[Am-info] Gates Selling 1M (Of His 661M) Microsoft Shares

[John J. Urbaniak]

I really wish someone would publish an analysis of Gates's Federal Income
taxes paid.  On a percentage of net worth basis, I bet it's miniscule.

The guy's a multi-billionnaire, richest person on earth, but I bet he pays
less than a trifle in Federal taxes.

John


Paul Rickard wrote:

> ========== On 2002.06.21 02:42 PM, Fred A. Miller typed: ============
>
> >Gates Selling 1M (Of His 661M) Microsoft Shares
> >
> >Is Bill Gates worried about the outcome of Microsoft's antitrust
> >case? As lawyers for Microsoft and nine states were wrapping up
> >final arguments in the latest chapter of the tussle Wednesday,
> >Gates was telling the Securities and Exchange Commission he'll
> >dump 1 million Microsoft shares within three months. The block of
> >shares is valued at $49.5 million.
>
>     This happens about three times a year. Everyone always panics and
> says Gates is selling out, but you have to remember that the man is
> essentially paid in stock. Gates makes approximately $650,000 a year in
> straight pay (at last check), which is barely enough to pay the property
> tax on his house and get a hamburger at Wendy's. (King County WA.
> appraised the 40,000 foot house at $53 million in 1997 and sent him a
> bill, which he contested, for $600,000.) Microsoft gives him a truckload
> of stock options so he and the company can hide from the IRS, then he has
> to sell that stock regularly to keep gas in the jet and food on his
> 100-seat reception hall table. The man has two (soon to be three) kids,
> two "charitable foundations," and two cash-starved sattelite telephone
> companies to support, so we can't expect him to survive on just his
> mid-six-figure salary.
>
> ======== Paul Rickard, Editor of The Microsoft Boycott Campaign =======
> --------------------------------[ Http://www.msboycott.com ]-----------
>
>   "Microsoft is now talking about the digital nervous system. I guess I
>    would be nervous if my system was built on their technology, too."
>        -Sun Microsystems President Scott McNealy
>
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