Time and time again, Bill Gates has proven himself to be quite the philanthropist. In his latest charitable act, Gates has donated 64 million shares of Microsoft – which is worth a total of $4.6 billion. The donation will reduce Gates’ stake in Microsoft to just 1.3 percent (compared to 24 percent in 1996).
Bloomberg reports that the donation is the biggest since he gave away $16 billion worth of shares in 1999 and $5.1 billion in 2000. The news was revealed in a filing to the Securities & Exchange Commission (SEC) on Monday. The filing doesn’t reveal the benefactor of Gates’ donation.
Each year, Gates donates approximately 80 million Microsoft shares. The latest gift means that he has just 103 million shares left. The filing reveals that his wife, Melinda, holds nearly 425,000 Microsoft shares. If Gates continues to give away the shares, the philanthropist could reduce his stake in Microsoft to zero by 2019. To date, former Microsoft CEO Steve Ballmer is the largest holder of Microsoft Stock, followed by Gates, then the current Microsoft CEO Satya Nadella.
Even though the contribution is a massive sum in monetary terms, Bill Gates still holds the title of the richest person in the world. In fact, Bloomberg values Gates at $86.1 billion (down from $90 billion). Fortunately, he and Melinda have used their wealth to further progressive initiatives. They also intend to give away 95 percent of their wealth by the time they die — and that is commendable.