Bill Gates Pledges 99% of Wealth to Gates Foundation, Closing in 2045

Bill Gates, co-founder of Microsoft and renowned philanthropist, has announced he will donate 99% of his remaining tech fortune to the Gates Foundation. This decision will advance the foundation's closure to 2045, earlier than previously anticipated.

Gates' pledged wealth, estimated at $107 billion, will support the foundation's increased spending of $200 billion over the next two decades, focusing on global health and education initiatives. The foundation has been instrumental in shaping global health policies, partnering with companies to make medical treatments affordable for low- and middle-income countries.

Despite facing criticism for its influence, the Gates Foundation's efforts have notably contributed to reducing childhood deaths from preventable diseases. Moving forward, the foundation will maintain an annual budget of around $9 billion, with a narrowed focus to maximize its impact.

(With inputs from agencies.)