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Latest News

Microsoft boss to give £1.6bn bonus to charity

by Personnel Today 21 Jul 2004
by Personnel Today 21 Jul 2004

Microsoft
chairman Bill Gates plans to give himself a US$3bn (£1.6bn) bonus – but unlike
the majority of corporate executives, the world’s richest man won’t be keeping
a penny of it.

As
part of a plan to distribute $75bn (£40.7bn) to shareholders during the next
four years, Microsoft’s 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 $3bn.

However,
he plans to donate the windfall to the Bill & Melinda Gates Foundation,
which works to expand access to technology through public libraries and improve
global health. The foundation estimates its endowment at $27bn (£14.6bn).

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"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.

 By Daniel
Thomas

Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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Personnel Today
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