Everyone in the world with access to media (and many without) knows of Bill Gates for his creation of Microsoft and his philanthropic endeavours. Now the former CEO and current Chairman of Microsoft will be spending a fortune to rent a home in Wellington, Florida from December until May.
(Although we suspect that the man probably has enough money to rent the entire state of Florida.)
Why on earth would Bill Gates, the second-wealthiest person in the world, want to rent a home in Florida for just six months when he already owns two other homes – including a massive, ultra-high-tech space-age mansion in Seattle? One word: Ponies.
No, seriously. Ponies.
You see, Gates has a lovely 15-year-old daughter named Jennifer who loves ponies so much that she has several prize-winning ponies and wants to attend the Winter Equestrian Festival held in nearby Palm Beach. WEF is a very prestigious horse festival, so it makes sense why a junior equestrian aficionado like young Miss Gates would want to attend and show off her impressive stable.
Which leads us to why Gates is renting the home. Ponies need places to eat, sleep, and live like the rest of us, with the notable exception that we can sleep virtually anywhere with a bed. Horses need things called stables, and this place in Wellington has them. The eight-bedroom mansion also has a barn and a horse-jumping facility for…you know…jumping horses.
The price? A measly $600,000 a month.
Bill Gates has approximately $52 billion (give or take, depending on how much Microsoft stock is worth that day), so to him, renting massive single family homes for $600k monthly is nothing. In fact, one month’s rent is only 0.0011% of his fortune. All told, when his daughter is done and moved out, he will have spent only 0.0069% of his fortune on the dude ranch.
By comparison, for a median American household with an income of $46,326 a year, that is the equivalent of spending $53.45 a month on rent.
At any rate, we wish Miss Gates the best of luck with her equestrian efforts and think her horses will definitely enjoy the opulent digs. Just don’t get used to it; come May, it’s back to sunny Seattle.
Business Insider Emails & Alerts
Site highlights each day to your inbox.