Munger
—  city  —
Munger Location of Munger in Bihar and India
Coordinates	25°22′52″N 86°27′54″E / 25.381°N 86.465°E / 25.381; 86.465Coordinates: 25°22′52″N 86°27′54″E / 25.381°N 86.465°E / 25.381; 86.465
Country	India
State	Bihar
District(s)	Munger
Population	213,101 (2011[update])
Time zone	IST (UTC+05:30)
Area • Elevation	• 43 metres (141 ft)
Codes • Pincode • 811201 • Telephone • ++91-6344 • Vehicle • BR08-
Website	Munger.bih.nic.in

Munger (Hindi: मुंगेर) (Urdu: مگیر )town is the headquarters of Munger district, in the Indian state of Bihar. Historically, Munger is known for its manufacturing of iron articles such as firearms and swords. One of the major institutions in Munger is Bihar School of Yoga. It is one of the foremost learning center in the world for Yoga and frequented by people all over the globe. Munger is situated on the banks of the Ganges and known for its pleasant bathing ghats.

History[link]

It has been identified with Mod-Giri a place mentioned in the Mahabharata was the kingdom of Raja Karna.However the first historical account of the district appears in the Travels of HIUEN TSIANG,a famous Chinese traveller.Munger came again into Prominence in 1762 when Kasim Ali Khan made it his capital instead of Murshidbad in Bengal.

Manufacturing Gun at Munger is more than 200 years old story.During the First World War period the Munger gun manufacturers came in to the prominence and production of cartridge gun was developed. Munger was perhaps the only city in India where guns manufacturers took shape of a cottage industry and become a popular profession.During Indo-China War of 1962 the defense ministry was in need of 410 bore Muscat which was prepared by Munger Gun Factory.

This section requires expansion.

See:Karna See: Munger Fort

Demographics[link]

As per 2011 census, Munger Municipal Corporation had a total population of 213,101, out of which 113,173 were males and 99,928 were females. It had a sex ratio of 883. The population below 5 years was 29,260. The literacy rate of the 7+ population was 81.83 per cent.^[1]

Places of interest[link]

• Munger Fort,covers an area of around 222 acres,annexed by the Khiljis, Tughlaqs, Lodis, Nawabs of Bengal, Mughals and British
• Bihar School of Yoga,
• Sita Kund, a hot water continuous spring
• Kastaharni Ghat,beautiful bank of The Ganga
• Tomb of Pir Shah Nufa,Sufi saint from Persia who was sent to Munger by Khwaja Moinuddin Chishti of Ajmer in 1177
• Bhimbandh Wildlife Sanctuary, covers an area of around 682 km² consist of a hot water spring, sambar, chital, nilgai, wild boar, tiger and panther.
• Pirpahar, tomb on hill near bank of Ganga

Transport[link]

Railway : Nearest railway station is Jamalpur on Sahibganj Loop (Kiul Junction-Khana Junction) line on Howrah-Delhi route. It is 8 km from Munger city and well connect with major cities in India with good frequency of express and passenger trains.

Airport : Munger has a small airport with no commercial service and used only for VIP movements. Nearest domestic airport with commercial service is Patna airport around 180 km away. Patna is served by all major airlines. Nearest international airport is Netaji Subhash Chandra Bose International Airport in Kolkata.

Road : Munger is connected with NH-80 and various state highways.

Munger Ganga Bridge is under construction.

Education[link]

Munger has many good schools, colleges and Institution.

• Schools - New Era Public School, 1st Notre Dame Academy School in India was founded in Jamalpur,Munger Bihar in 1950, Saraswati Vidya Mandir, DAV Public School, St. Xavier's School,Eastern Railway High School Jamalpur, Kendriya Vidyalaya, Little Angels School, S.K.D. Memorial Public School,Arya Bal Shanti Niketan Junior Branch Maulsiritalle Munger and Senior Branch Munger - Jamalpur Road Jamalpur. The oldest school in the district is the Zila School (formerly Government English School) which was founded in 1854. There are two girls' schools, Baijnath Girls School and Balmiki Rajniti Balika Vidyalaya, Madhopur, in Munger town. Govt school like Model High School, etc.

• Colleges - R.D. & D.J. College, Balmiki Rajniti Mahila Mahavidyalaya, J.R.S. College are institutes for higher education. R.D. & D.J. College is one of the oldest and renowned College in the Bihar and Eastern India Zone. The alumni of these institutes are now working all over world and have brought laurels to the district.

