A trend is emerging among the world’s wealthiest individuals, with many accelerating their philanthropic efforts as governments reduce funding for social programs. Bill Gates’ announcement that the Gates Foundation will close its doors in 2045 marks a notable example of this shift. The foundation, which was established at the turn of the millennium, has pledged to distribute an additional $200 billion over the next two decades – nearly all of Bill Gates’ remaining fortune.
This trend is driven by the realization that despite government funding cuts, the need for aid and charitable initiatives remains pressing. Billionaires are now taking matters into their own hands, using their wealth to make a significant impact on global issues such as disease and poverty.
Source: https://www.economist.com/united-states/2025/05/15/why-some-tycoons-are-speeding-up-their-charity