BillGates

Forbes' List of 'Billion Dollar Donors'

I'm sure a list of the world's wealthiest is a fluctuating compendium these days making a list of donors a nice change of pace from Forbes. Of course most of these 'Billion Dollar Donors' would most likely make the cut for some of the nation's most affluent individuals as well but here their philanthropic tendencies are the focus of attention. These fourteen people, out of 793 billionaires worldwide, have actually donated, not just pledged, over $1 billion total. Here are some of the world's most generous givers:

1 Bill Gates, $28 billion donated.
2 George Soros, $7.2 billion
3 Gordon Moore (shown at right), $6.8 billion
4 Warren Buffett, $6.7 billion
5 Eli Broad, $2 billion
6 James Stowers, $1.9 billion
7 Herbert and Marion Sandler, $1.5 billion
8 Michael Bloomberg, $1.5 billion
9 Li Ka-shing, $1.37 billion
10 Dietmar Hopp, $1.25 billion
11 Michael Dell $1.2 billion
12 Klaus Tschira, $1.1 billion
13 Stephen Schmidheiny $1 billion
14 Ted Turner, $1 billion

Anybody you are surprised didn't make the list?

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Tags: bill gates, BillGates, billion dollar donor, BillionDollarDonor, charity, donate billions, DonateBillions, forbes, gordon moore, GordonMoore, ted turner, TedTurner, warren buffett, WarrenBuffett

Gates Foundation Loses Money, Keeps Giving It Away

by Deidre Woollard (RSS feed) —

Filed under: Charity, Big Givers

We've seen plenty of charities suffering in the recession but even the biggest, the Bill & Melinda Gates Foundation isn't immune. The AP reports that between January 2008 and April 2009 the foundation saw its wealth sink from $39 billion to $27.5 billion. The foundation, which was started in 1994, has given away $20.1 billion in the last decade. It paid $2.8 billion in grants and other charitable expenses last year and estimates that it will spend $3.5 billion in grants and related expenses in 2009.The foundation isn't reducing distributions in 2009 but the growth of the distributions has slowed. The foundation continues to be devoted to global health. It recently made a $10 million grant to the United Nation's World Food Program. Gates Foundation CEO Jeff Raikes, a former Microsoft executive, said the economic crisis has caused Bill Gates to increase his focus on the foundation.

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Tags: bill and melinda gates foundation, bill gates, BillAndMelindaGatesFoundation, BillGates, charity, philanthropy

Bill Gates Buys Buffalo Bill's Ranch for $9 Million

by Jared Paul Stern (RSS feed) —

Filed under: Estates, Celebrity Shopping

Microsoft founder Bill Gates, the world's richest man, has reportedly purchased Irma Lake Lodge in Wyoming, a 492-acre ranch that once belonged to Western legend "Buffalo Bill" Cody, for $8.9 million. The deal was done via Gates' investment manager, the Cody Enterprise reports. The Shoshone Forest borders the beautiful property (above) on two sides and the terrain varies from open knolls to thick conifer forests, aspen groves and rocky outcroppings. Dotted across the ranch are four lakes and three picturesque ponds.

Named by Buffalo Bill after his youngest daughter, Irma Lake is the largest body of water with approximately 12 acres. The estate includes a 15,000-square-foot contemporary log cabin-style main residence (below) with with expansive open spaces and patios, a five-bedroom guesthouse, stables, Buffalo Bill's original cabin, a caretaker's house, and a dairy cabin. In addition to amazing views, there are several species of fish to be found on the property as well as "some of the finest big game hunting the west has to offer."

Gallery: Irma Lake

Tags: Bill Gates, BillGates, fishing, hunting, lake, ranch, Wyoming

Oprah Winfrey Joins World's Richest Philanthropists For Secret Meeting

by Deidre Woollard (RSS feed) —

Filed under: Big Givers, Wealth

How would you like to be a fly on the wall for this event, a secret meeting of some of the world's biggest givers? On May 5, Bill Gates, David Rockefeller Sr., Oprah Winfrey, Warren Buffet and other leading philanthropists met in New York to discuss the world's problems. The high-profile confab was organized by the Bill & Melinda Gates Foundation.

