On May 8, Bill Gates announced plans to sunset the Gates Foundation, having pledged to give away over $200 billion, nearly all of his wealth by 2045. This decision, coinciding with Warren Buffettâs retirement from Berkshire Hathaway and similar philanthropy plans, marks a significant shift in the philanthropic landscape. The duo's legacy, which includes considerable investments in global health, poses questions about the future of ultrawealthy philanthropy and potential successors who will fill this void. As the Giving Pledge gains traction, the approach and visibility of billionaire philanthropy may evolve rapidly.
The recent announcements from Gates and Buffett signify a pivotal moment in philanthropy, potentially marking the end of a significant era of billionaire giving.
Gates' decision to wind down the Gates Foundation by 2045 and distribute over $200 billion reflects a transformative shift in how billionaires approach giving.
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