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Bill Gates has announced plans to donate 99% of his remaining tech fortune to the Gates Foundation which is now set to close by 2045 earlier than originally planned. As of today his donation is valued at an estimated $107 billion. This pledge is the highest among the largest philanthropic contributions in history surpassing the adjusted-for-inflation donations of industrial titans like John D. Rockefeller and Andrew Carnegie. The only larger pledge comes from Berkshire Hathaway investor Warren Buffett whose fortune currently estimated at $160 billion by Forbes can exceed Gates gift depending on stock market fluctuations. Gates donation will be distributed over time so the foundation will allocate an additional $200 billion toward its initiatives over the next two decades. “Its 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 US and an eventual end to the foundations 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 foundations 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.  In a league of its own 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 foundations 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 foundations 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 peoples 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? Its 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. Major ambitions for the remaining 20 years The foundations 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 foundations 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. 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.   (With Inputs From AP)