Gates Foundation to spend $200 billion, wind down by 2045

The Gates Foundation announced on Thursday that it plans to spend $200 billion over the next two decades and cease operations by 2045.

"I will give away virtually all my wealth through the Gates Foundation over the next 20 years to the cause of saving and improving lives around the world," Bill Gates, the foundation's chair, said in a post on his personal website.

Founded in 2000, the foundation has contributed more than $100 billion to public causes, focusing primarily on global health, development and education in the United States.

In the years ahead, the foundation said it aims to help end preventable deaths of mothers and babies, protect future generations from deadly infectious diseases and lift millions more out of poverty.

"The Gates Foundation's mission remains rooted in the idea that where you are born should not determine your opportunities," Gates said. "I am excited to see how our next chapter continues to move the world closer to a future where everyone everywhere has the chance to live a healthy and productive life."

Gates Foundation CEO Mark Suzman said in an interview that the announcement is intended to spread hope and spur action.

"The last quarter century has seen the greatest improvements for the greatest number of people across the world, in a very geographically diverse way across Asia, Africa, Latin America," he said.

"These are historic changes, progress that affects literally hundreds of millions and ultimately billions of people," Suzman said. "It has happened in the last quarter century, and we are confident it can happen and even accelerate over the next two decades."

The foundation's cooperation with Chinese partners has yielded significant outcomes. Joint efforts have included expanding the uptake of human papillomavirus vaccines and advancing the development of innovative tools for the prevention, diagnosis and treatment of tuberculosis and other infectious diseases.