Gates Shuts Down
Hoofy and Boo journey back in time to see how Microsoft began.
On Friday, June 27th, Bill Gates will retire from day-to-day operations at Microsoft (MSFT). He will remain on the software giant's board and will continue to be its largest shareholder.
After three decades at the helm, however, Gates's retirement is nothing short of historic.
Gates is expected to focus his time on the charitable foundation he and his wife launched in 2000, The Bill and Melinda Gates Foundation. The charity, the largest of its kind in the world, has an endowment of $38.7 billion. It doubled in size in 2006, when Warren Buffett pledged to donate 10 million Berkshire Hathaway (BRK-A) shares a year to the foundation.
Microsoft began in 1975; in 2007, it posted revenue of $51.12 billion.
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