Here’s What Bill Gates Spends His Billions On
So what does the second-richest man in the world spend his money on?
Bill Gates, the co-founder of Microsoft is currently the world’s second-richest person, right behind Amazon founder and CEO Jeff Bezos. With an estimated net worth of over $95.7 billion, what does someone with that much money actually spend it on? It’s known that Gates, along with some of the world’s other richest people, including Facebook founder and CEO Mark Zuckerberg have committed to the Giving Pledge, promising to give away up to 99% of their money for hopes of a brighter future. But surely people like Gates have spent a few billion on some cool stuff, right?
According to a recent article by Business Insider, Gates and his wife Melinda donate a lot of their money to charities through the Bill and Melinda Gates Foundation. Sure, he still has a $125 million Washington estate, an amazing car collection, and a private jet but even all of that combined only costs a fraction of Gates’ total net worth. In addition to his philanthropy, we’ve highlighted some of what Gates has bought below.
Breathtaking Washington estate
Gates’ 66,000-square-foot Medina, Washington estate "Xanadu 2.0," took seven years to build and cost as much as $63 million to build. The lot alone cost him $2 million and he pays as much as $1,041,292.55 in property taxes each year. The house is now worth approximately $125 million and is filled with thousands of computer screens, devices, and paintings that are also worth millions of dollars. The home also has a 60-foot-pool, which is housed in a separate 3,900 square-foot building.
And that’s just the outside. In addition to the home theater that holds 20 guests, the estate also has six kitchens, 24 bedrooms, and a 2,100-square-foot library. The library holds a variety of precious books, including a 16th-century Leonardo da Vinci manuscript that is worth over $30 million. His garages also hold up to 23 cars, including a Porsche 959.
In addition to his main estate, Gates also owns a string of properties like his 4.5-acre vacation ranch in Wellington, Florida, $18 million 228-acre Rancho Paseana, 492-acre Wyoming ranch and numerous real estate investments through his investment firm Cascade. Via Cascade, Gates also owns half of the Four Season Holding's hotel chain and partially owns the Charles Hotel in Cambridge, Massachusetts, and the Ritz-Carlton in San Francisco.
439-foot superyacht Serene and Bombardier BD-700 Global Express
But in order to get from place to place, Gates also needs other means of transportation in addition to his fleet of cars, right? It’s been reported that he owns a $40 million private Bombardier BD-700 Global Express jet that holds up to 19 people as well as a 439-foot superyacht Serene that also holds a helicopter and costs $5 million a week to charter.
Donations and investments
Even though Gates owns a few pretty nice things, he’s told The Telegraph that he has "no use for money." He would rather spend his extra money on donations and investments for good causes. Last year, Gates invested $50 million into Alzheimer's research and has recently invested another $30 million with a group of investors into the Diagnostics Accelerator, which is a fund that aims to diagnose Alzheimer's earlier.
Overall Bill and Melinda have donated over $36 billion in charitable causes through the Bill and Melinda Gates Foundation. Some causes include fighting Ebola, working to defeat malaria, creating a low-cost polio vaccine, improving access to vaccines in poor countries, eliminating malnutrition in Nigeria, as well as establishing the Gates Millennium Scholars Program, which has received over $1.6 billion.
For his three kids, Gates only plans to leave them $10 million each. While that’s a lot, it’s still nothing compared to his total net worth. Instead of raising spoiled children, Bill and Melinda would rather use their nearly unlimited resources to help change the world for the better. Let us know what you think about Gates’ spending habits in the comments section below and be sure to subscribe to The Sitch for more billionaire stories and other entertaining reads.