FYI: Bill Gates is still in wealth-creation mode.
“We’re not, you know, in some defensive posture where we’re mostly in cash, or anything like that,” the Microsoft Corp. founder said in an interview with Bloomberg Television. “The strategy that’s been used on the investments is to be over 60% in equities.”
That’s helped Gates add $16 billion to his net worth this year, taking his wealth to $106 billion, behind only Jeff Bezos on the Bloomberg Billionaires Index, even as his charitable donations have topped $35 billion.
The Gates fortune had about $60 billion of equity assets as of Monday, according to data compiled by Bloomberg. By comparison, the average family office portfolio in North America held about 32% of its assets in equities in 2018, according to Campden Wealth’s 2018 global family office report.
The growth overseen by the billionaire’s investment chief, Michael Larson, who oversees family office Cascade Investment, has enabled Gates to build the world’s largest private foundation without diminishing his fortune.
Regards,
Ted
https://www.bloomberg.com/news/articles/2019-09-17/the-simple-strategy-fueling-the-growth-of-bill-gates-s-fortune
