Bill Gates, the world’s richest person, has given away 64 million Microsoft shares, reducing his stake in company he co-founded to 1.3%.
In a filing to the Securities & Exchange Commission (SEC) on Monday, Gates revealed he was in the process of donating 64 million shares of his Microsoft shares, worth a massive $4.6 billion to charity.
Bill and Melinda Gates Charitable Foundation
While the exact final destination of the money has yet to be named, speculation amongst most commentators is that the near $5 billion gift will be directed to the charitable foundation he created with his wife back in the year 2000, with $5 billion of his own money. Called the Bill and Melinda Gates Charitable Foundation, the charity’s main aim is to improve global healthcare and reduce extreme poverty. We think that’s quite commendable.
The sale of the 64 million Microsoft shares would also be the largest gift he has donated to his charitable foundation since 2000.
Bill Gates is of course most famous for being a co-founder of Microsoft. While Microsoft was the main reason he has held the title of world’s richest man for the best part of 25 years, it apparently now only accounts for just under 10% of his current overall net worth.
His personal fortune is estimated to stand at around $84.5 billion, according to the Forbes websites; with stock currently accounting for just 9% of his overall net worth.
Still the champ
Even with this newest donation, Bill Gates still holds the title of world’s richest man. Earlier this month, the founder of Amazon briefly claimed Gates’ title to become the world’s richest man, but lost it again when the Amazon share price dropped… Sucks to be him.