$ cat ./records/gates-negotiates-a-64-stake-outmaneuvering-co-founder-paul-allen--1977.txt
Gates Negotiates a 64% Stake, Outmaneuvering Co-Founder Paul Allen on Microsoft's Ownership Split
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Though Microsoft began as a partnership of two friends, Bill Gates pressed Paul Allen for the larger share of the company. By Allen's account in his memoir, Gates first proposed a 60/40 split in his own favor — arguing he had done more of the programming and carried more of the load — and then, after the partners licensed their BASIC interpreter to NCR, pushed it to 64/36. Allen reluctantly agreed. 'Bill knew that I would balk at a two-to-one split, and that 64 percent was as far as he could go,' Allen later wrote, concluding that Gates's thinking was simply 'what's the most I can get?' The split, set in the partnership's earliest years, left Gates with the controlling stake as Microsoft grew into one of history's most valuable companies.
Source: https://www.cnbc.com/2011/03/31/regrets-and-resentment-in-microsoft-partnership.html
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Related Accomplishments
2026
Gates Foundation Trust Sells Off the Last of Its Microsoft Stock
In the first quarter of 2026, the Bill & Melinda Gates Foundation Trust sold its remaining Microsoft shares, fully exiting a position in the very company that created Gates's fortune — capping a long, deliberate diversification away from the stock. The endowment that funds Gates's philanthropy, managed separately from its grant-making through Cascade, is now anchored instead by Berkshire Hathaway, Waste Management, railroads, and heavy-equipment makers. The sale underscored how thoroughly Gates's giving had decoupled from Microsoft's day-to-day fortunes.
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By 2026, the publicly disclosed stock portfolio of the Bill & Melinda Gates Foundation Trust — the endowment that funds Gates's philanthropy — was led not by Microsoft but by Berkshire Hathaway, Waste Management, Canadian National Railway, Caterpillar, and Deere. Decades of diversification, plus Warren Buffett's stock gifts, left it concentrated in railroads, waste, heavy equipment, and Buffett's conglomerate, while Microsoft — the source of the original fortune — had largely been sold down. The unglamorous, value-oriented mix reflects the long stewardship of Gates's money manager, Michael Larson, through Cascade Investment.
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