Tourism[link]

The biggest tourist attraction in Munger is Bihar School of Yoga, attended by people from various countries.

People from various nearby place come to various Ganges ghats on religious occasions. The city also see huge crowd during Durga Puja festival.

Kastaharni Ghat is one of various bathing ghats on the Ganges and religiously the most significant. This is one of the few places where the Ganges meanders and flows in the northern direction (Uttarvahini Ganges). Because of this it is considered very auspicious by Hindu believers.

Chandika Asthan is one of the sixty-four shakti peeths spread across India and is situated on the north-east corner of Munger. It sees a huge crowd of devotees all round the year and specially during Navratras.

Munger has one of the oldest railway manufacturing units and also the ITC Tobacco factory.

Earlier spelled Monghyr and now Munger it has a rich and glorious past and stories abound. Madarsa Rahmania is the largest Islamic School in the state.

Bhimbandh and Kharagpur Lake are great picnic spot. It has a stream of hot water coming from the mountains nearby and one stream of cold water also, both the streams merge here only and then are later joined in ganges river.

Famous personalities[link]

• Krishna Sinha, First CM of Bihar, freedom fighter and a Gandhian.
• Vishal Kumar
• Swami Niranjanananda Saraswati
• Swami Satyananda Saraswati
• Ramdhari Singh Dinkar, National Poet.
• Pooja Misrra, VJ & Model

References[link]

External links[link]

• Munger District-Official Website
• Munger District Photos
• Posts from District Magistrate Munger
• Munger District on Facebook

 This article incorporates text from a publication now in the public domain: Chisholm, Hugh, ed. (1911). Encyclopædia Britannica (11th ed.). Cambridge University Press. 

Charlie Munger
Munger at Berkshire Hathaway's 2010 shareholder meeting
Born	(1924-01-01) January 1, 1924 (age 88) Omaha, Nebraska
Occupation	Vice-Chairman of Berkshire Hathaway Corporation Chairman of Wesco Financial Corporation Chairman of Daily Journal Corporation
Salary	$100,000 USD
Net worth	$1 billion USD [1]

Charles Thomas Munger (born January 1, 1924, in Omaha, Nebraska) is an American business magnate, lawyer, investor, and philanthropist. He is Vice-Chairman of Berkshire Hathaway Corporation, the diversified investment corporation chaired by Warren Buffett; in that capacity, Buffett describes Munger as "my partner." Munger served as chairman of Wesco Financial Corporation from 1984 through 2011 (Wesco was approximately 80%-owned by Berkshire-Hathaway during that time). He is also the chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation.

Biography[link]

Like Buffett, Munger is a native of Omaha, Nebraska. After studies in mathematics at the University of Michigan, and service in the U.S. Army Air Corps as a meteorologist, trained at Caltech, he entered Harvard Law School, where he was a member of the Harvard Legal Aid Bureau, without an undergraduate degree. Graduating in 1948 with a Juris Doctor magna cum laude, he founded and worked as a real estate attorney at Munger, Tolles & Olson LLP until 1965. He then gave up the practice of law to concentrate on managing investments. He partnered with Otis Booth in real estate development. He partnered with Jack Wheeler to form Wheeler, Munger, and Company, an investment firm with a seat on the Pacific Coast Stock Exchange. He wound up Wheeler, Munger in 1976 after losses of 31% in 1973 and 1974.^[2]

Although Munger is better known for his association with Warren Buffett, he ran an investment partnership of his own from 1962 to 1975. According to Buffett's essay, "The Superinvestors of Graham-and-Doddsville," published in 1984, Munger's investment partnership generated compound annual returns of 19.8% during the 1962–75 period compared to a 5.0% annual appreciation rate for the Dow.

