In May 2025 Bill Gates announced he would give away virtually all of his wealth — about 99%, an estimated $200 billion in foundation spending over the period — and that the Gates Foundation would permanently close on December 31, 2045, two decades earlier than its previous open-ended timeline. Gates said the accelerated schedule was a response to urgent global problems that 'can't wait,' and framed the decision personally, saying he does not want people to say, 'He died rich.' The plan roughly doubles the Foundation's annual giving, toward around $9 billion a year. Since 2000 the Foundation has already directed more than $100 billion toward global health, poverty, and development.