Bill Gates plans to give away nearly all of his personal wealth and shutter the Gates Foundation within 20 years, the billionaire announced in a blog post on Thursday.

“People will say a lot of things about me when I die, but I am determined that ‘he died rich’ will not be one of them,” wrote Gates, 69. “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”

The Microsoft co-founder, whose net worth Bloomberg currently estimates at $168 billion, has pledged for years to give away most of his wealth to his philanthropic foundation. His eventual goal is to drop “off of the list of the world’s richest people,” he wrote in a social media post in July 2022.

Now, Gates has set a specific timeline for disbursing his fortune: The Gates Foundation is set to close its doors on December 31, 2045. Since the Foundation’s launch in 2000, it has contributed more than $100 billion to global causes — particularly working to eradicate diseases and poverty, address climate change and expand access to healthcare and education.

Gates estimates the Foundation will be able to double that total, and hand out another $200 billion between now and 2045, depending on factors such as inflation and market performance, he wrote. He plans to increase its annual budget from $6 billion to $9 billion.

Among his goals for the next two decades, he wrote:

• Further reducing the deaths of mothers and young children from preventable causes
• Helping eradicate diseases like polio, malaria, measles and Guinea-worm disease
• Funding advances in education and agriculture in African nations to help “hundreds of millions of people break free from poverty”

While Gates is “hopeful” the Foundation can meet those goals, he’s also realistic: “None of this progress is possible without partnership from governments,” he wrote. His announcement comes at a time when world governments, particularly the U.S., have been slashing their global aid budgets “by tens of billions of dollars,” he noted.

Gates expressed concern that philanthropic organizations like his won’t be able to fill the void in global aid left by recent government cuts.

“No philanthropic organization — even one the size of the Gates Foundation — can make up the gulf in funding that’s emerging right now,” he wrote. “It’s unclear whether the world’s richest countries will continue to stand up for its poorest people.”

Gates described the influences in his life that shaped his commitment to philanthropy, starting with his mother, Mary Gates, who died in 1994. She was a staunch believer in the idea that “to whom much is given much is expected,” Gates wrote.

After Microsoft became successful and Gates became, for a time, the wealthiest person in the world, his mother reminded him that he “was just a steward of any wealth” he accumulated, and that he had a moral and societal obligation to give back, he wrote. Gates’ father shared the same view and was co-chair of the Gates Foundation until his death in 2020.

Gates’ stance on philanthropy was also influenced by longtime friend and fellow billionaire Warren Buffett, who has already donated tens of billions of dollars to charities and has tasked his children with giving away 99% of his remaining wealth after he dies. Buffett “remains the ultimate model of generosity,” Gates wrote. “He was the first one who introduced me to the idea of giving everything away.”

Together with Buffett, Gates and now-ex-wife Melinda French Gates co-founded the Giving Pledge in 2010. Since then, more than 240 billionaires have signed it, committing to give away the bulk of their fortunes in their lifetimes.

In his post, Gates also cited the influence of Gilded Age steel tycoon Andrew Carnegie, whose 1889 essay “The Gospel of Wealth” is considered a model for modern philanthropy. Reading that essay decades ago, Gates said that he was struck by the line “the man who dies thus rich dies disgraced.”

“I have spent a lot of time thinking about that quote lately,” wrote Gates, adding that it influenced his decision to move more quickly with his donations. “I hope other wealthy people consider how much they can accelerate progress for the world’s poorest if they increased the pace and scale of their giving, because it is such a profoundly impactful way to give back to society.”

Gates is “by nature an optimistic person” who expects many global conditions to improve in the coming decades, due largely to advances in technology and healthcare, he told The New York Times on Thursday,. At least some of that progress, he said , could be spurred by the rapid scaling of artificial intelligence.

“I think it’s objective to say to you that things will be better in the next 20 years,” said Gates.

He noted, though, that he’d still be inclined toward philanthropy if he didn’t feel optimistic.

“Let’s say somebody convinced me otherwise,” Gates said. “What am I going to do? Just go buy a bunch of boats or something? Go gamble? This money should go back to society in the way that it has the best chance of causing something positive to happen.”

Clarification: This story has been updated to reflect that Gates estimates his foundation will hand out $200 billion between now and 2045.

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Have you ever been in a work meeting or social gathering where one person just won’t stop talking? It’s really frustrating, especially when you have something to say.

