Bill Gates tells his foundation to spend it all by 2045

The Gates Foundation received a death sentence of sorts today.

Microsoft co-founder turned billionaire philanthropist Bill Gates said today that his foundation will have just 20 years to exhaust its coffers and wind down operations. He has pledged to donate 99% of his fortune, which today is worth an estimated $107 billion, to the foundation. Over the next 20 years of donations, he expects the foundation to spend more than $200 billion.

“This decision comes at a moment of reflection for me,” Gates wrote on his website, Gates Notes. “In addition to celebrating the foundation’s 25th anniversary, this year also marks several other milestones: It would have been the year my dad, who helped me start the foundation, turned 100; Microsoft is turning 50; and I turn 70 in October.”

The total of Gates’s donation is expected to be the second-largest philanthropic gift in U.S. history, adjusted for inflation. Warren Buffett, whose net wealth is estimated at $160 billion, is anticipated to be the largest.

Previously, the Gates Foundation was directed to close 20 years after Gates’s death. The 69-year-old Microsoft founder appears to be in good health, so this marks a significant shift in the foundation’s timeline.

The 25-year-old Gates Foundation has already spent more than $100 billion on a range of causes centered mostly around health, education, global development, and gender equality.

Many of the Gates Foundation’s beneficiaries have been people in low-income countries with endemic and frequently deadly diseases like malaria.

The news arrives as the Trump administration has moved to slash foreign aid. USAID, one of the agencies hit by Trump’s cuts, managed more than $35 billion of congressional appropriations annually. The Gates Foundation said it expects to spend around $9 billion per year through 2045.