Bill Gates could have had a fortune of about $1.2 trillion if he had kept his original Microsoft shares, without selling or donating them to charity. This scenario was examined by Forbes in an article from May 9, 2025. The estimate reflects prices of that period.

The calculation also mentioned $1.4 trillion — the hypothetical value of the combined holdings of Bill Gates and Melinda French Gates. If the original shares had been kept, after all stock splits their number would have reached about 3.2 billion shares.

To the value of the stake, Forbes added about $100 billion in accumulated dividends after taxes. The total estimate reached $1.5 trillion. Of this amount, the publication estimated Bill's personal fortune at about $1.2 trillion, modeling a division of assets between the former spouses.

Before Microsoft went public in 1986, Gates owned about 49% of the shares. After the offering, he retained roughly 45%, according to the company's history on Microsoft's website. Over time, the founder reduced this stake.

In reality, Gates sold and donated shares for years. His investment company Cascade Investment diversified capital across various assets, including Republic Services, Deere, and Four Seasons.

Philanthropy was a conscious goal for the billionaire. In a post from May 8, 2025, he announced his intention to give away virtually all of his wealth through the Gates Foundation over the next twenty years. He also stated the planned closure of the foundation on December 31, 2045.

The value of the hypothetical stake cannot be equated to a financial loss. Selling shares provides funds that can be invested in other assets, spent, or donated. To evaluate the outcome, one would also need to consider the fate of that money.

Moreover, the calculation views history with the known performance of Microsoft. At the time of each sale, the future stock price remained unknown. Keeping capital in a single company would have meant dependence of the fortune on its subsequent successes and failures.

Based on materials from: Forbes, Microsoft, Gates Notes.