Bill Gates Fined $800,000 Over Stock Purchases

Bronz writes "CNN Money is reporting that Bill Gates has been fined $800,000 for violating antitrust waiting period for stock purchases. The department alleged that Gates bought more than $50 million worth of stock in ICOS Corp. through his personal investment trust and failed to notify antitrust officials about the purchase, as required." It's also clarified: "The technical incident has nothing to do with the government's massive antitrust battles with Microsoft."

Comments

Drug Maker?

[ziondreams]

From the article: "...$50 million in voting stock in ICOS (ICOS: Research, Estimates), a drug maker"

A drug maker? Not to bring the tin-foil hat approach to things, but seriously...what is Bill Gates interested in a drug making/researching company for? I'm a bit confused...is this related to Micro$oft? It would seem so from the mention of antitrust law, etc.

Is Micro$oft suddenly changing their business strategy to that of pharmaceuticals?!

Oh no!

[Anonymous Coward]

Bill Gates fined for violating antitrust laws when he's involved with so many companies?! Wow! I can't wait till Slashdot reports that he was fined for driving at 35mph in some school zone. That'll be the clincher to convince me this man is evil!

Re:Article Troll

[mabu]

This is probably something that's merely an oversight on behalf of his broker.

But of course. A man of limited means such as Gates probably can't afford a broker that is capable of performing legally-required, due-dilligence.

Re:So what?

[twbecker]

Low inheritance taxes preserves an effective nobility and leisure class that will use an accident of birth to make a living as a shareholder. Arguably the builders of wealth should obtain such benefits - not their progeny. Descendents should be provided equal opportunity to compete based on their own merits and talents.

I can't believe I just read this. So the government gets to decide what YOUR family can and cannot pass along to you? I find the mere notion of that offensive. Low death taxes may well result in some folks enjoying the fruits of someone else's labor (their fathers for example), but the idea that the government should level the playing field with some sort of tax is socialistic at best and downright theivery at worst. Should Uncle Sam take material possessions too, comrade? After all, they could be liquidated and the money from them could put someone ahead!! The horror.