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New York Post
22-05-2025
- Business
- New York Post
Google's Sergey Brin donates $700M worth of stock to mystery recipients
Google co-founder Sergey Brin has gifted nearly $700 million worth of Alphabet stock — but the beneficiaries of his largesse are a mystery. The tech mogul — whose net worth is estimated at $144 billion, according to Bloomberg's Billionaires Index — transferred approximately 4.1 million shares of Google's parent company, evenly split between newly converted Class A and Class C stock, according to an SEC filing Wednesday. The regulatory filing did not disclose the recipient or recipients of the shares, leaving open the possibility that the gift could be directed to charitable foundations, donor-advised funds or personal trusts. Advertisement 3 Google co-founder Sergey Brin has gifted nearly $700 million worth of Alphabet stock, according to an SEC filing from Wednesday. Brin is seen far right with Google DeepMind CEO Demis Hassabis (center) and podcaster Alex Kantrowitz (left). REUTERS A spokesperson for Brin's family office declined to comment on the transaction. The timing of the donation comes as Alphabet stock has been buoyed by positive investor sentiment following announcements at Google's annual developer conference. The Class A and C shares are up more than 13% over the past month. Advertisement On Tuesday, Google unveiled a new 'AI Overview' feature in its signature search product — dubbed 'AI mode' — which is expected to be rolled out to all US users. The feature enables direct interaction with Google's artificial intelligence tools, bringing its search capabilities more in line with platforms like OpenAI's ChatGPT. This latest donation fits a broader pattern for Brin, who has regularly moved substantial portions of his Alphabet holdings into philanthropic or strategic initiatives, often coinciding with major Google product announcements. Advertisement 3 Brin co-founded Google alongside Larry Page (left) in 1998. Google went on to become the world's most dominant search engine. Corbis via Getty Images In 2023, Brin donated roughly $600 million in Alphabet shares around the time of Google's AI search launch. He also reported additional share gifts exceeding $100 million in May and November of that year. Brin has a longstanding track record of supporting causes related to medical research, especially Parkinson's disease, which runs in his family. Through his nonprofit foundation, he has also funded projects in climate technology and public health. Advertisement Past donations have supported startups researching psychedelic treatments and ambitious infrastructure ideas — such as a $155 billion initiative to construct artificial 'energy islands' off the coast of Copenhagen. 3 Brin and Page stepped down from day-to-day duties running Google in 2019, though he maintains considerable influence on the company's direction. Christopher Sadowski Despite stepping down from day-to-day management at Google in 2019 alongside fellow co-founder Larry Page, Brin remains deeply invested in the company's long-term direction. As of Wednesday's close, Brin's personal fortune made him the 10th-richest person in the world. Page holds a slight edge as the ninth-richest, with an estimated net worth of $153.2 billion. Much of Brin's wealth is held in a mix of Alphabet's Class B and Class C shares — structures that preserve his voting power while offering flexibility in financial planning. Since Google's initial public offering in 2004, Brin has sold more than $11 billion in company stock, Bloomberg data shows.
