Gates to donate $3 billion windfall

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The world’s richest man announced that he will donate $3 billion dollars the Bill & Melinda Gates Foundation. "The pledge today is recognition that our world, the nation and our region--now more than ever--can and should dramatically improve equity in health, education, and access to information and human services for vulnerable families" Gates said in a statement Tuesday.

Microsoft Chairman Bill Gates plans to give himself a $3 billion bonus.

But unlike many top executives in Corporate America, the world's richest man doesn't plan to keep a penny of it. As part of a plan announced Tuesday to distribute $75 billion to shareholders during the next four years, stockholders will receive a one-time dividend of $3 per share. As the company's largest stockholder, with 1.1 billion shares, Gates stands to earn about $3 billion.

Gates said Tuesday that he plans to donate the windfall to the Bill & Melinda Gates Foundation, which works to expand access to technology through public libraries and to help fight diseases around the world. The foundation estimates its endowment at $27 billion. "The pledge today is recognition that our world, the nation and our region--now more than ever--can and should dramatically improve equity in health, education, and access to information and human services for vulnerable families," Gates said in a statement Tuesday.

News source: C|Net News.com

Updates

According to the article at MSNBC, the new iPod will also contain the following features:

Longer battery life (50%) through more efficient method of power conservation.

Increased averaged play time, now at 12 hours.

Multiple On-The-Go playlist support

Ability to delete songs off the playlist

Users will now be given a choice to play their tunes at 25% slower or faster.

Lower price: $399 for 40GB, and $299 for 20GB. The 15 GB model has been discontinued.

Personally, I am hoping that some of these new features will be made available to existing users through firmware updates. I guess we will just have wait and see...

#1 Sn1p3t on 21 Jul 2004 - 14:33

Good old Bill!

#2 MikeBlackett on 21 Jul 2004 - 14:50

Yea, people shoot him down because of issues with the software, yet they never focus on the good stuff that he does personally.

#3 Radish™ on 21 Jul 2004 - 14:51

Good for him

Radish™

(1 reply) #4 Kracal on 21 Jul 2004 - 15:01

Sweet! I hate it when people say Microsoft are greedy. Its not true

#4.1 Grappa on 21 Jul 2004 - 17:52

I thought this article was about Bill Gates, not Microsoft.

#5 ClintEastman on 21 Jul 2004 - 15:08

Yay! Bill has a good heart, he has already given billions of $ away!

#6 StaticX on 21 Jul 2004 - 15:35

what a guy!

#7 DOGglee on 21 Jul 2004 - 15:53

Bill is my hero!!!

#8 bangbang023 on 21 Jul 2004 - 15:53

You can't help but smile a little bit. Regardless of what you think about Windows, he is definitely doing something great by consistently donating large amounts of money to charitable causes.

(3 replies) #9 Mister Lamar on 21 Jul 2004 - 16:24

Uncle Bill can give me a few of his dollars, although I did nothing to deserve them.

#9.1 macrosslover on 21 Jul 2004 - 16:56

Uncle Bill can give me a job, hell i'll work for my money.

#9.2 chacho on 21 Jul 2004 - 17:06

QUOTE (#9.0)

i did! i forwarded all his emails!

/not.

#9.3 Mister Lamar on 22 Jul 2004 - 00:27

QUOTE (#9.1)

I met a lady who worked for Microsoft yesterday, she says the place hires all the time, then I asked about SP2 due date, she says If I tell u, Id have to kill u, Im sure she don't know the exact date, but I tried

#10 LyKwId on 21 Jul 2004 - 16:57

what a nice gesture of goodwill

(1 reply) #11 Dixon on 21 Jul 2004 - 17:03

And last week he donated 50 Million to AIDS research!

He must have one heck of a Charitable Donation Write-off Section on his income tax return! Hell he probably makes money from the IRS!

Dont take thqat as a smear on his donations! Not at all I think that is fanitastic!

#11.1 Octol on 22 Jul 2004 - 00:27

I'm not sure how the tax thing would work in this case, but I know that his last donation of $23 billion to the B&MG foudation was out of his personal net worth. In other words, money that he had already paid the taxes on.

Obviously, he wasn't looking for a tax write-off there.

