SEATTLE (AP) — Bill Gates says he will donate 99% of his remaining tech fortune to the Gates Foundation, which will now close in 2045, earlier than previously planned. Today, that would be worth an estimated $107 billion.
The pledge is among the largest philanthropic gifts ever – outpacing the historic contributions of industrialists like John D. Rockefeller and Andrew Carnegie when adjusted for inflation. Only Berkshire Hathaway investor Warren Buffett's pledge to donate his fortune — currently estimated by Forbes at $160 billion — may be larger depending on stock market fluctuations.
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FILE - Co-chair of the Bill & Melinda Gates Foundation Melinda French Gates smiles as she leaves June 23, 2023 the Elysee Palace in Paris. (AP Photo/Christophe Ena, file)
People walk by a Gates Foundation sign at the foundation's campus Wednesday, April 30, 2025, in Seattle. (AP Photo/Lindsey Wasson)
FILE - Bill Gates speaks during the Global Fund's Seventh Replenishment Conference, Sept. 21, 2022, in New York. (AP Photo/Evan Vucci, File)
Gates Foundation CEO Mark Suzman poses for a portrait at the Gates Foundation campus Wednesday, Feb. 12, 2025, in Seattle. (AP Photo/Lindsey Wasson)
FILE - Berkshire Hathaway Chairman and CEO Warren Buffett smiles during an interview in Omaha, Neb., May 7, 2018, with Liz Claman on Fox Business Network's "Countdown to the Closing Bell". (AP Photo/Nati Harnik, File)
Gates' donation will be delivered over time and allow the foundation to spend an additional $200 billion over the next 20 years. The foundation already has an endowment of $77 billion built from donations from Gates, Melinda French Gates and Buffett.
“It’s kind of thrilling to have that much to be able to put into these causes,” Gates said in an interview with The Associated Press.
His announcement Thursday signals both a promise of sustained support to those causes, particularly global health and education in the U.S., and an eventual end to the foundation’s immense worldwide influence. Gates says spending down his fortune will help save and improve many lives now, which will have positive ripple effects well beyond the foundation's closure. It also makes it more likely that his intentions are honored.
“I think 20 years is the right balance between giving as much as we can to make progress on these things and giving people a lot of notice that now this money will be gone,” Gates said.
The pledge is “a welcome bit of boldness,” at a time when optimism is in short supply said, Rhodri Davies, a philanthropy expert and author of the publication, “Public Good by Private Means.”
“This announcement seems like yet more evidence that norms in foundation philanthropy might be shifting” away from a default of operating in perpetuity, he said.
The Gates Foundation has long been peerless among foundations — attracting supporters and detractors but also numerous unfounded conspiracy theories.
In addition to the $100 billion it has spent since its founding 25 years ago, it has directed scientific research, helped develop new technologies, and nurtured long-term partnerships with countries and companies.
About 41% of the foundation’s money so far has come from Warren Buffett and the rest from the fortune Gates made at Microsoft.
Started by Bill Gates and Melinda French Gates in 2000, the foundation plays a significant role in shaping global health policy and has carved out a special niche by partnering with companies to drive down the cost of medical treatments so low- and middle-income countries could afford them.
“The foundation work has been way more impactful than I expected,” Gates said, calling it his second and final career.
The foundation’s influence on global health — from the World Health Organization to research agendas — is both a measure of its success and a magnet for criticism. For years, researchers have asked why a wealthy family should have so much sway over how the world improves people’s health and responds to crises.
Gates said, like any private citizen, he can choose how to spend the money he earns and has decided to do everything he can to reduce childhood deaths.
“Is that a bad thing? It’s not an important cause? People can criticize it,” he said, but the foundation will stick to its global health work.
The Associated Press receives financial support for news coverage in Africa from the Gates Foundation and for news coverage of women in the workforce and statehouses from Melinda French Gates’ organization, Pivotal Ventures.
The foundation’s most prized metric is the drop in childhood deaths from preventable causes by almost half between 2000 and 2020, according to United Nations figures. The foundation’s CEO Mark Suzman is careful to say they do not take credit for this accomplishment. But he believes they had a “catalytic role” — for example, in helping deliver vaccines to children through Gavi, the vaccine alliance they helped create.
