Bill Gates’ foundation bets big on non-tech stocks with majority of $37bn portfolio

Bill Gates built his vast fortune through Microsoft, rising alongside the personal computing revolution of the 1980s and 1990s. 

By 1999, Gates became the world’s first centibillionaire, reaching a $100 billion net worth well ahead of any peer. 

Today, his wealth remains at that level, even as Microsoft’s valuation has grown several times over since its late-1990s peak.

That is largely because Gates has shifted his focus toward philanthropy through the Bill & Melinda Gates Foundation, where he plans to donate nearly all of his remaining wealth over the next two decades. 

While Gates historically transferred Microsoft shares to the foundation, the trust that manages its assets has steadily reduced its exposure to the tech giant.

As a result, roughly 60% of the foundation trust’s $37 billion portfolio is now concentrated in just three mostly non-tech companies. 

The largest holding is Berkshire Hathaway, accounting for about 29% of the portfolio. 

Led by Warren Buffett, Berkshire remains a consistent contributor to the foundation and has delivered resilient performance through its insurance and investment operations.

Another major position is Waste Management, a long-held, recession-resistant business benefiting from scale and pricing power. 

Canadian National Railway rounds out the top holdings, offering steady margins and strong barriers to entry in a slow-growth but essential freight industry.