As a global communication expert, I work with a lot of smart, polite people who feel like it’s rude to interrupt. However, in my book, “Smart, Not Loud: How to Get Noticed at Work for All the Right Reasons,” I talk about how important it is for you to speak up, especially if you have something important to add to the conversation. 

Here are three things you need to do:

The first step is to not think of interrupting as a bad thing. Instead, you’re part of the conversation and your thoughts are just as valued as everyone else’s.

Now, with the right mindset, how do you actually get a word in? 

When you find that opportune time to chime in, the first thing you’ll want to say is the person’s name. Research shows our brain lights up when we hear our name being called. It signals to us the flow of the conversation has changed, and we intuitively pause to see what’s going on. 

So say the person’s name firmly and politely. This combination showcases both confidence and presence without coming across as confrontational. 

Next, reroute the conversation to what you want to talk about. Be strategic by showing that you’re collaborative and trying to expand on their thoughts. People love to feel like their ideas were acknowledged and it also creates a seamless conversational flow.

For example, you might say: 

• “Jennifer, I heard what you said about the client’s concern, and it made me think about the approach we used with another client a few years ago…” 
• “Ben, that’s a good point on the project timeline, but Lisa, what’s your take on this from a marketing perspective?”
• “Maya, I agree with you. What you’re saying makes me think of this book I just read…” 
• “Carter, I was silently nodding when you said that because it reminded me of what I experienced last week…” 

When someone feels listened to and heard, they’re more likely to back down and make way for others to speak. Now, you can drive the conversation to what you really want to talk about. 

If you’re not sure exactly how to phrase your interjection, try this sentence — whether you’re in a work brainstorm or a book club meeting: 

″[Person’s name], can I jump in real quick here? I’d love to open up the conversation…”

For example: 

• “Leo, can I jump in real quick here? I’d love to open up the conversation to a slightly different angle.”
• “Jenn, can I jump in real quick here? I’d love to open up the conversation and see what everyone else thinks, too.” 

Let’s say you’ve used this simple strategy to firmly and politely interrupt a person dominating the conversation. But this person just won’t back down. What do you do? 

Being direct is key. If someone keeps going, it’s okay to assert yourself even more firmly and call out exactly what you’re doing. It’s also powerful to pose it as a question.

You might say:

• “Sam, I appreciate your thoughts, but I’d like to make sure others have a chance to weigh in as well right now. Do you mind if we open it up?”
• “Taylor, we know you feel strongly about this, but let’s give Eric a chance to speak too. Is that okay with you?”

At the end of the day, you want to create a respectful environment where everybody feels like they have a chance to talk. Speaking up doesn’t have to be loud or combative. It just has to be intentional. 

If you feel like someone is dominating the conversation and making it difficult for anyone else to get a word in, chances are other people feel the same. With this approach, you can speak up tactfully and politely, but firmly. And I guarantee others will appreciate you for doing it.  

Jessica Chen is a global communications expert, keynote speaker, and a former Emmy-award winning TV journalist. Her book “Smart, Not Loud: How to Get Noticed at Work for All the Right Reasons” teaches smart professionals how to develop workplace confidence and build a career they love using strategic communications skills to stand out. Connect with Jessica on LinkedIn and Instagram. 

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With decades of market-beating returns and a reputation for steady, disciplined management, Berkshire Hathaway is a long-standing favorite among investors.

Now, with 94-year-old CEO Warren Buffett announcing his retirement at the end of the year, the company is preparing for a major transition — marking the end of an era for one of the most admired leaders in American business.

Since Buffett took over in 1965, Berkshire has grown from a failing textile manufacturer into a $1.2 trillion conglomerate by acquiring what its CEO calls “wonderful businesses at fair prices” with strong long-term value. Berkshire owns a wide array of companies in industries ranging from railroads and insurance to ice cream and batteries.

Under Buffett’s leadership, the company’s stock has delivered an astronomical 5,502,284% gain, as of 2025 — compared with about 39,054% for the S&P 500 — according to the company’s most recent annual report.

Berkshire Hathaway shares have mostly outperformed the S&P 500 over just the last 20 years, too.

The company reported first-quarter operating earnings of $9.64 billion on Saturday, down 14% from a year earlier. Its stock underperformed expectations due largely to a decline in insurance underwriting profit, CNBC reported on Saturday.

