Bill & Melinda Gates Foundation conducts all operations and grantmaking work, and it is the entity from which all grants are made". Also announced was the decision to "... spend all of [the Trust's] resources within 20 years after Bill's and Melinda's deaths". This would close the Bill & Melinda Gates Foundation Trust and effectively end the Bill & Melinda Gates Foundation. In the same announcement it was reiterated that Warren Buffett "... has stipulated that the proceeds from the Berkshire Hathaway shares he still owns at death are to be used for philanthropic purposes within 10 years after his estate has been settled". The
Thomas S. Gates Jr. Thomas S. Gates Jr. Thomas Sovereign Gates Jr. (April 10, 1906March 25, 1983) was United States Secretary of Defense from 1959 to 1961 under President Eisenhower. He was promoted from deputy secretary of defense. During his tenure, he established a task force to set nuclear target priorities. He also authorized U-2 reconnaissance flights, including the flight of Francis Gary Powers. Born in Germantown, Pennsylvania, Gates was the son of Thomas S. Gates Sr., an investment banker and lawyer who was president of the University of Pennsylvania from 1930 to 1944, and his wife, Marie ("née" Rogers) Gates. Gates graduated from