Bill Gates has announced plans to wind down the Gates Foundation by 2045 — decades earlier than initially expected — as he commits to giving away “virtually all” of his wealth within the next 20 years.

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The decision marks a major strategic shift for one of the world’s largest philanthropic institutions. In a blog post and anniversary interview, Gates said accelerating the pace of giving was essential given the scale of global challenges.

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“There are too many urgent problems to solve for me to hold onto resources that could be used to help people,” Gates 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.”

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Founded in 2000 with Melinda French Gates, the foundation has spent over $100 billion and currently manages an endowment of over $75 billion. It has focused on global health, education, sanitation, and gender equality, and is credited with helping to halve childhood mortality over the past two decades.

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Speaking to The New York Times, Gates said maintaining a permanent foundation would limit its ability to act now. “If we were trying to be a forever foundation… we’d have to drop down to spending like $6 billion a year,” he said. “But this is a miraculous time,” he added, pointing to the foundation’s R&D pipeline as a key priority.

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The shift comes amid broader leadership changes. Melinda French Gates resigned as co-chair in 2024, following the couple’s divorce. Warren Buffett, a longtime supporter who contributed $36 billion, stepped down as trustee in 2022.

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Gates, who left Microsoft’s top job in 2008 to focus on philanthropy, now says he wants to ensure the foundation’s remaining resources are deployed while they can still make a transformative impact.