Forbes magazine recently reported that MicroBill’s net worth recently hit $50 billion:
His 50 billion dollar fortune increased by 3.5 billion dollars from the 2005 Forbes list. The magazine said strong markets around the world contributed to the surge in wealth, as the total net worth of the list jumped to 2.6 trillion dollars — more than the annual GDP of Germany.
The crazier number, actually, is how much he’s donated to charity:
The Bill and Melinda Gates Foundation has committed more than $3.6 billion to organizations working in global health; more than $2 billion to improve learning opportunities, including the Gates Library Initiative to bring computers, Internet Access and training to public libraries in low-income communities in the United States and Canada; more than $477 million to community projects in the Pacific Northwest; and more than $488 million to special projects and annual giving campaigns.
It’s a bit laughable when you’re talking about 10 digits, but how many of us have given away 10% of our net worth? He eventually wants to give it all away.
Makes quite a contrast to the Walton Family Foundation, richest family in the world with a combined wealth of $90 billion.
They gave away a paltry $106 million in 2003.
http://reclaimdemocracy.org/walmart/2005-06/charity.php
Though it is fair to point out that a portion of Bill Gates’ donations is in the form of Microsoft software, which pays him back in the long run and doesn’t really cost him anything real in the short run.
Bill Gates is most of the time criticized for being too rich but there should be a fair amount of appreciation for his charity works.
Razib: I think a lot of the criticism of Gates has eased up, since he handed off the daily running of Microsoft. Plus, I think his commitment to making a difference in the world with his riches has given his reputation a real boost, even if you don’t see lots of media coverage of him as a humanitarian.
What I particularly appreciate is the way he applies some of his business disciplines to giving, identifying prevention of diseases in Africa as one of the things that can achieve the most positive impact for the money invested.
I not only applaude Bill Gates for his charity, but also as a business man who has accumulated the wealth necessary for this king of action.
Does anyone know what Steve Jobs donated?