- Bill Gates said Wednesday that he'll one day give all his wealth to his charity foundation.
- Gates, the cofounder of Microsoft, has a fortune worth $114 billion.
- Gates indulges in a few luxuries, but he mainly spends through the Bill & Melinda Gates Foundation.
- Visit Business Insider's homepage for more stories.
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Billionaire Bill Gates may be the world's fourth-richest person, but he said Wednesday that he plans to give "virtually" all of it to his philanthropic organization.
The Microsoft co-founder tweeted that he "will move down and eventually off of the list of the world's richest people."
Gates is worth $114 billion, according to Bloomberg, and is one of only eight moguls worth over $100 billion.
Gates has made some lavish purchases over the years: He owns a Washington estate worth $125 million, a private airplane, and a luxury-car collection. More recently, he dropped $43 million on a 5,800-square-foot home in Del Mar, California. But these indulgences make up only a fraction of his massive fortune, and Gates isn't known to throw his money around.
In fact, the couple previously said it's unfair they're so rich. Instead of spending billions on themselves, they often donate it to charity through the Bill & Melinda Gates Foundation. They've also pledged to give away most of their fortune through the Giving Pledge, which they launched in 2010.
Keep reading for a look at how Gates spends his billions.
Taylor Nicole Rogers contributed to an earlier version of this story.
Bill Gates, the cofounder of Microsoft, has an estimated net worth of $130.5 billion.
Source: Forbes
He long held the title as the world's second-richest person until Elon Musk unseated him in November 2020.
Source: Business Insider
Now, Gates is the world's fourth-richest person and part of a eight-man club of people currently worth more than $100 billion.
Source: Business Insider
Gates has invested in a variety of stocks and assets and launched a $1 billion investment fund, Breakthrough Energy, with 20 others.
Source:Forbes
Despite his massive fortune, Gates previously told Ellen DeGeneres that when he became a billionaire at age 31 (history's youngest billionaire at the time), he didn't go on a spending spree.
Source: Business Insider
But he has indulged in things over time, he said, like a private plane.
Source: Business Insider
It's been reported that Gates owns a Bombardier BD-700 Global Express, which costs $40 million and can seat up to 19 people.
Source: Business Insider
Gates also spent a lot on his estate, Xanadu 2.0, in Medina, Washington. It took him seven years and $63 million to build. He purchased the lot for $2 million in 1988.
Source: Business Insider
At 66,000 square feet, his home is worth about $125 million today.
Source: Business Insider
In 2017, he paid $1,041,292.55 in property taxes on it, according to public filings.
Source: Business Insider
The estate has a trampoline room, which Gates told DeGeneres his three kids love.
Source: Business Insider
There are roughly $80,000 worth of computer screens sitting around the house.
Source:Business Insider
Devices worth $150,000 can display different paintings or photographs on the screens at a single touch. However, there are real paintings on the wall as well — like the Winslow Homer painting Gates purchased for $36 million in 1988.
Source: Business Insider
There's also a 60-foot pool — in its own separate, 3,900 square-foot building.
Source: Business Insider
That's not to mention the 2,100-square-foot library, home to a 16th-century Leonardo da Vinci manuscript that Gates bought at auction for $30 million in 1994.
Source:Business Insider
Gates reportedly pays to have sand imported from St. Lucia in the Caribbean to the shore surrounding his house.
Source: Business Insider
In addition to a home theater for 20 guests, six kitchens, and 24 bathrooms, Gates' house has various garages for 23 cars.
Source: Business Insider
It's perfect for Gates, an avid luxury-car collector. His first big splurge after founding Microsoft was a Porsche 911 supercar, he told DeGeneres. He later sold it, and it was auctioned for $80,000.
Source: Business Insider
But that wasn't Gates' last Porsche — he also has a Porsche 959 in his car collection.
Source: Business Insider
Outside of his Washington pad, Gates also has a 4.5-acre vacation ranch in Wellington, Florida, with a 12,864-square-foot mansion. He reportedly dropped $27 million to buy a whole string of properties in the area. The area is hotspot for wealthy equestrians.
