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Bill Gates announces his foundation will close in 20 years

In a recent interview, Gates discussed his decision to end the foundation based on future market conditions.

June 20, 2025 at 09:20 AM

Bill Gates makes a bet: Foundations of the future free market

Bill Gates announces he will close his foundation within 20 years, sparking debate on philanthropy's future.

Bill Gates prepares to close his foundation in 20 years

In a recent interview with the New York Times Magazine, Bill Gates announced plans to close his foundation within 20 years. He expressed skepticism about the long-term relevance of written goals, especially amid rapid changes like advances in artificial intelligence. Other leaders in philanthropy are concerned, advocating for immediate financial aid amidst current crises. While some suggest closing foundations could be detrimental, Gates believes that wealth creation will continue, allowing future philanthropists to emerge and support charitable endeavors.

Key Takeaways

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Bill Gates plans to shut his foundation within 20 years based on market beliefs.

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Philanthropy faces a dilemma of urgent action versus long-term sustainability.

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Potential tax on foundation endowments could impact future charitable giving.

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Gates' optimistic outlook is distinct from the prevailing sense of crisis in philanthropy.

"If you're giving while you're living, you're knowing where it's going."

This illustrates Gates' belief in direct philanthropy over long-term endowments.

"The damage is happening now."

This expresses the urgency felt by nonprofit leaders regarding immediate funding needs.

"Aggressively taxing charitable foundations doesn't just restrict today’s giving."

This emphasizes the concerns foundations have about potential tax impacts on future giving.

"I see it as a four- to six-year interruption."

Gates is confident about overcoming current challenges, which contrasts with widespread concern.

Gates' decision reflects a broader tension in the philanthropy world. On one side, there is an urgent call for immediate action to address pressing societal issues. On the other, a belief that the market will foster new supporters. This dichotomy reveals a challenge for philanthropists: balancing the need to act now against the need for long-term vision and sustainability. As philanthropy evolves, so too does the dialogue around how best to use these resources for lasting impact.