Munger was previously also the chairman of Wesco Financial Corporation, now a wholly owned subsidiary of Berkshire Hathaway. It began as a savings and loan association, but eventually grew to control Precision Steel Corp., CORT Furniture Leasing, Kansas Bankers Surety Company, and other ventures. Wesco Financial also held a concentrated equity portfolio of over $1.5 billion dollars in companies such as Coca-Cola, Wells Fargo, Procter & Gamble, Kraft Foods, US Bancorp, and Goldman Sachs. Munger believes that holding a concentrated number of stocks, that he knows extremely well, will in the long term produce superior returns. Wesco is based in Pasadena, California, Munger's adopted hometown. Pasadena was also the site of the company's annual shareholders' meeting, which were typically held on the Wednesday or Thursday after the more famous Berkshire Hathaway annual meeting. Munger's meetings were nearly as legendary in the investment community as those he co-hosts with Buffett in Omaha. Such meetings were often perfunctory, but Munger interacted with the other Wesco shareholders at considerable length, sometimes speculating about what his hero Benjamin Franklin would do in a given situation.^[3] Meeting notes are taken and posted on the internet.^[4]

Buffett has often publicly stated that he regards Munger as his partner. Indeed, Munger owns enough Berkshire Hathaway stock to be a bona fide billionaire in his own right. However, Munger is hardly a carbon copy of Buffett: Munger is known to be a Republican, whereas Buffett has generally supported Democrats. Buffett devotes his time almost exclusively to his business, while Munger, who does not involve himself in the day-to-day operations of Berkshire, is a generalist for whom investment is only one of a broad range of interests.

Philanthropy[link]

Munger Graduate Residence at Stanford University

Munger is a major benefactor of the University of Michigan. In 2007, Munger made a $3 million gift to the University of Michigan Law School for lighting improvements in Hutchins Hall and the William W. Cook Legal Research Building, including the noted Reading Room. In 2011, Munger made another gift to the Law School, contributing $20 million for renovations to the Lawyers Club housing complex, which will cover the majority of the $39 million cost. The renovated portion of the Lawyers Club will be renamed the Charles T. Munger Residences in the Lawyers Club in his honor.^[5][6][7][8] On December 28, 2011, Munger donated 10 shares of Berkshire Hathaway Class A stock (currently valued at $115,900 per share, or $1.2 million total) to the University of Michigan.^[9]

In addition to the University of Michigan, Munger and his wife Nancy B. Munger have been major benefactors of Stanford University. Nancy Munger was an alumna of Stanford, and Charlie Munger's daughter from a previous marriage, Wendy Munger was also an alumna (A.B. 1972) is currently a member of the board. In 2004, the Mungers donated 500 shares of Berkshire Hathaway Class A stock, then valued at $43.5 million, to Stanford to build a graduate student housing complex.^[10][11] The Munger Graduate Residence opened in late 2009 and is now houses 600 law and graduate students.^[12] The Mungers also gave a major gift to Stanford's Green Library to fund the restoration of the Bing Wing as well as the construction of a rotunda on the library's second floor, and endowed the Munger Chair in Nancy and Charles Munger Professorship of Business at Stanford Law School.^[13][14]

In 1997, the Mungers donated $1.8 million to the Marlborough School in Los Angeles, of which Nancy Munger was an alumna.^[13] The couple also donated to the Polytechnic School in Pasadena and the Los Angeles YMCA.^[15]

Munger has been a trustee of the Harvard-Westlake School in Los Angeles for more than 40 years, and previously served as chair of the board of trustees. His five sons and stepsons as well as at least one grandson graduated from the prep school. In 2009, Munger donated eight shares of Berkshire Hathaway Class A stock, worth nearly $800,000, to Harvard-Westlake.^[16][13] In 2006, Munger donated 100 shares of Berkshire Hathaway Class A stock, then valued at $9.2 million, to the school toward a building campaign at Harvard-Westlake's middle school campus. The Mungers had previously made a gift to build the $13 million Munger Science Center at the high school campus, a two-story classroom and laboratory building which opened in 1995 and has been described as "a science teacher's dream."^[17][18] The design of the Science Center was substantially influenced by Munger.^[13]

Business philosophy[link]

In multiple speeches, and in the book Poor Charlie's Almanack, Munger has introduced the concept of "Elementary, Worldly Wisdom" as it relates to business and finance. Munger's worldly wisdom consists of a set of mental models framed as a latticework to help solve critical business problems.^[19] According to Munger, only 80 or 90 important models will carry about 90% of the freight in making you a worldly-wise person.

He believes that incentives explain why people behave the way they do.

