More Money More Problems

By: Errol Mars

Bill Gates can't sell Microsoft stock fast enough

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It seem that Mr.Bill Gates is having a small cash problem. Gates is trying to cash out his Microsoft stock fortune to put more money into his Bill and Melinda Gates Foundation. But Mr.Gates is so wealthy, it could take him years to unload it all.

Mr.Gate would like to transform himself into the powerful philanthropist while he's still relatively young, so he needs to raise as much cash as possible.

At the current rate of which 52-year-old mogul is uploading his stock it would take 12 years for him to sell all his shares.

New York Post: In August alone, he sold $350 million in shares - but it barely scratched the deep pot of stock currently valued at $20.3 billion.

This year to date, he's sold just under $1 billion in stock, but needs to sell more than twice that amount by Christmas to match his stock sales last year of $2.54 billion.

In 2007, he sold 80 million shares, and this year nearly 64 million shares have been emptied from his portfolio, leaving a total of 794 million shares to be sold while his clock ticks away.

Gates has vowed to spend the cash on improving the world, particularly focusing on health issues. 

SOURCE: New York Post, The Business Sheet

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