The foundation still has numerous goals — eradicating polio, controlling other deadly diseases, like malaria, and reducing malnutrition, which makes children more vulnerable to other illnesses.
Gates hopes that by spending to address these issues now, wealthy donors will be free to tackle other problems later.
The Gates Foundation had planned to wind down two decades after Gates' death, meaning today’s announcement significantly moves up that timetable. Gates plans to stay engaged, though at 69, he acknowledged he may not have a say.
In its remaining two decades, the foundation will maintain a budget of around $9 billion a year, which represents a leveling off from its almost annual growth since 2006, when Buffett first started donating.
Suzman expects the foundation will narrow its focus to top priorities.
“Having that time horizon and the resources just puts an even greater burden on us to say, ‘Are you actually putting your resources, your thumb down, on what are going to be the biggest, most successful bets rather than scattering it too thinly?’" Suzman said, which he acknowledged was creating uncertainty even within the foundation about what programs would continue.
Major changes preceded the foundation's 25th year.
In 2021, Melinda French Gates and Bill Gates divorced, and Buffett resigned as the foundation’s trustee. They recruited a new board of trustees to help govern the foundation, and in 2024, French Gates left to continue work at her own organization.
French Gates said she decided to step down partly to focus on countering the rollback of women’s rights in the U.S. At the ELLE Women of Impact event in New York in April, she said she wanted to leave the foundation at a high point.
“I so trusted Mark Suzman, the current CEO," she said. “We had a board in place that I helped put in place, and I knew their values.”
Even as the foundation’s governance stabilizes, the road ahead looks difficult. Enduring conflicts in Ukraine and Gaza, global economic turmoil and cuts to foreign aid forecast fewer resources coming to global health and development.
“The greatest uncertainty for us is the generosity that will go into global health,” Gates said. “Will it continue to go down like it has the last few years or can we get it back to where it should be?”
Even facing these obstacles, Gates and the foundation speak, as they often do, with optimism, pointing to innovations they’ve funded or ways they’ve helped reduce the cost of care.
“It’s incredible to come up with these low-cost things and tragic if we can’t get them out to everyone who needs them,” Gates said. “So it’s going to require renewing that commitment of those who are well off to help those who are in the greatest need.”
Associated Press coverage of philanthropy and nonprofits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.
FILE - Co-chair of the Bill & Melinda Gates Foundation Melinda French Gates smiles as she leaves June 23, 2023 the Elysee Palace in Paris. (AP Photo/Christophe Ena, file)
People walk by a Gates Foundation sign at the foundation's campus Wednesday, April 30, 2025, in Seattle. (AP Photo/Lindsey Wasson)
FILE - Bill Gates speaks during the Global Fund's Seventh Replenishment Conference, Sept. 21, 2022, in New York. (AP Photo/Evan Vucci, File)
Gates Foundation CEO Mark Suzman poses for a portrait at the Gates Foundation campus Wednesday, Feb. 12, 2025, in Seattle. (AP Photo/Lindsey Wasson)
FILE - Berkshire Hathaway Chairman and CEO Warren Buffett smiles during an interview in Omaha, Neb., May 7, 2018, with Liz Claman on Fox Business Network's "Countdown to the Closing Bell". (AP Photo/Nati Harnik, File)
A group of Buddhist monks and their rescue dog are striding single file down country roads and highways across the South, captivating Americans nationwide and inspiring droves of locals to greet them along their route.
In their flowing saffron and ocher robes, the men are walking for peace. It's a meditative tradition more common in South Asian countries, and it's resonating now in the U.S., seemingly as a welcome respite from the conflict, trauma and politics dividing the nation.
Their journey began Oct. 26, 2025, at a Vietnamese Buddhist temple in Texas, and is scheduled to end in mid-February in Washington, D.C., where they will ask Congress to recognize Buddha’s day of birth and enlightenment as a federal holiday. Beyond promoting peace, their highest priority is connecting with people along the way.