(10 replies) #12 Arcticflare on 21 Jul 2004 - 17:10

I don't know guys. I'm very skeptical about all this. Nobody just relinquishes 3.3 billion dollars, no matter how rich they already are, unless there is a huge personal benefit. And of course... I'm going to say it's something we aren't meant to know about.

Now that I've spoken out, I assume the secret ninja police will be coming after me.

#12.1 mram on 21 Jul 2004 - 17:43

Have you done the math on what it would take to make you monetarily stable, and able to do what you want to do?

Hell, if I had 1 billion dollars cash, I could invest that and live of the interest for the rest of my natural life, be happy, never work, and always have money to spend.

Mr Gates has oodles more.

At some point you have to ask yourself: "Why am I hourding?"

The personal benefit is that he freaking wants to. That's all anyone needs.

#12.2 Arcticflare on 21 Jul 2004 - 17:46

VERY good point.

But don't people always want more, now matter how much they already have? (You can tell I don't have a high opinion of people on the whole).

#12.3 deadmonkey on 21 Jul 2004 - 18:15

Most people do want more but Bill Gates obviously isn't like that.

#12.4 Arcticflare on 21 Jul 2004 - 18:21

What are you basing this on? Of course he is, that's why we all know who Bill Gates is. If he wasn't like that, 99% of us would have never heard of him.

#12.5 enzo on 21 Jul 2004 - 20:06

I don't want to sound pessimistic, but does anyone else think MS is going downhill a little? This whole slip-up with Explorer, the delay of the release of SP2, and even the delay of the release of Longhorn. All of it is making MS look pretty bad, and let's face it, if Longhorn doesn't integrate into the market well in the next few years, the company could take a pretty hard beating. Is Bill Gates loosing his edge? Is MS stepping down from it's giant super-company status?

#12.6 ghostrider on 21 Jul 2004 - 20:21

MS is doing fine. All software have bugs. I am still using Explorer at work and home. No big deal there. Plus MS always have a delay with significant software releases( ...,win95,win200,wxp,...) I would bet that you are very young are new to the tech world.

Great job Bill!!!

#12.7 supersaiyanjericho on 21 Jul 2004 - 20:42

QUOTE (#12.5)

are you one of those people who complains after using MS rushed-out product?

#12.8 shao on 21 Jul 2004 - 22:56

the guy just donated over 3 billion dollars and all you can think about is you think perhaps, maybe, on the off chance, microsoft is going downhill? well good for you.

i personally believe bill is driven not in what his bank balance says at the end of the day, but by how well his company is doing, and i honesltly think he believes that the software microsoft has made has improved peoples' lives in some way, shape or form. Well, i know people here will think that's bull****. Still, it can't be all bad if thinking like that means he donates billions to a good cause. I think if i was one of the world's richest men and i won the lottery i wouldn't really be that interested in keeping the money. Fair plays to the guy, doing some good.

#12.9 Jstphish on 22 Jul 2004 - 02:05

QUOTE (#12.2)

... don't people always want more, now matter how much they already have?

Yes, because that is our nature, but not necessarily money. He may want to fill a whole in his life and helping other people improve their lives is how he wants to do it (God would be the best choice, but I don't know if he is a Christian or not).

#12.10 enzo on 22 Jul 2004 - 05:54

QUOTE

all you can think about is you think perhaps, maybe, on the off chance, microsoft is going downhill? well good for you.

forgive me for sharing my ideas and thoughts,

I'll never do it again. I didn't know I would immediately be judged and dismissed. I guess I tried to emphasize that I was not being pessimistic, but it wasn't enough. I do not hate Microsoft, I was just sharing a possibility. This was not "all I could think about," it was just a possibility.

(2 replies) #13 Varsity on 21 Jul 2004 - 17:28

This is blatantly to make M$ more popular so he can JUST MAKE MORE MONEY.

#13.1 [moribundi] on 21 Jul 2004 - 17:35

Way to take something good and turn it into something twisted. That charity has 3 BILLION more dollars than it had before. Do you have ulterior motives every time you give some change to the Salvation Army during the holidays? What do you personally *gain* from that? Or have you ever donated anything in your life at all? Computers are not life. What his company does with 1s and 0s is one thing, but he's helping *real* people with *real* problems. I wish people would learn to seperate that.

*edit*

I hope you're being sarcastic, and if so, I apologize. But I know someone will come along and spurt out a comment like that and mean it eventually.