Source:Business Insider
His daughter, Jennifer, is an accomplished equestrian, and he bought the property to support her passion.
Source:Business Insider
In California, he owns the 228-acre Rancho Paseana, which he purchased for $18 million. It includes a racetrack, orchard, and five barns.
Source:Business Insider
He added to his California real estate portfolio in 2020, dropping $43 million on an oceanfront home in Del Mar, California. It has six bedrooms, a 10-person Jacuzzi, and a swimming pool.
Source: The Wall Street Journal
He also reportedly purchased a 492-acre Wyoming ranch, which listed for $8.9 million back in 2009.
Source:Business Insider
But Gates' real-estate 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.
Source: Business Insider
In 2013, Gates and several unnamed buyers paid $161 million for the Ritz-Carlton in San Francisco. As of 2014, it was reportedly worth $200 million.
Source:The Wall Street Journal
When he's not busy buying real estate or working, Gates needs a vacation or two to unwind. He's traveled to Australia and Croatia ...
Source: Travel + Leisure, Forbes
... and Belize and the Amazon in Brazil.
Source: Travel + Leisure, Forbes
He's also treated his family to a Mediterranean vacation on board the 439-foot superyacht Serene, which he chartered for $5 million a week. It included a helicopter.
Source: The Daily Mail
He previously said that he likes to play tennis and go skiing. He's also been spotted spectating at tennis matches.
Source: The Telegraph
But Gates' downtime isn't always so adventurous. He's an avid reader, having indulged in quite the book collection.
Source: Business Insider
He's also an "avid bridge player," as he once told Reddit.
Source: Business Insider
Gates hates to shop for himself, but did admit that he likes to "buy nice things" for Melinda.
Source: CNBC
However, he once told Reddit that he doesn't like overspending on clothes and jewelry.
Source: CNBC
But Gates' splurges are only a fraction of his massive fortune. He previously told The Telegraph, "I have no use for money." Instead, he often donates to or invests his money in good causes.
Source: The Telegraph
Gates previously invested 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 sweetener.
Source: Business Insider
In November 2017, Gates invested $50 million into Alzheimer's research.
Source:Business Insider
He continued these efforts by recently investing $30 million with a group of investors into the Diagnostics Accelerator, a "venture philanthropy" fund to diagnose Alzheimer's earlier.
Source:Business Insider
Gates and Melinda have been huge on philanthropy. They were recently named the most generous philanthropists in the US by The Chronicle of Philanthropy, having donated more than $36 billion to charitable causes through the Bill & Melinda Gates Foundation.
Source: Business Insider
Gates agreed to give away most of his fortune through the Giving Pledge, which he launched in 2010.
Source: Business Insider
The Gateses have spent money traveling for their charity work. They donated more than $2 billion in 2016 to causes related to global health and development and US education. In 2017, they donated $4.78 billion, mostly to projects run by the Gates Foundation.
Source: Travel + Leisure
They've pledged about $2 billion to defeat malaria, donated more than $50 million to fight Ebola, and pledged $38 million to a Japanese pharmaceutical company working to create a low-cost polio vaccine.
Source: Business Insider
The Gates Foundation has also committed at least $2.5 billion to the GAVI Alliance, which works to improve access to vaccines in poor countries.
Source: Business Insider
Bill and Melinda also prioritize education. The Gates Foundation established the Gates Millennium Scholars Program, which has received $1.6 billion.
Source: Business Insider
It also partnered with the Dangote Foundation in 2016 to spend $100 million on eliminating malnutrition in Nigeria.
Source: Business Insider
Throughout 2020, the Gates Foundation was active in the global COVID-19 response, pledging $100 million to help fight the pandemic. A major portion of those funds were used for vaccine development.
Source: Business Insider
When it comes to the future of his fortune, Gates is leaving $10 million to each of his children, a fraction of his net worth.
Source: Business Insider
He reiterated in July 2022 that he plans to give virtually all his wealth to his and French Gates' organization, stating that he'll eventually fall off the list of the world's richest figures.
Source: Business Insider
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