Munger's words of wisdom include those that profess high ethical standards. In the 2009 Wesco Financial Corporation annual meeting he said, "Good businesses are ethical businesses. A business model that relies on trickery is doomed to fail."^[20]

In a 2010 speech to University of Michigan students Munger commented that "...I think it is very dangerous to assume that what people did to save the whole banking system was wrong...I think we come to a place where we, where everybody, has to suck it in and gulp." ^[21] The last part of the sentence refers to Munger's belief that United States citizens will collectively face a less opulent economic environment in the coming years.

Lollapalooza Effect[link]

Munger uses the term "Lollapalooza Effect" for multiple biases, tendencies or mental models acting at the same time in the same direction. With the Lollapalooza effect, itself a mental model, the result is often extreme, due to the confluence of the mental models, biases or tendencies acting together. During a talk at Harvard in 1995, Munger mentions Tupperware parties and open outcry auctions, which turn the human brain into "mush". In the Tupperware party, you have reciprocation and social proof. (The hostess gave the party and the tendency is to reciprocate; other people are buying, which is the social proof.) In the open outcry auction, there is social proof of others bidding, commitment to buying the item, and deprivation super-reaction syndrome, i.e. sense of loss. The latter is an individual's sense of loss of what he believe should be or is his. These biases often occur at either conscious or subconscious level, and in both microeconomic and macroeconomic scale.^[22]

Family[link]

From his first marriage, Charles Munger has two children: Wendy Munger, a former corporate lawyer and trustee of Stanford University,^[23] and Molly Munger, a civil rights attorney and funder of a ballot initiative to raise taxes on Californians for public education.^[24] From his marriage with Nancy Barry, Munger has four children - physicist and Republican activist Charles T. Munger,^[25] Emilie Munger Ogden, Barry A. Munger, and Philip R. Munger, and two stepchildren - William Harold Borthwick and David Borthwick.^[26] Nancy Munger died in 2010.^[27]

References[link]

Books[link]

• Lowe, Janet (2000) Damn Right! Behind the scenes with Berkshire Hathaway billionaire Charlie Munger, John Wiley & Sons (ISBN 0-471-24473-2)
• Kaufman, Peter (2005 and 2006 for the second edition) "Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger" http://www.poorcharliesalmanack.com/
• Bevelin, Peter (2007) Seeking Wisdom: From Darwin to Munger (ISBN 1-57864-428-3)
• Labitan, Bud (2008) The Four Filters Invention of Warren Buffett and Charlie Munger, Acalmix (ISBN 978-0-615-24129-6)

Regulatory filings[link]

• SEC.gov - Wesco Financial Corp (WSC) - EDGAR Filings (CIK: 0000105729) the EDGAR database
• SEC.gov - Charles T. Munger - EDGAR Filings (CIK: 0001078511) the EDGAR database

External links[link]

• Latest Holdings in Berkshire Hathaway Portfolio, Dynamic
• Charlie Munger - Treasure Trove
• Charlie Munger - A Compilation
• Speech at USC, May 2007
• Audio: Standard Causes of Human Misjudgment
• Charlie Munger Link Collection
• Munger Speeches & Writings
• Munger's Speech on Mental Models
• "In the Money" (2001 Harvard Law Bulletin article)
• Munger's Worldly Wisdom (1994 USC Business School)
• Charlie Munger's Lollapalooza Effect and This Credit Fiasco (2008)
• Munger Says 'Thank God' U.S. Opted for Bailouts Over Handouts (Bloomberg article) (2010)
• Charlie Munger Quotes

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Bill Gates
Gates at the World Economic Forum in 2007
Born	William Henry Gates III (1955-10-28) October 28, 1955 (age 56) Seattle, Washington, United States
Residence	Medina, Washington, United States
Nationality	American
Alma mater	Harvard University (dropped out)
Occupation	Chairman of Microsoft Co-Chair of the Bill & Melinda Gates Foundation CEO of Cascade Investment Chairman of Corbis
Years active	1975–present
Net worth	US$ 61 billion (2012)[1]
Board member of	Berkshire Hathaway
Religion	None (Agnostic[2][3])
Spouse	Melinda Gates (m. 1994) «start: (1994)»"Marriage: Melinda Gates to Bill Gates" Location: (linkback:http://en-wiki.pop.wn.com/index.php/Bill_Gates)
Children	3
Parents	William H. Gates, Sr. Mary Maxwell Gates
Signature
Website
Bill Gates

