Bill Gates reduces Microsoft stake with $4.6bn donation

16 August, 2017, 15:05 | Author: Elaine Woods
  • Bill Gates donates $4.6 billion worth of Microsoft stock to his foundation

It's the largest gift of Microsoft shares that Gates has made since 2000. The second largest was made by Mr. (Warren) Buffett, who donated nearly $3.2bn to the Bill & Melinda Gates Foundation last month.

Microsoft Corporation shares were trading at $73.27 per share on Tuesday morning, down $0.32 (-0.43%).

The gift was not pledged to a specific entity, but in the past most of Gates' donations have gone to the Bill & Melinda Gates Foundation, which directs the money to various causes supported by Gates.

Mr Gates and his wife have donated $35bn since 1994.

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"Microsoft co-founder Bill Gates is reducing his stake in the company to just 1.3 percent, after holding 24 percent of the software maker back in 1996", said Fortune.

Spokesmen for Microsoft and Mr Gates did not immediately respond to requests for comment. Last year, Gates donated another Microsoft share sell off worth $16 billion to charity.

As per a Bill & Melinda Gates Foundation's most recent financial statement, after the most recent donation, Gates' overall charitable donations now account for approximately $50 billion. Before giving a large gift of 31 million shares in November of 2014, he was selling roughly 100 million shares per year. We've contacted representatives of Gates, Microsoft and the Gates Foundation for more information. The estimated net worth of Gates as of July 2017 is $89.9 billion.

Gates remains the richest person on Earth even after the donation, with a fortune the Bloomberg Billionaires Index values at £67bn.

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