Bill Gates Donates $6 Billion Worth of Shares to Charity

Bill Gates Donates $6 Billion Worth of Shares to Charity

  • Bill Gates has given about $6 billion worth of shares to his Foundation, the Bill and Melinda Gates Foundation
  • The donation which was revealed in a recent SEC filing said that the billionaire gave about $5.2 billion worth of stock from shares in the National Canadian Company
  • He also gave about $995 million from his stock in an equipment company as well as $3 million from his company, Cascade

The world’s biggest philanthropist, Bill Gates has made good of his words and has given about $6 billion worth of shares to his charity organisation, The Bill and Melinda Gates Foundation.

The Billionaire who had said earlier this month he would want to drop off the billionaires' list stated this in SEC filings.

Bill Gates, Bill and Melinda Gates Foundation
Bill Gates Credit: Dimitrios Kambouris / Staff
Source: Getty Images

Gave away billions from different companies

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Business Insider reports that the Microsoft founder gave about $5.2 billion worth of stock from his Canadian National Railway Company to the Bill and Melinda Gates Foundation.

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Additionally, the billionaire gave $995 million worth of shares in Deere & Co, an American company which deals in heavy equipment and a manufacturing company which he co-owns with his ex-wife, Melinda French Gates.

Reports say that another $3 million set of shares was moved from his investment vehicle, Cascade Investment L.L.C. to the same foundation.

Irrespective of the distribution of his vast wealth, Gates still remains among the top five richest people in the world.

The billionaire stated on Twitter last week on Twitter that he had pledged to give about $20 billion to charity organisations in July alone, saying he intends to give away almost all his wealth to charity in the future.

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A promise kept

Last week in a post on Twitter, the billionaire pledged to give $20 billion to the charitable foundation this month alone and went further to say that he intends to give away virtually all of his wealth in the future.

Gates said:

As I look to the future, I plan to give virtually all of my wealth to the foundation. I will move down and eventually off of the list of the world’s richest people.

“I have an obligation to return my resources to society in ways that have the greatest impact for reducing suffering and improving lives. And I hope others in positions of great wealth and privilege will step up in this moment too”.

The Bill and Melinda Gates Foundation has stated its plans to increase the annual donations to about $9 billion by 2026 and told the public of Warren Buffet’s contribution to the Foundation.

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Indian billionaire overtakes Bill Gates as world’s fourth richest man

Legit.ng reports that weeks after he said he wants to drop off the world’s richest people table, Indian businessman, Gutam Adani has dusted Microsoft Founder, Bill Gates as the world’s fourth richest man, according to multiple reports.

The 60-year-old business mogul’s net worth reached $115.5 billion on Thursday, July 21, 2022, wiping off Gates’ fortunes which currently stands at $104.6 billion.

Source: Legit.ng

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