Date
19 November 2017
Bill Gates has slashed his stake in Microsoft to 3 percent after donating US$1.5 billion worth of shares to his charitable foundation. Photo:  Bloomberg
Bill Gates has slashed his stake in Microsoft to 3 percent after donating US$1.5 billion worth of shares to his charitable foundation. Photo: Bloomberg

Gates offloads US$1.5 bln Microsoft stock to foundation

Bill Gates is US$1.5 billion poorer but not much worse off — he is still the world’s richest man.

Gates gave US$1.5 billion in Microsoft Corp. stock in November to the Gates Foundation Asset Trust, the entity that manages the foundation’s endowment, Bloomberg reported Thursday, citing Amy Enright, a spokeswoman for the foundation.

The donation consisted of 31 million shares of the world’s biggest software maker, according to a Jan. 30 filing with the United States Securities and Exchange Commission.

The transfer slashed Gates’s stake in the company he co-founded to 3 percent.

That still leaves him with a net worth of US$82.9 billion, making him the wealthiest man on the planet hands down, according to the Bloomberg Billionaires Index.

Gavi, The Vaccine Alliance, the world’s biggest funder of vaccines for developing countries, announced Jan. 27 that it had received US$7.5 billion in new pledges, including US$1.55 billion from the Bill & Melinda Gates foundation.

The pledge to Gavi is unrelated to the SEC filing, according to Wendy Walker, a spokeswoman for the Gates foundation.

Gates has directed his philanthropic efforts through the organization, which works to fight polio, AIDS, tuberculosis and malaria, and strengthen health systems in developing countries, among other efforts.

In September, it donated US$50 million in emergency funding to fight Ebola in West Africa.

The foundation had US$42.3 billion in assets and had distributed US$31.6 billion in grants through September, according to its website.

– Contact us at [email protected]

RA

EJI Weekly Newsletter

Please click here to unsubscribe