Details of what the group discussed have not been made public but according to IrishCentral.com, each philanthropist was given 15 minutes to talk about their view of the future and how the team, which has donated billions to charitable causes, can help at a time when charity donations are falling. What is particularly compelling about the group assembled, which also reportedly included Eli Broad and Michael Bloomberg, is that most of them have their own foundation and areas of focus when it comes to philanthropy. I can't help but imagine this meeting as some sort of Justice League scenario complete with flapping capes. Sounds more compelling than any summer blockbuster.

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Tags: bill gates, BillGates, oprah winfrey, OprahWinfrey, warren buffett, WarrenBuffett

Number of World's Billionaires in Sharp Decline

by Jared Paul Stern (RSS feed) —

Filed under: Wealth

My colleague Deidre Woollard just reported that the number of millionaire households in the U.S. has shrunk to its lowest level since 2003. To that we can now add that the number of billionaires in the world has also seen a steep decline.

According to Forbes' newly-released annual list of the world's billionaires, there are now only 793 billionaires around the globe, down from 1,125 a year ago. That means 332 people lost their billionaire status.

This year the exclusive group has an average net worth of $3 billion, down 23% in 12 months, making for a loss of some $1.4 trillion. Americans now account for 44% of the money and 45% of the list's slots, up 7 and 3 percentage points from last year, respectively. Some billionaires have fared better than others, though most have lost masses of money.

Bill Gates lost $18 billion but regained his title as the world's richest man with a $40 billion fortune. Warren Buffett, last year's No. 1, saw his fortune decline $25 billion as shares of Berkshire Hathaway fell nearly 50% in 12 months, and is in the No. 2 slot with $37 billion. Mexican telecom titan Carlos Slim Helú maintains his spot in the top three but lost $25 billion, and is now worth $35 billion.

Gallery: 10 Common Myths About Wealth and Luxury

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Tags: Bill Gates, BillGates, Billionaire, billionaires, Carlos Slim, CarlosSlim, Forbes, millionaires, money, Warren Buffett, WarrenBuffett, wealth

The Classicist: Magnates, Mansions & Millionaires

by Jared Paul Stern (RSS feed) —

Filed under: Estates, Books, The Classicist, Wealth

The excesses of today's tycoons have come under lots of scrutiny lately due to the dire financial situation. Titans of business have always been at the forefront of American mythology however, in both good times and bad, and it's worth putting today's crop of nabobs in their proper historical context. That's what William G. Scheller has done admirably in his new book, Great Estates: The Lifestyles & Homes of American Magnates (Universe, $35). The oversized, lavishly illustrated volume celebrates the history of 40 of America's true barons of business, from the 1700s through this year's Forbes list, and opens the door into their private palaces along the way.

Beginning with the colonial era, when trade was overtaking landholding as a way to get rich, Great Estates follows the "restless careers of our most brilliant and driven merchants, industrialists, and financiers as they mastered a new economic world of textiles, railroads, oil, and steel." With the twentieth century came fresh opportunities: "automobiles, motion pictures, broadcasting, publishing, and retailing on a massive scale, and the vast horizon of high technology." And of course the massive mansions that men of great fortune erected as monuments to their success along the way.

These include Henry Clay Frick's Manhattan mansion, now a magnificent museum; William Randolph Hearst's San Simeon in California, aka Hearst Castle; and one of our personal favorites, railroad magnate Jay Gould's gothic castle on the Hudson River, Lyndhurst (pictured above on the book's cover). Shortly after he purchased the estate as a summer home in 1880, Gould was at the zenith of his power, having gained control of Western Union Telegraph, the New York Elevated Railway and the Union Pacific Railroad with rapacious methods that once caused him to be beaten by a Wall Street mob.

