The Brief
Microsoft founder Bill Gates gave more details this week about where his vast fortune will go, just weeks after revealing that he will give away 99% of it.
Today, that would be worth an estimated $107 billion.
The pledge is among the largest philanthropic gifts ever – outpacing the historic contributions of industrialists like John D. Rockefeller and Andrew Carnegie when adjusted for inflation. Only Berkshire Hathaway investor Warren Buffett’s pledge to donate his fortune — currently estimated by Forbes at $160 billion — may be larger depending on stock market fluctuations.
Where will Bill Gates’ fortune go?
The backstory:
In May, Gates pledged 99% of his remaining fortune to the Gates Foundation, which will spend it all within 20 years. The funds will be delivered over