Here's How Much Bill Gates Just Donated to the Bill & Melinda Gates Foundation
According to a recent report, Microsoft Corporation MSFT co-founder Bill Gates has donated more than $955 million worth of Deere & Company DE stock to the Bill & Melinda Gates Foundation.
According to Securities and Exchange Commission filings, the Microsoft co-founder transferred more than 3 million shares of Deere stock to the Cascade Investment LLC foundation on Thursday.
On Friday, the foundation announced it had received a donation of 44,548,156 common shares from Canadian National Railway Company CNI, valued at $5 billion.
Prior to receiving the donation from Canadian National Railway Company, the Trust held 10,278,630 common shares, representing approximately 1.5% of the issued and outstanding common shares. Bill Gates and Melinda French Gates are co-trustees of the Trust.
Earlier this week, the foundation pledged to increase its annual payout by 50% from pre-pandemic levels to $9 billion a year by 2026 .
Also read: Leaked texts show Elon Musk confronting Bill Gates over shorting with Tesla
"With the support and guidance of our Board of Trustees, the Gates Foundation intends to increase spending by nearly $6 billion a year before COVID-9 billions of dollars a year by 2026. Our goal will remain the same: but in this time of great need and opportunity, this spending will allow us to accelerate progress by investing more deeply in the areas where we are already working,” Gates said in the note.
Last year in May, after the Gates filed for divorce, Bill transferred over $850 million in Deere stock to Melinda.
"I am very proud of the Gates Foundation's role in alleviating many issues. We were able to help bring together other foundations, nonprofits, governments, multilateral agencies and the private sector as partners in solving big problems,” Gates added.
Photo: Paolo Bona via Shutterstock
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
According to a recent report, Microsoft Corporation MSFT co-founder Bill Gates has donated more than $955 million worth of Deere & Company DE stock to the Bill & Melinda Gates Foundation.
According to Securities and Exchange Commission filings, the Microsoft co-founder transferred more than 3 million shares of Deere stock to the Cascade Investment LLC foundation on Thursday.
On Friday, the foundation announced it had received a donation of 44,548,156 common shares from Canadian National Railway Company CNI, valued at $5 billion.
Prior to receiving the donation from Canadian National Railway Company, the Trust held 10,278,630 common shares, representing approximately 1.5% of the issued and outstanding common shares. Bill Gates and Melinda French Gates are co-trustees of the Trust.
Earlier this week, the foundation pledged to increase its annual payout by 50% from pre-pandemic levels to $9 billion a year by 2026 .
Also read: Leaked texts show Elon Musk confronting Bill Gates over shorting with Tesla
"With the support and guidance of our Board of Trustees, the Gates Foundation intends to increase spending by nearly $6 billion a year before COVID-9 billions of dollars a year by 2026. Our goal will remain the same: but in this time of great need and opportunity, this spending will allow us to accelerate progress by investing more deeply in the areas where we are already working,” Gates said in the note.
Last year in May, after the Gates filed for divorce, Bill transferred over $850 million in Deere stock to Melinda.
"I am very proud of the Gates Foundation's role in alleviating many issues. We were able to help bring together other foundations, nonprofits, governments, multilateral agencies and the private sector as partners in solving big problems,” Gates added.
Photo: Paolo Bona via Shutterstock
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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