Gallery: Magnates' Great Estates

Cooper-Hewitt, National Design Museum (former Carnegie Mansion)

Tags: Astor, Bill Gates, BillGates, Frick Collection, FrickCollection, Hearst Castle, HearstCastle, Henry Clay Frick, HenryClayFrick, Jay Gould, JayGould, Lyndhurst, Mansion, Rockefeller, San Simeon, SanSimeon, Tycoon, Vanderbilt, Warren Buffett, WarrenBuffett, William Randolph Hearst, WilliamRandolphHearst

Continue reading “The Classicist: Magnates, Mansions & Millionaires”

Gates Foundation to Focus on College Education

by Tracy Chait (RSS feed) —

Filed under: Big Givers

The Gates Foundation has announced it will spend several hundred million dollars over the next five years in an effort to double the current number of low-income students who graduate from college, according to The Chronicle of Philanthropy.

On Tuesday at A Forum for Education in America, Bill Gates told guests, "According to our data, the number of low income and minority students graduating college ready today is 22 percent, and that figure is increasing far too slowly. It's unacceptable. We need to do better."

The Foundation will spend approximately $3 billion across all its education initiatives this year alone, including plans to reduce the dropout rate at the high school level and provide more teacher support. Experts suggest that with the failing economy, federal and state agencies with less and less to spend could start collaborating with the Foundation to improve education in America.

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Tags: big givers, BigGivers, bill gates, BillGates, college prep, CollegePrep, education, gates foundation, GatesFoundation

The Homes of America's Billionaires

by Jared Paul Stern (RSS feed) —

Filed under: Estates, Wealth

As an adjunct to their just-released annual list of the 400 richest Americans, Forbes has included a special report on the homes of some of the billionaires who made the cut. Capping the account is of course Bill Gates, who tops the 400 with his $57 billion fortune. It's hard to say exactly how much his high-tech 66,000-sq.-ft. house on Lake Washington near Seattle is worth. The property includes a 60-foot swimming pool with an underwater music system, a domed library with two "secret" bookcase doors and a 1,000-square-foot dining room, the mag notes.

Also featured: the historic seven-story Duke-Semans mansion (above) in Manhattan owned by cab driver-turned-mogul Tamir Sapir (net worth $1.9 billion), who bought it from Doris Duke's relatives for $40 million after a single walk-through. He's now said to be spending $10 million on renovations. And then there's Oracle co-founder Larry Ellison's (net worth $27 billion) 23-acre estate in Woodside, Calif., "reminiscent of a 16th-century imperial Japanese palace" which reportedly cost over $100 million to build. You can see a slideshow of these megamansions and more here.

Tags: Bill Gates, BillGates, Doris Duke, DorisDuke, Forbes, Larry Ellison, LarryEllison, New York, NewYork, Seattle, Tamir Sapir, TamirSapir

Who's Up, Down & Out on New Forbes 400 Richest List

by Jared Paul Stern (RSS feed) —

Filed under: Wealth

Forbes just released its annual Forbes 400 list of the richest Americans, and billionaire Microsoft founder Bill Gates (above) is back on top after briefly ceding first place to Warren Buffett this spring. Gates has a net worth of $57 billion as opposed to Buffett's $50 billion - $12 billion less than he had several months ago before Berkshire Hathaway's stock plummeted 15%. Buffett isn't the only one to suffer a major reversal. The year's biggest loser was Sands casino mogul Sheldon Adelson, No. 15, whose fortune fell $13 billion in the past 12 months - about $1.5 million per hour, Forbes notes - to $15 billion.

Adelson's fellow casino kingpin Kirk Kerkorian, No. 27, was another underachiever, losing $6.8 billion this year. Still, they were both better off than the 33 moguls who fell off the list altogether due to declining fortunes. On the plus side, 31 new plutocrats moved up to take their places, including Facebook founder Mark Zuckerberg, 24, who makes his debut on the list with an estimated net worth of $1.5 billion.

