Gates Foundation CEO Mark Suzman explains why it was 'more important than ever' to announce closure plans
The Gates Foundation, one of the biggest and most influential philanthropic organizations, announced plans to close by 2045.
The foundation, founded by Bill and Melinda Gates 25 years ago, has spent $100 billion in that time, funded by the Gateses and longtime Berkshire Hathaway CEO Warren Buffett. It plans to spend $200 billion over the next 20 in the same realms where it has had a huge impact, including reducing childhood mortality and the spread of infectious diseases.
The group initially planned to wind down decades after the deaths of its founders, but Bill Gates recently had a change of heart, as he wrote in his “Gates Notes” blog: “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. There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”
The decision was also likely shaped by the changing landscape of public health funding, most recently embodied by the closure of USAID, the federal government’s arm that spent billions to fight global poverty and help those in need.
https://finance.yahoo.com/news/gates-foundation-ceo-mark-suzman-explains-why-it-was-more-important-than-ever-to-announce-closure-plans-230547562.html