wnol.info September 21 2017

Bill Gates gives £3.6bn to charity

September 21 2017, 02:21 | Alonzo Simpson

Gates listed for charity $4.6 billion

Bill Gates donates $4.6 billion worth of Microsoft stock to his foundation

The billionaire philanthropist has donated the Microsoft shares to the Bill & Melinda Gates Foundation on June 6.

The donation was made in June but became public on Monday following the filing of a document with the US Securities and Exchange Commission.

Bill Gates has continued his philanthropic drive with his largest donation to charity since the year 2000.

It is known that since 1994, gates and his wife gave to charity about $35 billion.

Now the richest man in the world, Gates' donation represent about 5% of his current $90bn fortune. Gates now holds less than 2 per cent of Microsoft's shares. To recall, he gave away about $16 billion worth of the stock in 1999. Gates is the second largest and current Microsoft CEO Satya Nadella is No. 3.

In 2010, Gates joined with Warren Buffett to create the Giving Pledge, in which they promised to give away the bulk of their fortunes and challenging other megawealthy individuals to do the same.

Gates probably has directed more than 700 million shares of Microsoft into the foundation, adjusting for stock splits, and he would be about US$50 billion richer today had he kept them. Microsoft stock now accounts for just 9 per cent of his overall net worth, which stood at an estimated $85.2 billion, according to Forbes.

Mr Gates has been the richest man in the world since 2013, apart from briefly being overtaken by Amazon's Jeff Bezos for a couple of hours when the technology company's shares spiked before dropping back.

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