Monday, 23 October, 2017

Bill Gates Gives Out Highest Donation Since 2000

Bill Gates shares a very close bonhomie with Warren Buffett his friend for over 25 years Bill Gates shares a very close bonhomie with Warren Buffett his friend for over 25 years
Preston Stone | 16 August, 2017, 15:03

He has reportedly given away around 64 million worth of shares of Microsoft Corporation, which account for $4.6 billion in charity.

His donation, which was made on June 6, was recorded in a filing to the US Securities & Exchange Commission. As usual, the recipient of this donation will likely be Bill & Melinda Gates Foundation.

Also, Gates' ownership of Microsoft shares have dipped below 2 percent for the first time, he now owns about 1.3 percent.

The American billionaire, founder of Microsoft, bill gates made the largest donation to charity in 2000. He gave away US$16 billion worth of the stock in 1999 and US$5.1 billion a year later, according to calculations by Bloomberg. While in 2000 he gave away $5.1 billion.

The Microsoft co-founder has donated over $35 billion since 1994. However, the drop once again puts Amazon boss Jeff Bezos close to the top spot after he briefly leapfrogged Gates to become the world's richest person based on intraday prices last month.

Now the richest man in the world, Gates' donation represent about 5% of his current $90bn fortune.

After the donation, Ben Silverman, research director at InsiderScore, told Bloomberg, "It's a change in how he distributes that asset". Gates is the second largest and current Microsoft CEO Satya Nadella is No. 3.

The wealthiest foundation in America has gotten $4.6 billion bigger as Bill Gates announced the transfer of that much in Microsoft stock to augment the philanthropy he runs with his wife, Melinda.

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