Yahoo
15-05-2025
- Business
- Yahoo
Selena Gomez's Billionaire Status Disputed in New Report
's billionaire status is being questioned amid reports of her mother Mandy Teefy's mental health foundation, Wondermind, being under a cash crunch. Following a recent investigation, Forbes has dethroned the actor-singer from the 10-figure bracket. The business magazine giant estimated Gomez's net worth at $700 million. The latest report came after Forbes revealed over the weekend that Wondermind had failed to pay its employees in recent weeks. According to Forbes' latest investigation, Selena Gomez's estimated net worth is $700 million. The magazine countered the Rare Beauty founder's billionaire status after reporting on financial issues at Wondermind. Over the weekend, Forbes revealed in a report that Wondermind failed to meet payroll in March and April. The mental health startup was cofounded by Gomez, her mom Mandy Teefey, and newsletter entrepreneur Daniella Pierson, who left in 2023. Following that, Forbes learned from a source that Wondermind laid off nine people of its 15-person staff. The move came after a Wondermind spokesperson told the outlet on Saturday that the company had 'rectified' the situation. They also assured the startup would clear all outstanding debts on Monday. The spokesperson told Forbes, 'In the coming days we will be transitioning into a new chapter for Wondermind.' The statement had also noted that the company was experiencing 'growing pains' similar to 'many startups.' This led to 60% of the staff getting laid off on Monday. According to the Forbes source, the employees were told they would be paid on May 12 and also receive two weeks of severance. Meanwhile, the spokesperson claimed that Wondermind's layoffs were not a result of their employees previously revealing the company's financial crisis to Forbes. The reports also prompted searches about Gomez's billionaire status amid the swirling rumors about the financial crisis. In September last year, Bloomberg reported the 32-year-old's huge milestone when she crossed the 10-figure mark. According to the outlet's Billionaires Index, Gomez's stands at $1.3 billion. Bloomberg also noted that a huge percentage of the businesswoman's fortune comes from her beauty brand. However, Forbes has now estimated Selena Gomez's wealth status falls short of the billionaire mark. Originally reported by Shriya Swami on Reality Tea. The post Selena Gomez's Billionaire Status Disputed in New Report appeared first on Mandatory. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-05-2025
- Business
- Yahoo
Bill Gates Will Give Away $200 Billion and Shutter His Foundation by 2045
Bill Gates is doling out his fortune much sooner than we thought. The Microsoft cofounder's Gates Foundation has pledged to give away $200 billion by 2025, when the organization will shutter its doors. That's about 99 percent of Gates's fortune, Bloomberg reported. In its original timeline, the nonprofit would have closed 20 years after the billionaire's death. Currently, the 69-year-old Gates is the fifth-richest person in the world, with $168 billion to his name, according to Bloomberg's Billionaires Index. More from Robb Report Koenigsegg's Hypercar Just Set Two More Bonkers Speed Records Adam Lambert's Glam Sunset Strip Home Is Up for Grabs at $7.4 Million A Couple of Pop Culture Icons Just Sold Their Hollywood Hills Villa for $7.8 Million The new figure would double the Gates Foundation's spending, according to the publication. Since its founding back in 2000 by Gates and his then-wife, Melinda French Gates, the organization has gifted over $100 billion to a variety of charities, especially those that fall under the health, global development, and education umbrellas. 'There are too many urgent problems to solve for me to hold onto resources that could be used to help people. That is why I have decided to give my money back to society much faster than I had originally planned,' Gates said in a statement. 'I will give away virtually all my wealth through the Gates Foundation over the next 20 years to the cause of saving and improving lives around the world.' Over its final 20 years, the Gates Foundation will focus on ending preventable childbirth deaths, eradicate deadly infectious diseases, and lifting people out of poverty, among its other goals, the foundation's statement said. The organization has helped to save 82 million lives through its efforts to fight against AIDS, malaria, and tuberculosis across the world, as well as increasing access to vaccines in low-income nations. Other UHNW individuals have pledged to donate their wealth, too. Jeff Bezos said he will give away much of his (at the time) $124 billion net worth in 2022. Warren Buffet, who just announced he was stepping down as the CEO of Berkshire, donated $1.1 billion in the company's shares to four charitable organizations MacKenzie Scott, Bezos's ex-wife, has been giving away her fortune at a rapid clip. Since 2020, She has donated $19.3 billion to over 2,450 charities since she began the endeavor. Austrian heiress Marlene Engelhorn took it one step further: She tapped a group of her country's residents to decide how her $27 million fortune would be spent. That's certainly one way to do it. Click here to read the full article.
