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Gates Makes Largest Donation Since 2000 With $4.6 Billion Pledge (bloomberg.com)

Posted by msmash on from the thanks-Bill dept.

From a report: Bill Gates made his largest gift since the turn of the century, giving away Microsoft shares that accounted for 5 percent of his fortune, the world's biggest. The billionaire donated 64 million of the software maker's shares valued at $4.6 billion on June 6, according to a Securities & Exchange Commission filing released Monday. While the recipient of the gift wasn't specified, Gates has made the majority of his donations to the Bill & Melinda Gates Foundation, the charity he and his wife use to direct their philanthropic efforts. It's the largest gift of Microsoft shares that Gates has made since 2000. The 61-year-old gave away $16 billion worth of Microsoft shares in 1999 and $5.1 billion a year later, according to calculations by Bloomberg.

7 of 163 comments (clear)

  1. That's not giving it away by drinkypoo · · Score: 4, Insightful

    He still controls all of that money, but now he doesn't have to pay taxes on it.

    --
    "You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
    1. Re:That's not giving it away by sycodon · · Score: 5, Insightful

      You think he's going to buy a yacht with it?

      You think he's gonna buy hookers with it?

      Why are you people so bent out of shape?

      --
      When Fascism comes to America, it will call itself Anti-Fascism, and tell you to give up your guns.
    2. Re:That's not giving it away by swillden · · Score: 5, Insightful

      He still controls all of that money, but now he doesn't have to pay taxes on it.

      He didn't pay any taxes on it before. You don't pay taxes on unrealized gains. Now, he's made it so that he'll never realize any gains on that stock, and so that he can't spend it on himself, but only on charitable efforts. By any reasonable definition of the word, that is "giving it away". The most you can argue is that until the Gates Foundation (assuming that's where it went) spends it on fighting malaria or whatnot, it hasn't actually been given away yet. But he's moved it to where it can only be given away, so that's a distinction without a difference.

      Not that he doesn't still have more money than he could ever possibly spend on himself anyway. This gift will have no impact on his personal life.

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    3. Re:That's not giving it away by liquid_schwartz · · Score: 1, Insightful

      I think what everyone is getting at is that this is a scam. It looks like charity when really it's all about tax liability with the added bonus of virtue signalling. Moreover he still controls the wealth. Until it has been given away, not merely pledged, there shouldn't be any benefits.

  2. Re:Please donate responsibly by Lisandro · · Score: 2, Insightful

    You should check on Gate's philanthropy background. Think what you may about him, he donated a shitload of money to very good causes over the world.

  3. Re:$55k by Anonymous Coward · · Score: 0, Insightful

    You're giving away most of your labour to capitalists for nothing.

  4. Re:Please donate responsibly by 110010001000 · · Score: 1, Insightful

    "or funding organic school lunches for poor-neighborhood children"

    Spoke like a true alt-right suburbanite. How would you know how children in poor neighborhoods eat? Scumbag.