How Microsoft co-founder Bill Gates – worth US$96 billion – spends his money

Last week Microsoft co-founder Bill Gates and his wife, Melinda, released their 2019 annual letter, titled “Things we didn’t see coming” on their website, Gatesnotes.com, in which they highlighted the biggest surprises of 2018 – from sexist data to the extinction of textbooks. Gates is the world’s second-richest person, sitting on an estimated net worth of US$96.5 billion, according to Forbes magazine. It’s hard to imagine what to do with that amount of money, but the American knows how to make the most of it. While he has some indulgences – such as a Washington estate worth US$125 million, a private aeroplane and a luxury-car collection – they make up only a fraction of his massive fortune. Just how frugal is billionaire Warren Buffett? You'd be surprised Gates, 63, and his wife, 54, have said before that it’s unfair they’re so rich. Instead of spending billions on themselves, they often donate it to charity through the Bill and Melinda Gates Foundation. They have also pledged to give away most of their fortune through the Giving Pledge, which they launched in 2010. If Bill Gates spent US$1 million a day it would take him more than 245 years to spend his fortune. Check out how he and his wife spend their money. Gates has invested in a variety of stocks and assets and launched a US$1 billion investment fund, Breakthrough Energy, with 20 others. Find out the insanely extravagant secrets of Microsoft co-founder Bill Gates’ hi-tech US$127 million home Despite his massive fortune, Gates previously admitted to American television chat-show host, Ellen DeGeneres, that when he became a billionaire at the age 31 – history’s youngest billionaire at the time – he didn’t go on a spending spree. Yet he has admitted that he has indulged in things over time, such as a private jet. He is believed to own a Bombardier BD-700 Global Express jet, which costs US$40 million and can seat up to 19 passengers. China’s love for luxury puts Bernard Arnault hot on Buffett’s heels Gates also spent a lot on his estate, Xanadu 2.0, in Medina, Washington. It took him seven years and US$63 million to build after buying the lakeside plot of land for US$2 million in 1988. At 66,000 square feet (6,130 square metres), his home is now worth about US$125 million. In 2017, he paid US$1,041,292.55 in property taxes on the property, public filings revealed. The estate has a trampoline room, which he has said his three children, Rory, Jennifer and Phoebe, all love to use. There’s roughly US$80,000 worth of computer screens sitting around the house. Devices worth US$150,000 can display different paintings or photographs on the screens at a single touch. However, there are real paintings on the walls as well, such as the Winslow Homer painting, Lost on the Grand Banks, which Gates bought for US$36 million in 1998. There’s also a 60-foot (18-metre) swimming pool situated inside its own separate, 3,900 square-foot building. The estate also includes a 2,100-square-foot library, which is home to a 16th-century Leonardo da Vinci manuscript, Codex Leicester, which Gates bought at auction for US$30 million in 1994. 25 richest families in the world – ranked Gates also reportedly pays to have sand imported from St Lucia in the Caribbean for use on the shore surrounding his estate. In addition to a cinema for 20 guests, six kitchens, and 24 bathrooms, Gates’ property has various garages for 23 cars. It’s perfect for Gates, who is an avid luxury-car collector. His first big splurge after co-founding Microsoft was on a Porsche 911 supercar. He later sold it and the car was auctioned for US$80,000. Yet that wasn’t Gates’ last Porsche. He also owns a Porsche 959. Meet the Ambanis, the richest family in Asia, who live in a US$1 billion skyscraper Apart from his Washington state home, Gates also owns a 4.5-acre (1.8-hectare) holiday ranch in Wellington, Florida, which features a 12,864-square-foot mansion. He reportedly spent US$27 million to buy a series of properties in the area. The area is hot spot for wealthy equestrians. His daughter, Jennifer, is an accomplished equestrian and he bought the property to support her passion. In California, he owns the 228-acre Rancho Paseana, which he bought for US$18 million. It includes a racetrack, orchard and five barns. He also reportedly bought a 492-acre Wyoming ranch, which was valued at US$8.9 million back in 2009. Yet Gates’ property portfolio doesn’t end there. He’s made numerous investments through his personal investment firm, Cascade, including partial ownership of Charles Hotel in Cambridge, Massachusetts. He reportedly owns nearly half of the Four Season Holdings hotel chain through Cascade, including hotels in Atlanta and Houston. Gates shares a 95 per cent ownership with Prince Al-Waleed bin Talal of Saudi Arabia. Shh! Why the name of this luxury brand loved by the rich is a secret In 2013, Gates and several unnamed buyers paid US$161 million for the Ritz-Carlton in San Francisco. As of 2014, it was reportedly worth US$200 million. When he’s not busy buying property or working, Gates needs a holiday or two to unwind. He’s travelled to Australia and Croatia ... ... and Belize and the Amazon in Brazil. He’s also treated his family to a Mediterranean holiday on board the 439-foot superyacht Serene, which he chartered for US$5 million a week. Gates has previously said that he likes to play tennis and go skiing. He’s also been spotted watching matches at tennis tournaments. However, Gates’ downtime isn’t always so adventurous. He’s a passionate reader, having amassed quite a book collection. He’s also an “avid bridge player”. Gates hates to buy things for himself, but admits that he likes to “buy nice things” for his wife. However, he has said that he prefers not to spend too much on items such as clothes and jewellery. All of his indulgences amount to only a fraction of his fortune and he has previously said: “I have no use for money.” Instead, he often donates to good causes, or invests his money. China's richest are loving the new Porsche washing machine In the past Gates has bought shares in Amyris, a synthetic-biology company that originally produced precursors to malaria drugs and hydrocarbon-based biofuel. Today, it focuses on health through fragrances, skincare and sweeteners. If Bill Gates spent US$1 million a day it would take him more than 245 years to spend his fortune In November 2017, Gates invested US$50 million into Alzheimer’s research. He has continued these efforts by recently investing US$30 million with a group of investors into the Diagnostics Accelerator, a “venture philanthropy” fund to diagnose Alzheimer's earlier. Gates and his wife were recently named the most generous philanthropists in the US by magazine The Chronicle of Philanthropy, after donating more than US$36 billion to charitable causes through the Bill and Melinda Gates Foundation. The couple have travelled to countries including Tanzania, in Africa, to carry out charity work. In 2017, they donated US$4.78 billion, mostly to projects run by the Bill and Melinda Gates Foundation. They donated more than US$2 billion in 2016 to causes related to global health and development and US education. They’ve pledged about US$2 billion to defeat malaria, donated more than US$50 million to fight Ebola, and pledged US$38 million to a Japanese pharmaceutical company working to create a low-cost polio vaccine. The Gates Foundation has also committed to donating at least US$2.5 billion to the GAVI Alliance, which works to improve access to vaccines in poor countries. Who are 6 of Japan’s richest billionaires? The couple also prioritise education. The Gates Foundation established the Gates Millennium Scholars Program, which has received US$1.6 billion. It also teamed up with the Dangote Foundation in 2016 to spend US$100 million on eliminating malnutrition in Nigeria. When it comes to the future of his fortune, Gates is leaving US$10 million to each of his children – a fraction of his net worth. Want more stories like this? Sign up here. Follow STYLE on Facebook, Instagram and Twitter This article originally appeared on Business Insider.

How Microsoft co-founder Bill Gates – worth US$96 billion – spends his money

.css-1mniedq{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;}The American businessman and philanthropist vowed to give away most of his fortune – but he does have a few indulgences

The American businessman and philanthropist vowed to give away most of his fortune – but he does have a few indulgences