“My hope is, when this walk ends, the people we met will continue practicing mindfulness and find peace,” said the Venerable Bhikkhu Pannakara, the group’s soft-spoken leader who is making the trek barefoot. He teaches about mindfulness, forgiveness and healing at every stop.
Preferring to sleep each night in tents pitched outdoors, the monks have been surprised to see their message transcend ideologies, drawing huge crowds into churchyards, city halls and town squares across six states. Documenting their journey on social media, they — and their dog, Aloka — have racked up millions of followers online. On Saturday, thousands thronged in Columbia, South Carolina, where the monks chanted on the steps of the State House and received a proclamation from the city's mayor, Daniel Rickenmann.
At their stop Thursday in Saluda, South Carolina, Audrie Pearce joined the crowd lining Main Street. She had driven four hours from her village of Little River, and teared up as Pannakara handed her a flower.
“There’s something traumatic and heart-wrenching happening in our country every day,” said Pearce, who describes herself as spiritual, but not religious. “I looked into their eyes and I saw peace. They’re putting their bodies through such physical torture and yet they radiate peace.”
Hailing from Theravada Buddhist monasteries across the globe, the 19 monks began their 2,300 mile (3,700 kilometer) trek at the Huong Dao Vipassana Bhavana Center in Fort Worth.
Their journey has not been without peril. On Nov. 19, as the monks were walking along U.S. Highway 90 near Dayton, Texas, their escort vehicle was hit by a distracted truck driver, injuring two monks. One of them lost his leg, reducing the group to 18.
This is Pannakara's first trek in the U.S., but he's walked across several South Asian countries, including a 112-day journey across India in 2022 where he first encountered Aloka, an Indian Pariah dog whose name means divine light in Sanskrit.
Then a stray, the dog followed him and other monks from Kolkata in eastern India all the way to the Nepal border. At one point, he fell critically ill and Pannakara scooped him up in his arms and cared for him until he recovered. Now, Aloka inspires him to keep going when he feels like giving up.
“I named him light because I want him to find the light of wisdom,” Pannakara said.
The monk's feet are now heavily bandaged because he's stepped on rocks, nails and glass along the way. His practice of mindfulness keeps him joyful despite the pain from these injuries, he said.
Still, traversing the southeast United States has presented unique challenges, and pounding pavement day after day has been brutal.
“In India, we can do shortcuts through paddy fields and farms, but we can’t do that here because there are a lot of private properties,” Pannakara said. “But what’s made it beautiful is how people have welcomed and hosted us in spite of not knowing who we are and what we believe.”
In Opelika, Alabama, the Rev. Patrick Hitchman-Craig hosted the monks on Christmas night at his United Methodist congregation.
He expected to see a small crowd, but about 1,000 people showed up, creating the feel of a block party. The monks seemed like the Magi, he said, appearing on Christ’s birthday.
“Anyone who is working for peace in the world in a way that is public and sacrificial is standing close to the heart of Jesus, whether or not they share our tradition,” said Hitchman-Craig. “I was blown away by the number of people and the diversity of who showed up.”
After their night on the church lawn, the monks arrived the next afternoon at the Collins Farm in Cusseta, Alabama. Judy Collins Allen, whose father and brother run the farm, said about 200 people came to meet the monks — the biggest gathering she’s ever witnessed there.
“There was a calm, warmth and sense of community among people who had not met each other before and that was so special,” she said.
Long Si Dong, a spokesperson for the Fort Worth temple, said the monks, when they arrive in Washington, plan to seek recognition of Vesak, the day which marks the birth and enlightenment of the Buddha, as a national holiday.
“Doing so would acknowledge Vesak as a day of reflection, compassion and unity for all people regardless of faith,” he said.
But Pannakara emphasized that their main goal is to help people achieve peace in their lives. The trek is also a separate endeavor from a $200 million campaign to build towering monuments on the temple’s 14-acre property to house the Buddha’s teachings engraved in stone, according to Dong.
