The world"s richest man announced that he will donate $3 billion dollars the Bill & Melinda Gates Foundation. "The pledge today is recognition that our world, the nation and our region--now more than ever--can and should dramatically improve equity in health, education, and access to information and human services for vulnerable families" Gates said in a statement Tuesday.
Microsoft Chairman Bill Gates plans to give himself a $3 billion bonus.
But unlike many top executives in Corporate America, the world"s richest man doesn"t plan to keep a penny of it. As part of a plan announced Tuesday to distribute $75 billion to shareholders during the next four years, stockholders will receive a one-time dividend of $3 per share. As the company"s largest stockholder, with 1.1 billion shares, Gates stands to earn about $3 billion.
Gates said Tuesday that he plans to donate the windfall to the Bill & Melinda Gates Foundation, which works to expand access to technology through public libraries and to help fight diseases around the world. The foundation estimates its endowment at $27 billion. "The pledge today is recognition that our world, the nation and our region--now more than ever--can and should dramatically improve equity in health, education, and access to information and human services for vulnerable families," Gates said in a statement Tuesday.