William Henry "Bill" Gates III (born October 28, 1955 in Seattle, Washington)^[4] is an American business magnate, computer programmer and philanthropist. Gates is the former chief executive officer (CEO) and current chairman of Microsoft, the world’s largest personal-computer software company he co-founded with Paul Allen. He is consistently ranked among the world's wealthiest people^[5] and was the wealthiest overall from 1995 to 2009, excluding 2008, when he was ranked third;^[6] in 2011 he was the wealthiest American and the second wealthiest person.^[7][8] During his career at Microsoft, Gates held the positions of CEO and chief software architect, and remains the largest individual shareholder, with 6.4 percent of the common stock.^[9] He has also authored or co-authored several books.

Gates is one of the best-known entrepreneurs of the personal computer revolution. Gates has been criticized for his business tactics, which have been considered anti-competitive, an opinion which has in some cases been upheld by the courts.^[10][11] In the later stages of his career, Gates has pursued a number of philanthropic endeavors, donating large amounts of money to various charitable organizations and scientific research programs through the Bill & Melinda Gates Foundation, established in 2000.^[12]

Gates stepped down as chief executive officer of Microsoft in January 2000. He remained as chairman and created the position of chief software architect. In June 2006, Gates announced that he would be transitioning from full-time work at Microsoft to part-time work, and full-time work at the Bill & Melinda Gates Foundation. He gradually transferred his duties to Ray Ozzie, chief software architect, and Craig Mundie, chief research and strategy officer. Gates's last full-time day at Microsoft was June 27, 2008. He remains at Microsoft as non-executive chairman.

Early life[link]

Bill Gates was photographed by the Albuquerque, New Mexico police in 1977 after a traffic violation (details of which have been lost over time).

Gates was born in Seattle, Washington, to William H. Gates, Sr. and Mary Maxwell Gates. His parents are of English, German, and Scots-Irish descent.^[13][14] His father was a prominent lawyer, and his mother served on the board of directors for First Interstate BancSystem and the United Way. Gates's maternal grandfather was J. W. Maxwell, a national bank president. Gates has one elder sister, Kristi (Kristianne), and one younger sister, Libby. He was the fourth of his name in his family, but was known as William Gates III or "Trey" because his father had the "II" suffix.^[15] Early on in his life, Gates's parents had a law career in mind for him.^[16] When Gates was young, his family regularly attended a Congregational church.^[17][18][19]

At 13 he enrolled in the Lakeside School, an exclusive preparatory school.^[20] When he was in the eighth grade, the Mothers Club at the school used proceeds from Lakeside School's rummage sale to buy a Teletype Model 33 ASR terminal and a block of computer time on a General Electric (GE) computer for the school's students.^[21] Gates took an interest in programming the GE system in BASIC, and was excused from math classes to pursue his interest. He wrote his first computer program on this machine: an implementation of tic-tac-toe that allowed users to play games against the computer. Gates was fascinated by the machine and how it would always execute software code perfectly. When he reflected back on that moment, he said, "There was just something neat about the machine."^[22] After the Mothers Club donation was exhausted, he and other students sought time on systems including DEC PDP minicomputers. One of these systems was a PDP-10 belonging to Computer Center Corporation (CCC), which banned four Lakeside students—Gates, Paul Allen, Ric Weiland, and Kent Evans—for the summer after it caught them exploiting bugs in the operating system to obtain free computer time.^[23]

At the end of the ban, the four students offered to find bugs in CCC's software in exchange for computer time. Rather than use the system via Teletype, Gates went to CCC's offices and studied source code for various programs that ran on the system, including programs in FORTRAN, LISP, and machine language. The arrangement with CCC continued until 1970, when the company went out of business. The following year, Information Sciences, Inc. hired the four Lakeside students to write a payroll program in COBOL, providing them computer time and royalties. After his administrators became aware of his programming abilities, Gates wrote the school's computer program to schedule students in classes. He modified the code so that he was placed in classes with mostly female students. He later stated that "it was hard to tear myself away from a machine at which I could so unambiguously demonstrate success."^[22] At age 17, Gates formed a venture with Allen, called Traf-O-Data, to make traffic counters based on the Intel 8008 processor.^[24] In early 1973, Bill Gates served as a congressional page in the U.S. House of Representatives.^[25]

Gates graduated from Lakeside School in 1973. He scored 1590 out of 1600 on the SAT^[26] and enrolled at Harvard College in the autumn of 1973.^[27] While at Harvard, he met Steve Ballmer, who later succeeded Gates as CEO of Microsoft.

