Bill Gates announced that he will close his foundation in 2045. The announcement raised quite a few eyebrows since the organization — which he created with his ex-wife, Melinda French Gates, in 2000 — is one of the most charitable groups in the world. So, why is Bill closing the Gates Foundation in 20 years?

Below, find out Bill’s reason for shutting down his foundation and learn how it will affect his wealth.

Bill Gates’ Net Worth in 2025

As of May 2025, Bill has a net worth of $113 billion, according to Forbes. The Microsoft co-founder is credited for pioneering the microcomputer revolution. He even attended the elite Harvard University but dropped out to launch his globally successful company.

Over time, Bill slowly stepped back from his Microsoft role to focus on philanthropy. He eventually launched the Gates Foundation with his then-wife, Melinda.

Why Did Bill Gates Close His Foundation?

In his May 2025 blog post, Bill said he was closing his foundation because he didn’t want to die rich. He noted, “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”

“People will say a lot of things about me when I die, but I am determined that ‘he died rich’ will not be one of them,” he wrote. “When I first began thinking about how to give away my wealth, I did what I always do when I start a new project: I read a lot of books. I read books about great philanthropists and their foundations to inform my decisions about how exactly to give back. And I read books about global health to help me better understand the problems I wanted to solve.”

Bill elaborated how he will steadily decrease his wealth. He wrote, “I will give away virtually all my wealth through the Gates Foundation over the next 20 years to the cause of saving and improving lives around the world.”

“By accelerating our giving, my hope is we can put the world on a path to ending preventable deaths of moms and babies and lifting millions of people out of poverty,” Bill concluded. “I believe we can leave the next generation better off and better prepared to fight the next set of challenges.”

When Will the Gates Foundation Close?

Bill announced his foundation will “permanently” close on December 31, 2045.

How Many Kids Does Bill Gates Have?

Bill shares three children with Melinda: Jennifer, Rory and Phoebe.