Bill & Melinda Gates Foundation plan to close the Foundation Trust is in contrast to most large charitable foundations that have no set closure date. This is intended to lower administrative costs over the years of the Foundation Trust's life and ensure that the Foundation Trust not fall into a situation where the vast majority of its expenditures are on administrative costs, including salaries, with only token amounts contributed to charitable causes. Bill & Melinda Gates Foundation Bill & Melinda Gates Foundation (BMGF), previously branded as the 'William H. Gates Foundation', is a private foundation founded by Bill and Melinda Gates. It was launched in
Bill Gates (frontiersman) Bill Gates (frontiersman) "Swiftwater" Bill Gates (died 1935) was an American frontiersman and fortune hunter, and a fixture in stories of the Klondike Gold Rush. He made and lost several fortunes, and died in Peru in 1935 pursuing a silver strike. In one famous Klondike story he presented Dawson dance hall girl Gussie Lamore her weight in gold. Gates was married briefly to Grace Lamore in 1898; he later married Bera Beebe, with whom he fathered two sons, Fredrick and Clifford. Gates subsequently abandoned her for 15-year-old Kitty Brandon, his niece. His biography "The True Life Story of Swiftwater Bill