Bill Gates, the world’s richest man, gave away his Microsoft Corp., shares and 5% of his fortune to the Bill and Melinda Gates Foundation, making it his single largest donation since 2000. He donated 64 million shares worth $ 4.6 billion according to a Securities & Exchange Commission (SEC) filing released on Monday.
The billionaire philanthropist started The Bill and Melinda Gates Foundation in 1994 and is said to be the largest transparently operated private foundation in the world. Since its inception, the duo have given away about $35 billion in stock and cash, according to a review of Gates Foundation tax returns, annual reports and regulatory filings. Bill Gates also started The Giving Pledge with fellow billionaire investor Warren Buffet, who has promised to give the majority of their wealth to charity, along with 168 other billionaires.
This $ 5 billion donation to charity is the biggest donation Gates has made since giving away $ 16 billion worth stock to the foundation in 1999 and $ 5.1 billion a year later. According to reports, Bill Gates has directed more than 700 million shares of Microsoft into the Gates Foundation. His donations have reduced his Microsoft stake to 1.3% from 24% in 1996 and would be worth over $ 50 billion today, had he held on to his holdings in the company.
American business magnate, investor and philanthropist Warren Buffett also donated close to $ 3.2 billion of his Berkshire Hathaway Inc., stock to 5 charities last month. The 86 year old Oracle of Ohama has approximately given $27.54 billion in donations since 2006 and is the world’s fourth richest person with a net worth of $ 76.4 billion.
According to Bloomberg Billionaires Index, Gates remains the richest person on earth even after the donation and is worth $ 86.1 billion. Jeff Bezos, who briefly dethroned Bill Gates as the richest person, is a close second, with a net worth of $84.5 billion.
Bill Gates recently joined the photo sharing platform Instagram to chronicle his journey and share the progress various countries have made through the foundation.