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Since he is already obligated to give the majority of his stock to the B&M Gates Foundation, shouldn't that be subtracted from his net worth as it is an outstan
by kingnothing 19y ago
Since he is already obligated to give the majority of his stock to the B&M Gates Foundation, shouldn't that be subtracted from his net worth as it is an outstanding debt, so to speak?
- rms 19y agoI see it like a will, you don't subtract someone's will out of their net worth. He just set it up even more formally than a will because you need to take billions of dollars very seriously.
- mdemare 19y agoBut you can change a will. Can he back out of this?
- Xichekolas 19y agoHe wouldn't want to, and neither would his children or grandchildren, from what I have read. Even donating 99% of his net worth, his family will still have over half a billion dollars, which is more than enough for down to earth people. And I'm not even sure he is donating that much.
- aneesh 19y agoYes, but he's set it up so that he only donates 5% every year. The rest is counted in his net worth.