Bill Gates announced plans to close his charitable foundation by 2045, prioritizing immediate action over legacy. Citing the urgent global problems that require resources, Gates stated he intends to distribute virtually all of his wealth through the foundation within the next two decades. Reflecting on the foundation's achievements, including the reduction in childhood deaths, he stressed that now is the time to invest in solutions. Gates believes that spending resources faster will make a significant impact, arguing that saving lives can now be achieved at lower costs due to improvements in research and development.
"There are too many urgent problems to solve for me to hold onto resources that could be used to help people," Gates said in a blog post.
"We're not trying to steward our money for some weird legacy thing. If we were trying to be a forever foundation, instead of being able to spend $9 billion a year, we'd have to drop down to spending like $6 billion a year."
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