The Poker Room in Currier House at Harvard University, in which Bill Gates and Steve Ballmer formed Microsoft

In his sophomore year, Gates devised an algorithm for pancake sorting as a solution to one of a series of unsolved problems^[28] presented in a combinatorics class by Harry Lewis, one of his professors. Gates's solution held the record as the fastest version for over thirty years;^[28][29] its successor is faster by only one percent.^[28] His solution was later formalized in a published paper in collaboration with Harvard computer scientist Christos Papadimitriou.^[30]

Gates did not have a definite study plan while a student at Harvard^[31] and spent a lot of time using the school's computers. Gates remained in contact with Paul Allen, and he joined him at Honeywell during the summer of 1974.^[32] The following year saw the release of the MITS Altair 8800 based on the Intel 8080 CPU, and Gates and Allen saw this as the opportunity to start their own computer software company.^[33] He had talked this decision over with his parents, who were supportive of him after seeing how much Gates wanted to start a company.^[31]

Microsoft[link]

BASIC[link]

MITS Altair 8800 Computer with 8-inch (200 mm) floppy disk system

After reading the January 1975 issue of Popular Electronics that demonstrated the Altair 8800, Gates contacted Micro Instrumentation and Telemetry Systems (MITS), the creators of the new microcomputer, to inform them that he and others were working on a BASIC interpreter for the platform.^[34] In reality, Gates and Allen did not have an Altair and had not written code for it; they merely wanted to gauge MITS's interest. MITS president Ed Roberts agreed to meet them for a demo, and over the course of a few weeks they developed an Altair emulator that ran on a minicomputer, and then the BASIC interpreter. The demonstration, held at MITS's offices in Albuquerque was a success and resulted in a deal with MITS to distribute the interpreter as Altair BASIC. Paul Allen was hired into MITS,^[35] and Gates took a leave of absence from Harvard to work with Allen at MITS in Albuquerque in November 1975. They named their partnership "Micro-Soft" and had their first office located in Albuquerque.^[35] Within a year, the hyphen was dropped, and on November 26, 1976, the trade name "Microsoft" was registered with the Office of the Secretary of the State of New Mexico.^[35] Gates never returned to Harvard to complete his studies.

Microsoft's BASIC was popular with computer hobbyists, but Gates discovered that a pre-market copy had leaked into the community and was being widely copied and distributed. In February 1976, Gates wrote an Open Letter to Hobbyists in the MITS newsletter saying that MITS could not continue to produce, distribute, and maintain high-quality software without payment.^[36] This letter was unpopular with many computer hobbyists, but Gates persisted in his belief that software developers should be able to demand payment. Microsoft became independent of MITS in late 1976, and it continued to develop programming language software for various systems.^[35] The company moved from Albuquerque to its new home in Bellevue, Washington on January 1, 1979, after the former rejected his loan application.^[34]

During Microsoft's early years, all employees had broad responsibility for the company's business. Gates oversaw the business details, but continued to write code as well. In the first five years, Gates personally reviewed every line of code the company shipped, and often rewrote parts of it as he saw fit.^[37]

IBM partnership[link]

IBM approached Microsoft in July 1980 regarding its upcoming personal computer, the IBM PC.^[38] The computer company first proposed that Microsoft write the BASIC interpreter. When IBM's representatives mentioned that they needed an operating system, Gates referred them to Digital Research (DRI), makers of the widely used CP/M operating system.^[39] IBM's discussions with Digital Research went poorly, and they did not reach a licensing agreement. IBM representative Jack Sams mentioned the licensing difficulties during a subsequent meeting with Gates and told him to get an acceptable operating system. A few weeks later Gates proposed using 86-DOS (QDOS), an operating system similar to CP/M that Tim Paterson of Seattle Computer Products (SCP) had made for hardware similar to the PC. Microsoft made a deal with SCP to become the exclusive licensing agent, and later the full owner, of 86-DOS. After adapting the operating system for the PC, Microsoft delivered it to IBM as PC-DOS in exchange for a one-time fee of $50,000.^[40]