Berkshire has two classes of stock: Class A and Class B. Class A shares are far more expensive and carry greater voting power. Class B shares are more accessible and widely held by individual investors. Earnings per Class B share came in at $4.47, below a consensus forecast of $4.72, according to FactSet estimates.

Here’s how much a $1,000 investment in Berkshire Hathaway would be worth today, depending on when that investment was made — based on its May 8 closing price for Class B shares.

If you invested one year ago:

• Percentage change: 26.3%
• Total: $1,263

If you invested 10 years ago:

• Percentage change: 246.1%
• Total: $3,461

If you invested 20 years ago:

• Percentage change: 817.8%
• Total: $9,178

Berkshire Hathaway has consistently outperformed the stock market, but financial experts generally recommend diversifying your investments and avoiding putting too much money into any one stock. Broad-based index funds tend to offer more consistent returns and lower fees than picking individual companies, financial planners say.

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Serena Williams and Alexis Ohanian are each millionaires — but that doesn’t mean they’re trying to raise entitled children.

Williams and Ohanian give their 7-year-old daughter Olympia a modest weekly allowance, Ohanian, 42, said in a video posted to social media platform X on April 24. “She gets $7 a week. Serena was her lawyer in the negotiation,” said Ohanian, who co-founded Reddit in 2005. “I drew up a real contract … Her mom was her counsel, which was really frustrating.”

Before receiving her payout, Olympia has to complete chores — five days per week — like feeding the dog, putting her clothes in a hamper and making her bed, Ohanian said. He and Williams want to teach their daughter the value of working for what she wants, he added.

At one point, Olympia saved up $100, and she wanted a $125 watch, said Ohanian. Closing that gap herself helped her “embrace that feeling” of work leading to reward, Ohanian said: “We’re trying to create that flywheel between doing the work and getting the money.”

Ohanian and Williams also have a 1-year-old daughter named Adira. Both parents worked from young ages: Williams, the highest-earning woman athlete of all time, made her professional tennis debut at age 14, and Ohanian was only 23 when Conde Nast acquired Reddit for $10 million in 2006.

Williams now has an estimated net worth of $340 million, according to Forbes. The publication estimated Ohanian’s net worth as $70 million, as recently as 2019. Both are currently active as startup investors, with Williams launching Serena Ventures in 2014 and Ohanian founding VC firm Seven Seven Six in 2020.

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Balancing their family’s comfortable lifestyle with a bit of frugality could help instill the same drive and responsibility in their kids that they felt growing up, Ohanian said.

“I need [Olympia] to feel that little bit of pain of, like, ‘Ugh, I gotta wait two more weeks for that paycheck,’ and then start to remember, ‘Because I do this work, I get this money,’” he said.

“We’re trying to build the muscle: work = reward,” Ohanian added in his post on X. “Good things come when you work for it.”

Teaching your children about financial literacy at a young age is a great way to set them up for success, according to parenting expert Margot Machol Bisnow, who interviewed the parents of 70 highly successful adults for her 2022 book, “Raising an Entrepreneur: How to Help Your Children Achieve Their Dreams.”

“Although the parents I spoke to never pushed their kids towards pursuing a high-paying job, all of them made an effort to teach their kids about money in one form or another,” Bisnow wrote for CNBC Make It in July 2022.

For example, try using physical cash to make purchases when your children are around, recommends Mellody Hobson, co-CEO of asset management firm Ariel Investments and author of the bestselling kids’ book “Priceless Facts About Money.”

Swiping a credit card or tapping a phone against a screen doesn’t quite convey the value of a dollar to kids as effectively as paper money or coins, Hobson said on a January 28 episode of “The Oprah Podcast.”

“For children, it’s on a credit card, a phone, or it spits out of a machine, so trying to explain that you work for it [is] super hard,” Hobson said, adding: “Use cash so they can see that it’s finite … and you don’t have an endless amount of it.”

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In 2020, right in the thick of the pandemic, I decided to put a tiny home in my backyard. 

At the time, I was operating several short-term rentals in Atlanta, including rooms within my three-bedroom primary home. But Covid-19 made renting safely a challenge. I figured the best way to keep passive income flowing — and myself safe — was to move into a smaller structure and list my main home on Airbnb.

