Art of giving: Bill Gates has reset billionaire philanthropy standards

The chosen year, 2045, is noteworthy. That is year his foundation plans to end operations. It is also year that Mr Gates will turn 90 and his personal wealth is expected to touch $200 bn

As one of the early generation of “nerd billionaires” who built personal fortunes on their computer skills, Microsoft founder Bill Gates has set standards in corporate philanthropy. Since it was set up in 2000, after Mr Gates stepped down as chief executive of Microsoft, the Gates Foundation has built itself a formidable reputation as a major player in global philanthropy, becoming the world’s third-largest charitable foundation with assets of $77 billion. By announcing in Addis Ababa on Tuesday that he would give away 99 per cent of his vast fortune to Africa by 2045, he has raised the bar even