#13.2 macrosslover on 21 Jul 2004 - 17:36

i do believe he was being sarcastic

(2 replies) #14 deadmonkey on 21 Jul 2004 - 18:08

You can hate Microsoft buy Billy G is a very nice guy. I would love to meet up, not to talk windows, etc but just to shake his hand as not many people, no matter how rich they are, give that much money away. He gets ultimate respect in my book as he does so much for so many people.

#14.1 Arcticflare on 21 Jul 2004 - 18:22

Refer to my post # 12.4

#14.2 DOGglee on 22 Jul 2004 - 13:42

nothing interesting there :/

(3 replies) #15 Magallanes on 21 Jul 2004 - 18:40

NOT CHARITY, better talk to less TAXs...

Anyways i live in a poor country and WE NEVER RECEIVE ANY HELP. In fact, we have a own "charity" foundations..

You have a charity foundation, then you spend all funds in the foundation (of course), the tricks is the CEO and the directive of the foundations take almost all funds because they earn a highest salary, the rest is used in published, marketing, infrastructure and the very less is used in real help.

#15.1 VikingStorm on 21 Jul 2004 - 18:48

I think he already passes past all the tax breaks the government gives him based on charity already. So he doesn't necessarily get any less tax at Gates' rate.

#15.2 5kong on 21 Jul 2004 - 21:41

Agree with you. I am not American. But even this money is only used to improve US people's living, he still deserves my respect. Anyway, he is American and he makes great contributions to his own country and many people. That makes him a great guy.

#15.3 Tager on 22 Jul 2004 - 12:29

AIDS research not only benefits the US but it benefits other countries which suffer from it. If a cure is found, then it will help every single human being that has AIDS, including the folks in your country.

(2 replies) #16 paulhaskew on 21 Jul 2004 - 20:55

Anywho, I can tell you all right now that what Bill & Melinda Gates have done with this foundation works. I personally know 26 different people who benefit from it because of scholarships that we were awareded.

Ever heard of WEF or the Washington Education Foundation? This is funded and run by the Bill & Melinda Gates Foundation.

Not only have they paid for most of my school, but have allowed me to not worry about the bills from it, the cost of books and removed the financial burden it would put on my family and that of my parents.

Anywho, Bill Gates has my respect, he knows where things need help and he puts his money where is mouth is to help out.

Cheers

#16.1 supersaiyanjericho on 21 Jul 2004 - 22:52

so that amount of money is entirely free? you don't have to pay BG back? or do you have to pay him back but at a really low interest rate?

#16.2 CrimsonBlur on 22 Jul 2004 - 02:45

Grants and Scholarships are NOT loans. You don't pay them back.

#17 frogworm on 21 Jul 2004 - 21:09

d4mn that mother phooker, i love Bill Gates!

(2 replies) #18 riscy on 21 Jul 2004 - 22:12

True philanthropy is anonymous

#18.1 CrimsonBlur on 22 Jul 2004 - 02:48

You can't make a $3 billion donation anonymously. The government and everyone involved would DEFINATELY need to know where that kind of money was coming from. Normally (I don't know the number) donations over a certain amount cannot possibly be made anonymously... you might not put it in a press release, but it can't be anonymous, they need to track the money somehow, it's just way too much.

#18.2 riscy on 22 Jul 2004 - 22:45

Yes he would need to tell the government if he wants the tax break.

But sending out a press release is just blatent grandstanding.

#19 sodapop on 21 Jul 2004 - 22:46

I don't understand, Why not send me $5,000 of that? It's not like it would put a dent in your pocket or anything...

#20 Hova on 21 Jul 2004 - 22:52

Their foundation donated computers tolocal libraries in Canada. I give the utmost repect to anyone who gives out something like that. AIDS research? What a good guy.

#21 bush on 21 Jul 2004 - 23:06

gate's da maan. i think more, he could give away everything, except some 300-400 m $ that would be totally great

#22 Jason on 21 Jul 2004 - 23:24

You have a serious problem if you cannot appreciate the good he is doing for aids research etc and there is no motive behind this other than to help fight major diseases.

#23 enzo on 22 Jul 2004 - 05:54

a lot of people who are already rich seem to be getting a lot more money. But most of it is going to good causes.