Gates did not offer to transfer the copyright on the operating system, because he believed that other hardware vendors would clone IBM's system.^[40] They did, and the sales of MS-DOS made Microsoft a major player in the industry.^[41] Despite IBM's name on the operating system the press quickly identified Microsoft as being very influential on the new computer, with PC Magazine asking if Gates were "The Man Behind The Machine?"^[38] He oversaw Microsoft's company restructuring on June 25, 1981, which re-incorporated the company in Washington state and made Gates President of Microsoft and the Chairman of the Board.^[34]

Windows[link]

Microsoft launched its first retail version of Microsoft Windows on November 20, 1985, and in August, the company struck a deal with IBM to develop a separate operating system called OS/2. Although the two companies successfully developed the first version of the new system, mounting creative differences caused the partnership to deteriorate. It ended in 1991, when Gates led Microsoft to develop a version of OS/2 independently from IBM.^[42]

Management style[link]

From Microsoft's founding in 1975 until 2006, Gates had primary responsibility for the company's product strategy. He aggressively broadened the company's range of products, and wherever Microsoft achieved a dominant position he vigorously defended it. He gained a reputation for being distant to others; as early as 1981 an industry executive complained in public that "Gates is notorious for not being reachable by phone and for not returning phone calls."^[43]

As an executive, Gates met regularly with Microsoft's senior managers and program managers. Firsthand accounts of these meetings describe him as verbally combative, berating managers for perceived holes in their business strategies or proposals that placed the company's long-term interests at risk.^[44][45] He often interrupted presentations with such comments as, "That's the stupidest thing I've ever heard!"^[46] and, "Why don't you just give up your options and join the Peace Corps?"^[47] The target of his outburst then had to defend the proposal in detail until, hopefully, Gates was fully convinced.^[46] When subordinates appeared to be procrastinating, he was known to remark sarcastically, "I'll do it over the weekend."^[48][49][50]

Gates's role at Microsoft for most of its history was primarily a management and executive role. However, he was an active software developer in the early years, particularly on the company's programming language products. He has not officially been on a development team since working on the TRS-80 Model 100,^[51] but wrote code as late as 1989 that shipped in the company's products.^[49] On June 15, 2006, Gates announced that he would transition out of his day-to-day role over the next two years to dedicate more time to philanthropy. He divided his responsibilities between two successors, placing Ray Ozzie in charge of day-to-day management and Craig Mundie in charge of long-term product strategy.^[52]

Antitrust litigation[link]

Bill Gates giving his deposition at Microsoft on August 27, 1998

Many decisions that led to antitrust litigation over Microsoft's business practices have had Gates's approval. In the 1998 United States v. Microsoft case, Gates gave deposition testimony that several journalists characterized as evasive. He argued with examiner David Boies over the contextual meaning of words such as, "compete", "concerned", and "we".^[53] BusinessWeek reported:

Early rounds of his deposition show him offering obfuscatory answers and saying 'I don't recall,' so many times that even the presiding judge had to chuckle. Worse, many of the technology chief's denials and pleas of ignorance were directly refuted by prosecutors with snippets of e-mail that Gates both sent and received.^[54]

Gates later said he had simply resisted attempts by Boies to mischaracterize his words and actions. As to his demeanor during the deposition, he said, "Did I fence with Boies? ... I plead guilty. Whatever that penalty is should be levied against me: rudeness to Boies in the first degree."^[55] Despite Gates's denials, the judge ruled that Microsoft had committed monopolization and tying, and blocking competition, both in violation of the Sherman Antitrust Act.^[55]

Appearance in ads[link]

Gates appeared in a series of ads to promote Microsoft in 2008. The first commercial, co-starring Jerry Seinfeld, is a 90-second talk between strangers as Seinfeld walks up on a discount shoe store (Shoe Circus) in a mall and notices Gates buying shoes inside. The salesman is trying to sell Mr. Gates shoes that are a size too big. As Gates is buying the shoes, he holds up his discount card, which uses a slightly altered version of his own mugshot of his arrest in New Mexico in 1977 for a traffic violation.^[56] As they are walking out of the mall, Seinfeld asks Gates if he has melded his mind to other developers, after getting a yes, he then asks if they are working on a way to make computers edible, again getting a yes. Some say that this is an homage to Seinfeld's own show about "nothing" (Seinfeld).^[57] In a second commercial in the series, Gates and Seinfeld are at the home of an average family trying to fit in with normal people.