Other Forbes 400 first-timers include fertilizer tycoon Alexander Rovt, car dealer and art collector Norman Braman, and Patrón tequila founder John Paul DeJoria. Meanwhile, New York City's billionaire mayor Michael Bloomberg was the year's biggest gainer, as his net worth jumped $8 billion to a total of $20 billion, snagging him the No. 8 position. Also worth noting among this year's stats:

The average net worth of Forbes 400 members is $3.9 billion.
There are 42 women on the list with an average net worth of $4.2 billion.
For the 2nd year in a row, the minimum net worth needed to make the list is $1.3 billion.
The assembled net worth of the richest Americans rose by only 2%, or $30 billion, to $1.57 trillion this year.

See the complete list here.

Tags: Bill Gates, BillGates, Billionaires, Forbes, Forbes 400, Forbes400, mark zuckerberg, MarkZuckerberg, Michael Bloomberg, MichaelBloomberg, Patron tequila, PatronTequila, sheldon adelson, SheldonAdelson, warren buffett, WarrenBuffett

The World's Biggest Billion-Heiresses To Be

by Jared Paul Stern (RSS feed) —

Filed under: Wealth

Forbes has come up with a new list of the 10 young women most likely to inherit their mega-rich fathers' fortunes - in short, the billion-heiresses of tomorrow. The final list does not merely represent the daughters of the world's richest men, however; for a true accounting, the magazine started with the daughters of the world's 150 richest people, all worth $6.4 billion or more, but then focused only on those with few or no siblings to divide the loot.

They further narrowed the field by disqualifying those with fathers like Bill Gates who have declared their intention to leave their fortunes to charity instead of their children. Also, they did not include those who have already inherited their money, like the world's richest woman, L'Oréal heiress Liliane Bettencourt.

No. 1 on the Forbes list is India's Vanisha Mittal Bhatia, daughter of Lakshmi Mittal, the fourth-richest person in the world with a fortune of $45 billion. The No. 2 and 3 heiresses are also the daughters of Indian tycoons, while No. 4 is Delphine Arnault-Gancia, daughter of LVMH chairman Bernard Arnault, the world's 13th-richest man with a fortune of $25.5 billion. And clocking in at No. 7 is championship equestrienne Georgina Bloomberg (above), daughter of New York's billionaire mayor Michael Bloomberg. See the gallery for more.

Gallery: World's Biggest Heiresses

Tags: Bill Gates, BillGates, Billionaires, delphine arnault-gancia, DelphineArnault-gancia, Forbes, Georgina Bloomberg, GeorginaBloomberg, Heiress, Lakshmi Mittal, LakshmiMittal, LVMH, Michael Bloomberg, MichaelBloomberg

Bryan Rubino Glass

by Anne Metz (RSS feed) —

Filed under: Decor, Gadgets

First Sonny and Cher. Then Justin and Britney. Then Kobe and Shaq.

It's clear that breaking up is hard to do.

As readers of the New York Times may know from yesterday's edition, the newest tiff is between famed Seattle glass artist Dale Chihuly and his former employee Bryan Rubino. Chihuly is suing Rubino for stealing his ideas.

Chihuly you've no doubt heard all about. He's the guy who makes -- among other creations -- the weird sea anemone-type glass chandeliers. He lit up Venice with his installations, and he's done the lobby of the Bellagio in Las Vegas. Robin Williams, Bill Gates and Bill Clinton all own Chihuly creations.

Rubino, the underdog in this story, is steadily producing lovely glassworks from his Shelton, Washington studio. This bumblebee-inspired glass vessel can be yours for $4100.

[image via Rubino Glass]

Tags: bill gates, BillGates, celebrity, cher, chihuly, kobe, rubino, shaq, sonny