So I started designing an accessory dwelling unit (ADU) — a self-contained structure on the same lot as a single-family or multifamily home. The 296-square-foot home was converted from a lofted shed and hooked up to my main home’s utilities. It cost about $35,000 to build, including the prefabricated structure, labor, and materials. 

As with many big ideas, things didn’t go as planned — and that turned out to be a blessing. Here are four ways I’ve used my ADU over the last five years: 

I finished building the tiny house in March 2021. After going over budget and falling behind schedule, I decided to list it as a short-term rental to recoup costs, charging between $89 and $129 per night. 

It quickly became one of the most popular units in my portfolio — thanks in part to my docuseries “Going Tiny,” which documented the entire build from sketch to rental.

Guests ranged from construction workers to couples and solo travelers looking for a more unique, personal experience than a hotel. It was rewarding to see people find joy in something I had envisioned and brought to life from scratch.

In 2022, I stepped away from Airbnb completely. As I shared more in my TEDx talk, “Why We Need to Rethink Housing Insecurity,” I felt torn, offering beautiful spaces to travelers while many locals lacked access to stable, long-term housing.

DON’T MISS: How to successfully change careers and be happier at work

So I shifted to mid- and long-term rentals, offering the ADU to grad students, travel nurses, and other professionals for about $1,300 a month. These were people who needed a home base near the city, but were often priced out of the market. 

During this phase, the ADU still generated income, but now it aligned with my values.

By early 2023, I was in a transitional season. I’d just ended a long-term relationship and I was craving solitude and a reset. That’s when I moved into the ADU myself.

For six months, I fully embraced tiny living in my own backyard, while renting out rooms in my main home to college students for a total of about $2,725 a month. It lowered my expenses and gave me a new appreciation for the space I’d once seen purely as an investment. 

It became a sanctuary — supporting both my finances and my healing from the breakup.

When my younger sister moved to Atlanta with her fiancé later that year, they were expecting their first child. I invited them to stay in the ADU, giving them a peaceful space to transition into parenthood without the pressure of paying high rent. They stayed rent-free the first few months, and then started contributing $1,200 a month.

It was the first time in nearly a decade that I’d lived in the same city as any of my family. Since leaving for college and moving to Atlanta solo, I had made friends and built community, but having my sister nearby was grounding in a way that nothing else had been. 

Our setup isn’t traditional, but it’s deeply fulfilling. We share meals, look out and show up for each other, and truly live in community. When I’m working long startup hours, it’s my sister making sure I eat. And in the quiet moments — late nights by the fire pit, spontaneous movie nights, or just checking in on each other — it feels like the best version of growing up together, but now as women building stability, sisterhood, and a sense of home side by side.

In 2024, our youngest sister moved to the city to attend Spelman College. Though she doesn’t live on the property, that makes two sisters, a nephew, a brother in law — who’s now like a brother to me — and a whole lot of joy and support in town.

Today, the ADU still houses my sister and her family. But more than that, it’s a symbol of what’s possible when we reimagine how we use the space we already have.

At a time when loneliness is a common problem and housing costs keep climbing, ADUs offer a powerful solution. They create flexibility, support multigenerational living, and can generate income when needed. 

I’ve seen firsthand what one small structure can do. And now, through my company Gather ADU, I help others do the same. Most of our builds so far have been in California. But just this month, we broke ground on our first ADU in Georgia for a close friend of mine who lives just a few blocks away. 

Five years ago, when I built my backyard tiny home, I had no idea it would lead to a business helping others create the same kind of space and community. But more than anything, I’ve learned ADUs aren’t just about housing — they’re about possibility, connection, and room to grow.

Precious Price is a TEDx speaker, real estate entrepreneur, and co-founder of Gather ADU, a startup helping homeowners and investors build backyard tiny homes and accessory dwelling units (ADUs) to create more housing and maximize their property value. She holds both a bachelor’s and master’s degree from the Indiana University Kelley School of Business. Follow her on Instagram, Twitter and YouTube.

Want a new career that’s higher-paying, more flexible or fulfilling? Take CNBC’s new online course How to Change Careers and Be Happier at Work. Expert instructors will teach you strategies to network successfully, revamp your resume and confidently transition into your dream career. Start today and use coupon code EARLYBIRD for an introductory discount of 30% off $67 (+taxes and fees) through May 13, 2025.