razoloto999@sh.itjust.works to

No Stupid Questions@lemmy.world · 7 months ago

Is Bill Gates technically still the richest person in the world? Can he use his foundation's endowment money any way he chooses?

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Is Bill Gates technically still the richest person in the world? Can he use his foundation's endowment money any way he chooses?

razoloto999@sh.itjust.works to

No Stupid Questions@lemmy.world · 7 months ago

If you look here:

https://www.bloomberg.com/billionaires/

Bill Gates is only the 5th richest.

…but the Bill & Melinda Gates Foundation has an endowment total of $75.2 billion.

So, his wealth ($149 billion) + foundation ($75 billion) = $224 billion.

So, my question is…can he spend that foundation money any way he wants instead of spending his personal money? If he wants a jet can he just use the foundation money? If so, then he is still the richest person in the world even though he does not get labeled as such in the news anymore.

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7 months ago

Which is why it’s not counted as part of his personal wealth

I know it’s not counted as a part of his personal wealth. You have missed the whole point. Whoosh!

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