Bill Gates

Who Is Bill Gates?

Entrepreneur and businessman Bill Gates (born October 28, 1955) and his partner Paul Allen founded and built the world's largest software business, Microsoft, through technological innovation, keen business strategy and aggressive business tactics. In the process, Gates became one of the richest men in the world. In February 2014, Gates announced that he was stepping down as Microsoft's chairman to focus on charitable work at his foundation, the Bill and Melinda Gates Foundation.

Net Worth and House

In March 1986, Bill Gates took Microsoft public with an initial public offering (IPO) of $21 per share, making him an instant millionaire at age 31. Gates held 45 percent of the company's 24.7 million shares, making his stake at that time $234 million of Microsoft's $520 million. 

Over time, the company's stock increased in value and split numerous times. In 1987, Bill Gates became a billionaire when the stock hit $90.75 a share. Since then, Gates has been at the top, or at least near the top, of Forbes' annual list of the top 400 wealthiest people in America. In 1999, with stock prices at an all-time high and the stock splitting eight-fold since its IPO, Gates' wealth briefly topped $101 billion.

In 1997, Gates and his family moved into a 55,000-square-foot, $54-million house on the shore of Lake Washington. Though the house serves as a business center, it is said to be very cozy for the couple and their three children. 

Wife and Children 

In 1987, a 23-year-old Microsoft product manager named Melinda French caught the eye of Bill Gates, then 32. The very bright and organized Melinda was a perfect match for Gates. In time, their relationship grew as they discovered an intimate and intellectual connection. On January 1, 1994, Melinda and Bill were married in Hawaii. 

Following the devastating death of his mother to breast cancer just a few months after their wedding, Bill and Melinda took some time off in 1995 to travel and get a new perspective on life and the world. In 1996, their first daughter, Jennifer, was born. Their son, Rory, was born in 1999, and a second daughter, Phoebe, arrived in 2002.

Family and Childhood

Bill Gates grew up in an upper middle-class family with his older sister, Kristianne, and younger sister, Libby. Their father, William H. Gates Sr., was a promising, if somewhat shy, law student when he met his future wife, Mary Maxwell. She was an athletic, outgoing student at the University of Washington, actively involved in student affairs and leadership. The Gates family atmosphere was warm and close, and all three children were encouraged to be competitive and strive for excellence. Bill showed early signs of competitiveness when he coordinated family athletic games at their summer house on Puget Sound. He also relished in playing board games (Risk was his favorite) and excelled at Monopoly. 

Bill had a very close relationship with his mother, Mary, who after a brief career as a teacher devoted her time to helping raise the children and working on civic affairs and with charities. She also served on several corporate boards, including those of the First Interstate Bank in Seattle (founded by her grandfather), the United Way and International Business Machines (IBM). She would often take Bill along when she volunteered in schools and at community organizations.

Education

Bill was a voracious reader as a child, spending many hours poring over reference books such as the encyclopedia. Around the age of 11 or 12, Bill's parents began to have concerns about his behavior. He was doing well in school, but he seemed bored and withdrawn at times, and his parents worried he might become a loner. Though they were strong believers in public education, when Bill turned 13, they enrolled him at Seattle's exclusive preparatory Lakeside School. He blossomed in nearly all his subjects, excelling in math and science, but also doing very well in drama and English.

While at Lakeside School, a Seattle computer company offered to provide computer time for the students. The Mother's Club used proceeds from the school's rummage sale to purchase a teletype terminal for students to use. Bill Gates became entranced with what a computer could do and spent much of his free time working on the terminal. He wrote a tic-tac-toe program in BASIC computer language that allowed users to play against the computer.

Gates graduated from Lakeside in 1973. He scored 1590 out of 1600 on the college SAT test, a feat of intellectual achievement that for several years he boasted about when introducing himself to new people

Bill Gates and Microsoft

In 1975, Bill Gates and Paul Allen formed Micro-Soft, a blend of "micro-computer" and "software" (they dropped the hyphen to Microsoft within a year). Although the company started out on shaky footing, by 1979 Microsoft was grossing approximately $2.5 million, and, at the age of 23, Gates placed himself as the head of the company. With his acumen for software development and a keen business sense, he led the company and worked as its spokesperson. Gates personally reviewed every line of code the company shipped, often rewriting code himself when he saw it necessary. 

Following the development of software for IBM, between 1979 and 1981 Microsoft's growth exploded. Staff increased from 25 to 128, and revenue shot up from $2.5 million to $16 million. In mid-1981, Gates and Allen incorporated Microsoft, and Gates was appointed president and chairman of the board. Allen was named executive vice president.

Microsoft’s Software for IBM PCs

As the computer industry began to grow, with companies like Apple, Intel and IBM developing hardware and components, Bill was continuously out on the road touting the merits of Microsoft software applications. He often took his mother with him. Mary was highly respected and well connected with her membership on several corporate boards, including IBM's. It was through Mary that Bill Gates met the CEO of IBM.

In November 1980, IBM was looking for software that would operate their upcoming personal computer (PC) and approached Microsoft. Legend has it that at the first meeting with Bill Gates someone at IBM mistook him for an office assistant and asked him to serve coffee. 

Gates did look very young, but he quickly impressed IBM, convincing them that he and his company could meet their needs. The only problem was that Microsoft had not developed the basic operating system that would run IBM's new computers. Not to be stopped, Gates bought an operating system that was developed to run on computers similar to IBM's PC. He made a deal with the software's developer, making Microsoft the exclusive licensing agent and later full owner of the software but not telling them of the IBM deal. The company later sued Microsoft and Gates for withholding important information. Microsoft settled out of court for an undisclosed amount, but neither Gates nor Microsoft admitted to any wrongdoing.

Gates had to adapt the newly purchased software to work for the IBM PC. He delivered it for a $50,000 fee, the same price he had paid for the software in its original form. IBM wanted to buy the source code, which would have given them the information to the operating system. Gates refused, instead proposing that IBM pay a licensing fee for copies of the software sold with their computers. Doing this allowed Microsoft to license the software they called MS-DOS to any other PC manufacturer, should other computer companies clone the IBM PC, which they soon did. Microsoft also released software called Softcard, which allowed Microsoft BASIC to operate on Apple II machines.

By 1983, Microsoft was going global with offices in Great Britain and Japan, and with 30 percent of the world's computers running on its software. 

Source: https://www.biography.com