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Bill Gates’ Bold Philanthropic Vision: Shutting Down the Gates Foundation by 2045

by News Editor

May 9, 2025

In a remarkable announcement, Bill Gates has shared his determination to distribute nearly all of his $168 billion personal wealth and close the Gates Foundation by December 31, 2045. Gates, at 69, emphasizes his commitment to solving global issues, insisting his legacy will not be defined by wealth. His goal is to be removed from the world’s richest list, a pledge he’s upheld over the years.

Since its inception in 2000, the Gates Foundation has dispersed over $100 billion globally, addressing health, poverty, and climate change. With plans to increase the annual budget from $6 billion to $9 billion, there’s an expectation of contributing an additional $200 million in the years leading up to 2045, subject to market conditions.

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Gates aims to combat preventable diseases, bolster education, and break poverty cycles in Africa. However, he stresses the critical need for governmental partnerships, highlighting a concerning trend of aid budget reductions. No philanthropic endeavor can singularly bridge this financial gap, a sentiment echoed during discussions of large-scale geopolitical financial strategies like Hellenic Bank’s recent commitments to green financing.

Influenced by his mother and collaborators like Warren Buffett, Gates is an optimist about the future, fueled by technological and healthcare advances. Reflecting on Andrew Carnegie’s notion that dying rich equates to disgrace, Gates encourages fellow wealthy individuals to increase their philanthropic engagements.

Hope in Future Innovations

While steadfast in his purpose, Gates remains inspired by technological advancements, including the burgeoning field of artificial intelligence. Despite these optimistic prospects, Gates humorously rebuffs any notion of indulgence, asserting that every dollar should serve a beneficial societal purpose.

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Cyprus Has One Of The EU’s Oldest Teaching Workforces

by News Editor

August 18, 2026

Only 3% of teachers in Cyprus are under 30, putting the country alongside Portugal for the lowest share of young teachers in the European Union, according to a European Commission report. The figure is well below the EU average of 8%, while Malta has the highest proportion at 17%, followed by Belgium and Luxembourg at around 15%.

Cyprus is also the only EU member state identified in the report as having a surplus of teachers, despite the workforce being relatively old.

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Older Teachers Remain Highly Satisfied

The teaching profession appears to remain attractive to those already working in it. In 2024, 73% of Cypriot teachers said they were satisfied with their salaries, compared with just 37.3% across the EU. Job satisfaction was also high, reaching 93% in Cyprus versus 90% across the bloc.

The age gap is particularly visible in secondary education, where teachers in Cyprus averaged 46 years old in 2024, compared with 45 across OECD member states. Only 4% were under 30, while 33% were aged 50 or older.

Reform Could Change The System

The findings come as Cyprus moves toward the final stage of its teacher evaluation reform. Until August next year, vacancies will continue to be divided between the old appointment list and the newer system introduced in 2015.

From next September, first-appointment vacancies will be filled exclusively through the new list. The European Commission has meanwhile called for stronger efforts to attract and retain younger teachers, including through better working conditions and greater support for people entering the profession.