- 21st May 2020
- Posted by: Hakeem
- Category: Finance & accounting
By Tom MetcalfMay 20, 2020, 12:30 PM EDT
- It was among the biggest gifts of 2019 in global philanthropy
- World’s top private foundation had $49.8 billion at year-end
Bill and Melinda Gates contributed $519 million of cash and stock to their namesake foundation in 2019.
The gift, among the biggest in global philanthropy last year, helped boost the endowment of the Bill & Melinda Gates Foundation Trust to $49.8 billion as of Dec. 31, up from $46.8 billion a year earlier, according to its latest financial statements.
Bill Gates, the Microsoft Corp. co-founder, also donated $523 million of investment-management services to the Seattle-based nonprofit, according to the filing.
The couple’s 2019 donations were still dwarfed by Warren Buffett’s annual gift of Berkshire Hathaway Inc. stock to their foundation. He gave $2.7 billion shares in July, bringing his total contributions to more than $27 billion since August 2006.https://tpc.googlesyndication.com/safeframe/1-0-37/html/container.html?n=0
While Buffett’s gifts have followed a regular trajectory over the years, those from the Gateses have varied. They gave about $44 million in cash and stock in 2018 and $4.6 billion of stock a year earlier.
Even 10-figure contributions haven’t done much to diminish Bill Gates’s fortune. He’s the world’s second-richest person with a net worth of $108 billion, according to the Bloomberg Billionaires Index. Buffett ranks fifth with $68 billion.