(3 replies) #24 theh0g on 22 Jul 2004 - 07:47

Er, he has like $40bn, $3bn is nothing. Besides, he's giving it into his own fundation, great way to cut taxes. It really is a nice gesture and he has given out a lot of money before, but it's all for tax and propaganda reasons, don't be naive.

#24.1 cpu on 22 Jul 2004 - 09:20

he has 1.1bn stocks. Not $40bn in cash. It's interesting how many has Gates on his bank account. But definetly, not $40bn

#24.2 STV on 22 Jul 2004 - 12:06

@theh0g:

i would rather he give it to his foundation, than straight to the government through taxes. because at least the foundation will give it to people that need it. if he were to give money to the government, then bush would spend it left and right on this stupid multi-billion dollar war he started.

how do you know it is all for tax reasons? dont be such an ass.

STV

#24.3 ClintEastman on 22 Jul 2004 - 12:49

Surly it's a good thing that he doesn't pay tax on donations (if he hasn't paid it already), it means the charities get more?

Go Bill Go!

#25 tiwaris on 22 Jul 2004 - 09:03

Anyway I applaud and appreciate BG for his continued efforts to help the needy.

#26 Slugbait on 22 Jul 2004 - 13:26

Let's not forget something here: MS has a very long history of giving to charity, not just BillG. They have something called The Giving Campaign and employees donate tens of millions of dollars each year to charities and non-profits...then the company matches the employee donations.

Sure, Bill is a great guy to donate that much. But let's also applaud his employees' and his company's commitment to charity as well.

BTW, back when MS settled with Apple, and BillG's stock value suddenly shot to almost 700M, he was asked in an interview what he would do with all that money. He said back then he would eventually give most of it away, but refused to elaborate. After a couple of years, he got married, then later formed the foundation with his wife.

(3 replies) #27 superterran on 22 Jul 2004 - 14:37

Perhaps it's time for you people to start considering that Microsoft isn't the evil company that everyone makes them out to be.

Honsestly, Bill Gates isn't the only generous guy out there, although i've always been a big fan of his donations. Paul Allen does sort of the same thing, except he tends to invest in things that interest him. The Seti project, TechTV (I doubt he made a lot of money off that venture), the xFlight project. Balmer even donates, just not as much as those two. Also, Microsoft Employees donate millions to charity all the time...

Why in the hell would anyone try to point out that BIll Gates has alterior motives because of the release date of longhorn?

Honestly, Bill Gates could quit his job, buy Australia and live there for the rest of his life very comfotably if he wanted to. He's the richest... as in nobody beats him, he's the highest on the list.... richest man in the world. him spending 3 billion is like me giving $50 to the salvation army. That shoudln't discount his generocity, I would go home and cry if i gave them that much. I'm only 19, living by myself working 6 days a week. I've done it before, but I can honestly say that Bill Gates gets full props from me for what he did.

But you're all right - he's being deviously evil because Microsoft delayed Longhorn... I mean, never annnounced a release date. Obviously, he's just trying to take over the world.

#27.1 riscy on 22 Jul 2004 - 23:15

From what I can see Bill is behaving very similarly to J D Rockerfeller.

http://voteview.uh.edu/entrejdr.htm

Because of his Baptist upbrining he was eaten up with the guilt of making so much money that he actually was compelled to give most of his money away.

If you look at the history of Standard Oil you might see some similarities in the oil market at the time and the current computer software market. From my point of view Microsoft is just a modern version of Standard Oil.

#27.2 STV on 23 Jul 2004 - 01:56

aynthing to put a damper on the situation. thanks riscy, for your pathetic attempt to make this event seem anything less than amazing

STV

#27.3 riscy on 23 Jul 2004 - 08:57

Thanks for getting upset about something that doesn't even affect you. You are aware that I just stated an opinion, my opinion can't be wrong because it is just that, an opinion. If I have got anything factually wrong then please by all means point out my error.

But if you are just saying "I don't agree with you Riscy" then that is fine too. However by using language like

pathetic attempt

just makes your post sound like a Bill G fanboy.

#28 JoDaddy on 22 Jul 2004 - 22:38

Bill Gates is one of my personal heroes. Has he done things that are a little shady? Of course. But the personal determination and work ethic he has is outstanding. I hope to meet him one day.

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