foundation within the next 20 years.

The move will close his charitable venture by 2045 - two decades earlier than originally planned. The pledge, announced today, represents one of the largest individual charitable commitments in history. Based on current estimates, the co-founder’s donation would total around £81 billion. However, depending on market fluctuations, only Warren Buffett’s planned legacy, estimated at £120 billion, could surpass it.

Gates said the money will be distributed over time, allowing the foundation to spend an additional £150 billion over the next 20 years. He said the goal is to accelerate progress on critical challenges like global health and education while ensuring the foundation’s work has a long-lasting impact.

READ MORE:

READ MORE:

“It’s kind of thrilling to have that much to be able to put into these causes,” Gates said. “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.”

The decision marks a turning point for the Gates Foundation, which has been the most influential philanthropic organisation of the 21st century. Heralded for its ambition, while criticised for its scale, it has been dogged for years by fringe conspiracy theories about its influence.

Founded 25 years ago, the Gates Foundation has already disbursed more than £75 billion, funding vaccine development, public health infrastructure, and educational programs around the .

It has shaped global research agendas, built long-term partnerships with governments and corporations, and become a dominant force in international development. Gates said that setting a closure date ensures his wealth is deployed for immediate impact, rather than sitting in an account indefinitely.

It also adds pressure to ensure that projects launched with the foundation’s support are built to last beyond its lifetime. Gates’ longtime friend and fellow billionaire Warren Buffett, who has already donated more than £37.5 billion to the foundation, remains its most prominent benefactor.

But with the Microsoft boss now pledging the lion’s share of his remaining fortune, the foundation’s final two decades could be its most active and aggressive.

The timing of the announcement reinforces Gates’ desire to act decisively rather than hoard his wealth. “If we wait too long, we miss the chance to save lives or transform systems,” he said.

In 2016, Gates famously said he would not be leaving his fortune to his three children. Appearing on ’s This Morning, the Microsoft creator said his kids understood his decision. Speaking to and , the 60-year-old said: “Well, our kids receive a great education and some money but they will go out and have their own careers."

He reasoned that by allowing his children - two daughters and a son - to inherit his fortune “distorts anything” they might try to do.

Gates said all three were “proud” of his decision. The businessman-turned-philanthropist said the children would have their own careers instead of billion-dollar trust funds.

Laughing, he added they would never go short, saying “They are never going to be poorly off. Gates added: “It's not a favour to kids to have them have huge sums of wealth. It distorts anything they might do, creating their own path.”

The billionaire and his ex-wife, Melinda, 60, have three children together: Jennifer, 28, Rory, 26, and Phoebe, 22.