Gates Foundation plans to give away $9 billion in 2026 to prepare for the 2045 closure while slashing hundreds of jobs.

The article discusses the Gates Foundation's plans to close by 2045, as announced by Bill Gates and Melinda French Gates. The foundation, which has an endowment of $86 billion, will spend a record $9 billion this year and cut up to 500 staff positions over the next five years to accelerate its philanthropic efforts in global health, poverty, and education. This decision reflects a growing trend among mega-donors to adopt time-limited giving models, as exemplified by philanthropist MacKenzie Scott, who has donated significantly to various causes. The impending closure raises concerns for nonprofits that rely on the foundation's support, prompting questions about future funding sources and the responsibilities of other wealthy individuals. [Extracted from the article]