Published: Wed, August 16, 2017
Markets | By Terence Owen

Gates donates shares worth $4.6bn in biggest gift of century

Gates donates shares worth $4.6bn in biggest gift of century

Gates' friend and fellow billionaire Warren Buffett last month also made a $3.2 billion donation to the Gates foundation. He has reportedly given away around 64 million worth of shares of Microsoft Corporation, which account for $4.6 billion in charity.

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. Image via YouTube.comBill Gates is giving $4.6 billion to charity - probably his own foundation.

Billionaire Bill Gates made his largest gift since 2000, giving away Microsoft shares accounting for 5% of his fortune, Bloomberg reported on Tuesday. The 61-year-old gave away $16bn of Microsoft shares in 1999 and $5.1bn a year later.

So far, it is thought that Bill and Melinda Gates have donated $35 billion in total since 1994.

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While most still have their jaws laying on the floor at the amount Gates recently donated, keep in mind, the former Microsoft CEO routinely purges himself of portions of his wealthy war chest.

For now, Gates remains the richest man in the world. The estimated net worth of Gates as of July 2017 is $89.9 billion.

"It's a change in how he distributes that asset", said Ben Silverman, research director at InsiderScore, noting that Gates has been reducing his stake methodically for years through share sales to fund his foundation.

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