A Fortune with an Expiration Date

Bill Gates, co-founder of Microsoft, has reaffirmed his commitment to philanthropy with a declaration that he intends to give away his entire fortune — estimated at more than $120 billion — before 2045. In a recent interview, Gates underscored the urgency of deploying those resources to address the most pressing challenges facing humanity. “I will not leave my money to my children,” he said with conviction, arguing that great fortunes carry an inherent responsibility to society.

Through the Bill and Melinda Gates Foundation, established in 2000, Gates has channeled tens of billions of dollars into the fight against disease, the improvement of nutrition, and the reduction of global poverty. With a goal of doubling his total giving over the next two decades, he expects to deploy more than $200 billion before the foundation closes in 2045. His decision to forgo a financial legacy for his children draws direct inspiration from Andrew Carnegie’s The Gospel of Wealth — the foundational text arguing that the rich are morally obligated to return their fortunes to society.

The Gates Foundation will concentrate its efforts on eradicating infectious diseases, preventing maternal and infant mortality, and lifting hundreds of millions of people out of poverty. Gates hopes that his example will compel other billionaires to adopt a similarly rigorous stance toward legacy and social responsibility.