Although he has donated more than $ 35 billion this year to humanitarian aid, Bill Gates has earned $ 16 billion since the start of 2019, making it a hefty $ 106 billion.
It’s a simple investment strategy – I hold more than 60 percent of the wealth in stocks, said the founder of Microsoft in an interview with Blumberg.
As of Monday, about $ 60 billion of Gates’ wealth is in the stocks it owns, and thanks to that, Michael Garson, the billionaire’s investment adviser, explained that Gates was able to build the world’s largest private foundation without reducing its wealth.
Bill Gates has donated $ 30 billion to people who need help and would like to be part of the future he envisioned. He stated that he did not want to leave all his wealth to his children alone, but that he would give 95% for humanitarian purposes. He would like to use his money to eradicate serious illnesses like polio, which he would consider his greatest success. His wife is Catholic by religion, but she opposed the Vatican by announcing it would donate $ 560 million to provide contraception to women in underdeveloped third world countries to prevent unwanted pregnancies. $ 750 million has been invested in malaria vaccines and $ 2.2 billion in AIDS control.
They donated over $ 1 billion to colleges and over $ 210 million to tidy up public schools. They are also committed to raising awareness with most of their wealthy friends so that they can make their lives easier for someone with their donations. Since success is nowhere to be forgiven, many in these actions see only the intention of Bill Gates and other billionaires to avoid paying taxes.
Some have judged Microsoft’s way of doing business to be too aggressive and sabotaging competition in every possible way. In 1998, the court accused the company of violating the law, and Bill Gates was labeled a tyrant and a monopolist. In support of this are the heated discussions at meetings with directors and managers who, in his estimation, did not do the job well. In public, he always tried to create a good image of himself and his company, which initially included a young rebel, then a leader of a huge corporation and a big charity.
He was aware that he was not perfect and could not handle everything, but focused on what he was interested in.
Despite being a visionary, Bill Gates couldn’t predict the significance of the internet, which is why he had to invest a lot of money to correct the mistake. He considered his biggest competitor, Steve Jobs, a genius. He wrote him a letter that Steve kept while he was dying. At the age of 31, he made $ 1 billion and was 40th birthday as the richest man in the world. As everyone is curious to hear what drives one of the most successful people in human history, Bill Gates often gives advice that he himself adheres to.
These are: Life is not fair, get used to it! Be kind to nerds. Chances are you’ll be working for one. If you think your teacher is strict, wait until you get a boss. If you make a mistake, it’s not your parents fault. Don’t cry over your mistakes, learn from them.
It’s nice to celebrate success, but it’s also important to mark the lessons of failure. If you can’t do something good, at least make it look good. Television is not real life. In real life, people have to leave the cafe and go to work. Baking your burger is not an honor. Your ancestors had another word for baking burgers. They called it an opportunity. The world is not interested in your self-esteem. The world accepts you if you achieve something before you begin to feel good in your skin. Before your birth, your parents were not as boring as they are now. They become like that because of paying your bills, cleaning your clothes and listening to you talk about being cool. You won’t make $ 60,000 a year as soon as you get out of high school. You won’t be a vice president with a business phone until you make it.
More than 60 percent of the wealth is held in stocks
More than 60 percent of the wealth is held in stocks
That could change, though, if higher taxes are imposed in the US, as the front page of the world media states.
“I doubt the wealth tax will pass, but I would not be against it. The closest thing to that is the real estate tax, which I strongly advocate for going back to 55 percent, or the percentage it was decades ago,” Gates said.
Although he is the second richest man in the world (right after Jeff Bezos), Gates is known to be an advocate for higher income taxes on the richest in America and greater transparency.
“I do not like that there are so many foundations that no one knows their owners. Financial transparency is very important,” he said, adding that he doubted that he would be able to boast the same financial success in the future.
Microsoft co-founder Bill Gates on Friday surpassed Amazon founder Jeff Bezos on the list of the richest people in the world for the first time in just over two years, Bloomberg reports. Gates was helped in part by the Pentagon’s decision, announced on October 25, to contract a deal with Microsoft worth as much as $ 10 billion. Details of this contract are not yet available to the public.
The list of the top ten richest in the world is dominated by Americans, many of whom work in the technology sector, among them Amazon founder Jeff Bezos in number three, Facebook founder Mark Zakerberg in fifth place, and Oracle co-founder Larry Ellison. is the seventh. Among the top 10 richest on the Forbes list are Amansio Ortega, owner of Spanish clothing chain Zara, which ranks fourth, followed by Mexican telecommunications tycoon Carlos Slim in sixth place, the Koch brothers, Charles and David, eighth and ninth, respectively. the tenth is New York City Mayor and Blumberg News founder Michael Blumberg. The owner of “Zara” was second in wealth last year, while Carlos Slim was fourth.
“The number of billionaires worldwide has increased by 13 percent over the past year to 2,043 people, the largest annual increase in the last 31 years since the magazine began compiling such lists,” Forbs said.
The Forbes list has the highest number of billionaires from the US – 565, which is the result of the growth of the US stock market since the victory of Donald Trump in the November 2016 presidential election, China is second with 319 billionaires and Germany third with 114.
Trump himself, however, fell 220 places on the list and now occupies the 544th position with a fortune estimated at $ 3.5 billion. Forbes attributes Trump’s decline to the fall in real estate prices in Manhattan, which houses most of his wealth in real estate. Forty percent of Donald Trump’s wealth is tied to the Trump Tower and eight buildings within a mile of the building, Forbs reports.
George Soros is 29th on the list with a fortune of $ 25.2 billion and Rupert Mardok 90th with a total of $ 25.2 billion. Silvio Berlusconi, with an estimated fortune of $ 7 billion, is ranked 199th.
Among the 20 richest men in the world are only two women. Lilien Betancourt, owner of Loreal cosmetics, took 14th place with a fortune of $ 39.5 billion. Ellis Walton, the daughter of Sam Walton, the founder of US Volmart retail chain, is ranked 17th with a fortune of $ 33.8 billion.
A total of 227 billionaires are women, most of whom have inherited a fortune, but 15 of them have made a fortune themselves, mostly from Asian countries, such as Vietnam’s Nguyen Ti Puong Tao, CEO of the low-cost airline “Wetget” .
In 2018, Bezos became the richest man in the world and the first whose wealth totaled over $ 100 billion to appear on the Forbes list, netting $ 160 billion, breaking the Gates series of 24 years in the first place.
But the decline of Amazon’s net CEO is not entirely due to the decline in Amazon’s stock. Bezos transferred a quarter of his stake in Amazon to his ex-wife, Mackenzie Bezos, as part of their divorce deal, which ended earlier this year. McKenzie Bezos is “heavy” at $ 32.7 billion and is among the 20 richest people in the world.
Gates, meanwhile, has been out of Microsoft since 2014, when he stepped down as president of the company, though he is still a board member. He sold or donated most of his stake in Microsoft and redistributed his wealth over time. He is now co-chair of the Bill & Melinda Gates Foundation, the largest private charitable foundation in the world.
Bill Gates debuted in Forbes’ first billionaire list in 1987 with a net worth of $ 1.25 billion. Bezos first joined Forbes’ list of the 400 Richest Americans in 1998, a year after Amazon went public, with a net worth of $ 1.6 billion.