The monks practice and teach Vipassana meditation, an ancient Indian technique taught by the Buddha himself as core for attaining enlightenment. It focuses on the mind-body connection — observing breath and physical sensations to understand reality, impermanence and suffering. Some of the monks, including Pannakara, walk barefoot to feel the ground directly and be present in the moment.
Pannakara has told the gathered crowds that they don't aim to convert people to Buddhism.
Brooke Schedneck, professor of religion at Rhodes College in Memphis, Tennessee, said the tradition of a peace walk in Theravada Buddhism began in the 1990s when the Venerable Maha Ghosananda, a Cambodian monk, led marches across war-torn areas riddled with landmines to foster national healing after civil war and genocide in his country.
“These walks really inspire people and inspire faith,” Schedneck said. “The core intention is to have others watch and be inspired, not so much through words, but through how they are willing to make this sacrifice by walking and being visible.”
On Thursday, Becki Gable drove nearly 400 miles (about 640 kilometers) from Cullman, Alabama, to catch up with them in Saluda. Raised Methodist, Gable said she wanted some release from the pain of losing her daughter and parents.
“I just felt in my heart that this would help me have peace,” she said. “Maybe I could move a little bit forward in my life.”
Gable says she has already taken one of Pannakara’s teachings to heart. She’s promised herself that each morning, as soon as she awakes, she’d take a piece of paper and write five words on it, just as the monk prescribed.
“Today is my peaceful day.”
Freelance photojournalist Allison Joyce contributed to this report.
Associated Press religion coverage receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.
Buddhist monks who are participating in the, "Walk For Peace," get lunch Thursday, Jan. 8, 2026, in Saluda, S.C. (AP Photo/Allison Joyce)
Aloka rests with Buddhist monks who are participating in the, "Walk For Peace," Thursday, Jan. 8, 2026, in Saluda, S.C. (AP Photo/Allison Joyce)
A sign is seen greeting the Buddhist monks who are participating in the, "Walk For Peace," Thursday, Jan. 8, 2026, in Saluda, S.C. (AP Photo/Allison Joyce)
Supporters pray with Buddhist monks who are participating in the, "Walk For Peace," Thursday, Jan. 8, 2026, in Saluda, S.C. (AP Photo/Allison Joyce)
Supporters watch Buddhist monks who are participating in the, "Walk For Peace," Thursday, Jan. 8, 2026, in Saluda, S.C. (AP Photo/Allison Joyce)
A Buddhist monk ties a prayer bracelet around the wrist of Josey Lee, 2-months-old, during the, "Walk For Peace," Thursday, Jan. 8, 2026, in Saluda, S.C. (AP Photo/Allison Joyce)
Bhikkhu Pannakara, a spiritual leader, speaks to supporters during the, "Walk For Peace," Thursday, Jan. 8, 2026, in Saluda, S.C. (AP Photo/Allison Joyce)
Buddhist monks participate in the, "Walk For Peace," Thursday, Jan. 8, 2026, in Saluda, S.C. (AP Photo/Allison Joyce)
Buddhist monks participate in the, "Walk For Peace," Thursday, Jan. 8, 2026, in Saluda, S.C. (AP Photo/Allison Joyce)
Bhikkhu Pannakara leads other buddhist monks in the, "Walk For Peace," Thursday, Jan. 8, 2026, in Saluda, S.C. (AP Photo/Allison Joyce)
Audrie Pearce greets Buddhist monks who are participating in the, "Walk For Peace," Thursday, Jan. 8, 2026, in Saluda, S.C. (AP Photo/Allison Joyce)
Bhikkhu Pannakara, a spiritual leader, speaks to supporters during the, "Walk For Peace," Thursday, Jan. 8, 2026, in Saluda, S.C. (AP Photo/Allison Joyce)
Buddhist monks who are participating in the, "Walk For Peace," arrive in Saluda, Thursday, Jan. 8, 2026, in Saluda, S.C. (AP Photo/Allison Joyce)
Buddhist monks who are participating in the, "Walk For Peace," are seen with their dog, Aloka, Thursday, Jan. 8, 2026, in Saluda, S.C. (AP Photo/Allison Joyce)
