$ cat ./records/the-iowa-documents-expose-microsofts-internal-emails-in-comes-v-m-2007.txt
The 'Iowa Documents' Expose Microsoft's Internal Emails in Comes v. Microsoft
[RECORD.TXT] · cat --full
A long-running Iowa class-action antitrust case, Comes v. Microsoft, forced the company to disclose thousands of internal emails and memos that proved deeply embarrassing — candid messages in which executives discussed blunting rivals and wielding the company's market power. Before Microsoft settled the case in 2007, the so-called 'Iowa documents' became a widely cited trove of evidence about its anticompetitive culture during the Gates era, offering an unusually frank window into how the company actually operated behind closed doors.
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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.
2026
Gates's Charitable Endowment Is Now Led by Berkshire, Not Microsoft
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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