Bill Gates has made his biggest donation to philanthropic cause since the beginning of the century. Gates has given away Microsoft Corp share, which accounts for 5% of his fortunes to the Bill & Melinda Gates Foundation.
According to filings with the Securities & Exchange Commission, the 5% Microsoft Corp shares given away by Gates is worth $4.6 billion. Gates made this donation on June 6th, 2017.
The beneficiaries of the donation are not yet specified, but the funds are with the Bill & Melinda Gates Foundation. A charity program run by Mr. and Mrs. Gates, which has a philanthropic footprint across the world; whether is funding for a new medical research, vaccination campaign in developing countries among others.
This is the largest donation coming from the Microsoft co-founder since the year 2000. Earlier than that, he had given away a $61 million donation (again in the form of Microsoft Corp shares) in 1999, and another $5.1 billion donation in the year after that.
To date, Gates is said to have directed over 700 million shares of Microsoft towards his foundation; adjusting for stock splits. Had he held on to those shares, they would be worth over $50 billion today. With the June donation, Gates has reduced his stake at the Microsoft from 24% in 1996 to just 1.3% today.
Bill and Melinda Gates have given away $35 billion in donation
According to two decades worth of tax returns, annual reports, and regulatory filings, Mr. and Mrs. Gates have given away $35 billion in the form of cash and stock since 1994. That is according to the worth of their shares at the time of giving; it must be higher as per current market worth of the shares.
Bill Gates partnered with Warren Buffet to launch Giving Pledge
Gates joined fellow billionaire Warren Buffet, and together they launched the Giving Pledge in 2010. The philanthropic vehicle has now registered at least other 168 affluent philanthropists who promised to give a huge chunk of their wealth to charity.