Yahoo
08-05-2025
- Business
- Yahoo
Bill Gates announces plan to give ‘virtually all' his money away and end the Gates Foundation in 20 years
When Bill and Melinda French Gates created the Gates Foundation in 2000, they had planned for the organization to continue its work, using their remaining fortune, for several decades after they died. But now, the billionaire Microsoft founder says he doesn't want to wait that long to give away most of his wealth. Gates announced on Thursday that he now plans to distribute 'virtually all' of his wealth — around $200 billion, he estimates — within the next 20 years, before shuttering the foundation on December 31, 2045. The announcement comes as President Donald Trump's administration is working to slash funding for health, foreign aid and other public assistance programs — the types of causes the Gates Foundation supports — raising concerns about stalled progress on research and other crucial projects. Gates wants to accelerate the foundation's work on global health and equity initiatives and hopes the move will set a model for other billionaires, he said in a blog post published Thursday morning. The pledge builds on Gates' track record of promoting philanthropy. He, along with ex-wife French Gates and Warren Buffett, launched the Giving Pledge in 2010 to encourage wealthy individuals to donate most of their fortunes to charitable causes either during their lifetimes or in their wills. It now has more than 240 signatories. 'People will say a lot of things about me when I die, but I am determined that 'he died rich' will not be one of them,' Gates, who turns 70 later this year, wrote. 'There are too many urgent problems to solve for me to hold onto resources that could be used to help people.' The Gates Foundation, one of the world's largest philanthropies, has already given away more than $100 billion since its founding, including to develop new vaccines, diagnostic tools and treatment delivery mechanisms to fight disease around the world. Gates has increased the pace of his giving in recent years, especially following the pandemic, but Thursday's announcement marks a dramatic acceleration in the mobilization of his wealth. The Gates Foundation called it the 'largest philanthropic commitment in modern history.' Over the next 20 years, the Gates Foundation will focus on three main goals: ending preventable deaths of moms and babies, eradicating deadly infectious diseases and lifting hundreds of millions of people around the world out of poverty. In its announcement, the foundation raised concerns about what it described as stagnant global health trends. And in an interview with the Financial Times published Thursday, Gates accused fellow billionaire Elon Musk of 'killing the world's poorest children' because of his work at the Department of Government Efficiency cutting US international aid programs. However, in his blog post Thursday, Gates expressed optimism that advancements in artificial intelligence, in combination with his giving, could increase the rate of progress. Gates' current net worth is $108 billion; Bloomberg's Billionaires Index ranks him as the fifth wealthiest person in the world. Now, he said his net worth will fall 99% by 2045. The $200 billion he expects to give away through the foundation over the next 20 years will come from its existing $77 billion endowment and his personal wealth, including any earnings from ongoing business investments such as TerraPower, the nuclear power company he founded, French Gates exited the Gates Foundation last year following the couple's high-profile divorce in 2021. She said in 2022 that she would not give away the bulk of her wealth through the Gates Foundation. The announcement comes weeks after Microsoft, now worth more than $3 trillion, marked 50 years since it was founded by Gates. 'It feels right that I celebrate the milestone by committing to give away the resources I earned through the company,' he wrote. Sign in to access your portfolio
Time of India
08-05-2025
- Business
- Time of India
Bill Gates Foundation to close on this date; one of the world's richest people to give away all his fortune, here's who will get the money
Bill Gates intends to donate most of his wealth. He aims to close the Gates Foundation by 2045. The foundation will focus on global health and poverty. Gates wants to address urgent problems. He plans to reduce his net worth significantly. The foundation will work on preventing deaths and eradicating diseases. Gates' decision reflects his commitment to philanthropy. Tired of too many ads? Remove Ads The Reason For Bill Gates' Decision Gates Foundation's Focus Areas for the Next 20 Years Bill Gates' Net Worth Will Fall By 99% Tired of too many ads? Remove Ads FAQs Microsoft co-founder Bill Gates has planned to give way 'virtually all' of his wealth, which is estimated to be about $200 billion, within the next 20 years, before he shuts down the Gates Foundation on December 31, 2045, as per decision comes after US president Donald Trump's administration started to cut funding for health, foreign aid and other public assistance programs, according to the report. While, these are the issues that the Gates Foundation supports, which was founded by Bill and Melinda French Gates in 2000, as per said, 'People will say a lot of things about me when I die, but I am determined that 'he died rich' will not be one of them,' as quoted in the report. The 70-year-old also mentioned, 'There are too many urgent problems to solve for me to hold onto resources that could be used to help people,' quoted to CNN, in the next 20 years, the Gates Foundation aims to focus on three main goals, which are; ending preventable deaths of moms and babies, eradicating deadly infectious diseases and lifting hundreds of millions of people around the world out of also shared that his net worth would drop 99% by 2045 due to his plan of donating $200 billion via the foundation over the next two decades from its existing $77 billion endowment and his personal wealth, including any earnings from ongoing business investments such as TerraPower, the nuclear power company he founded, reported current net worth is $108 billion and Bloomberg's Billionaires Index has ranked Gates to be the fifth wealthiest person in the world, as per Gates Foundation will shut down on December 31, 2045, as per wants to ensure that his wealth is used to address urgent global challenges like health, poverty, and disease, as per the report.
