Feeds

Gates tops share sale list, but foundations are shallow

Older charitable operations eclipse His Billness' do-goodery

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Bill Gates is known for his obsessive competitiveness, but he has some way to go to win all the records so far as his wealth is concerned. Gates sold more stock in the first half of 1999 than any other executive - $2.523 billion - but the significance is not great since he still holds around 980 million shares worth about $88 billion. There is no particular evidence that when the Microsoft share price is threatened that he sells. Most of the Gates loot is being laundered through his foundations, and it is in these stakes that he is lagging. He has set up two foundations: the William H Gates Foundation, run by his father, and having assets of $10 billion, and the Gates Learning Foundation with $1.3 billion. The Chronicle of Philanthropy shows the Lilly Endowment has assets of $15 billion, and the Ford Foundation has $10.7 billion. Three of the top four richest Americans obtained their wealth from Microsoft: Paul Allen is worth $30 billion, and Steve Ballmer $19.5 billion, according to Forbes in June. Gates' bridge partner Warren Buffet is number two, with $36 billion in Berkshire Hathaway. Eight other Microsoft executives sold another $500 million or so shares in the first half of the year, including $78 million worth by Paul Maritz, who still has more than $200 million of Microsoft shares tucked away for a rainy day, and options on at least 1.3 million shares (currently worth about $120 million) that he has not exercised. He is committed to stay at Microsoft until the end of the year, but vp David Vaskevitch has taken over the daily running of Maritz' developer group, with vp Tod Nielsen being more involved in the technical aspects. Other major US share sellers in the first half of the year were Philip Anschutz, the founder of Qwest, who disposed of $1.573 billion to BellSouth, and Michael Del,l who has sold $681 million. Gates also filed yesterday notice of an intention to sell a further 3 million shares. Microsoft insiders had been lax in filing formal notices with the SEC by the tenth of the month following the transaction, but the trial and the current SEC investigation of Microsoft has changed that. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.