Can giving back to the community actually pay for real estate investing companies?
While charitable donations and philanthropy shouldn’t be preformed for profit or as a media ploy, many real estate investors hold back because they don’t think they can afford it. Well, Bill Gates just busted that myth big time…
Bill Gates, the founder of Microsoft, just moved back into position as the world’s wealthiest billionaire. According to the Bloomberg Billionaires Index, Bill Gates has a net worth of almost $73 billion, up 16% so far this year.
Gates, as many may know, is also perhaps the most notable philanthropist on the planet, having donated at least $28 billion (yes with a ‘B’) to doing good and helping others. Those that have tracked his wealth will know that he initially made his biggest commitment when his wealth was far less than it is today. Philanthropy has played a huge rule in his success, as he acknowledged that giving back is better than getting.
So what real estate education lessons can everyday investors pick up from Bill, in addition to committing to more philanthropic ventures?
Many are unaware that Microsoft only accounts for under 25% of Bill Gates’ fortune. The rest is held under an umbrella LLC and includes heavy investment in real estate. He also has certainly done well by getting out of his own way and letting Microsoft blossom, even among fierce competition.
Other top billionaires are extremely bullish on real estate too. Carlos Slim recently made huge moves into the distressed property market, and Warren Buffett in 3rd position with $59.7 billion continues to expand his march into varied aspects of the real estate industry.
So do you want to make the billionaires club? Invest in real estate, stay diversified, have the right structure for protecting your wealth, give back as much as you can, and do it for the right reasons.