Post-Microsoft[link]

Since leaving day-to-day operations at Microsoft (where he remains Chairman^[58]), Gates continues his philanthropy and, among other projects, purchased the video rights to the Messenger Lectures series called The Character of Physical Law, given at Cornell University by Richard Feynman in 1964 and recorded by the BBC. The videos are available online to the public at Microsoft's Project Tuva.^[59][60]

In April 2010, Gates was invited to visit and speak at the Massachusetts Institute of Technology where he asked the students to take on the hard problems of the world in their futures.^[61][62]

Personal life[link]

Bill and Melinda Gates, June 2009

Gates married Melinda French on January 1, 1994. They have two daughters, Jennifer Katharine Gates (1996) and Phoebe Adele (2002), and one son, Rory John (1999).

The Gates's home is an earth-sheltered house in the side of a hill overlooking Lake Washington in Medina. According to King County public records, as of 2006 the total assessed value of the property (land and house) is $125 million, and the annual property tax is $991,000.

His 66,000 sq ft (6,100 m²) estate has a 60-foot (18 m) swimming pool with an underwater music system, as well as a 2,500 sq ft (230 m²) gym and a 1,000 sq ft (93 m²) dining room.^[63]

Also among Gates's private acquisitions is the Codex Leicester, a collection of writings by Leonardo da Vinci, which Gates bought for $30.8 million at an auction in 1994.^[64] Gates is also known as an avid reader, and the ceiling of his large home library is engraved with a quotation from The Great Gatsby.^[65] He also enjoys playing bridge, tennis, and golf.^[66][67]

Gates was number one on the Forbes 400 list from 1993 through to 2007 and number one on Forbes list of The World's Richest People from 1995 to 2007 and 2009. In 1999, Gates's wealth briefly surpassed $101 billion, causing the media to call him a "centibillionaire".^[68] Since 2000, the nominal value of his Microsoft holdings has declined due to a fall in Microsoft's stock price after the dot-com bubble burst and the multi-billion dollar donations he has made to his charitable foundations. In a May 2006 interview, Gates commented that he wished that he were not the richest man in the world because he disliked the attention it brought.^[69] Gates has several investments outside Microsoft, which in 2006 paid him a salary of $616,667 and $350,000 bonus totalling $966,667.^[70] He founded Corbis, a digital imaging company, in 1989. In 2004 he became a director of Berkshire Hathaway, the investment company headed by long-time friend Warren Buffett.^[71] In March 2010 Bill Gates was bumped down to the second wealthiest man behind Carlos Slim.

Philanthropy[link]

Gates (second from right) with Bono, Queen Rania of Jordan, Former British Prime Minister Gordon Brown, President Umaru Yar'Adua of Nigeria and other participants in a 'Call to Action on the Millennium Development Goals' during the Annual Meeting 2008 of the World Economic Forum in Davos, Switzerland

Gates began to appreciate the expectations others had of him when public opinion mounted suggesting that he could give more of his wealth to charity. Gates studied the work of Andrew Carnegie and John D. Rockefeller, and in 1994 sold some of his Microsoft stock to create the William H. Gates Foundation. In 2000, Gates and his wife combined three family foundations into one to create the charitable Bill & Melinda Gates Foundation, which is the largest transparently operated charitable foundation in the world.^[72] The foundation allows benefactors access to information regarding how its money is being spent, unlike other major charitable organizations such as the Wellcome Trust.^[73][74] The generosity and extensive philanthropy of David Rockefeller has been credited as a major influence. Gates and his father met with Rockefeller several times, and modeled their giving in part on the Rockefeller family's philanthropic focus, namely those global problems that are ignored by governments and other organizations.^[75] As of 2007, Bill and Melinda Gates were the second-most generous philanthropists in America, having given over $28 billion to charity.^[76] They plan to eventually give 95% of their wealth to charity.^[77]

The foundation was at the same time criticized because it invests assets that it has not yet distributed with the exclusive goal of maximizing return on investment. As a result, its investments include companies that have been charged with worsening poverty in the same developing countries where the Foundation is attempting to relieve poverty. These include companies that pollute heavily, and pharmaceutical companies that do not sell into the developing world.^[78] In response to press criticism, the foundation announced in 2007 a review of its investments, to assess social responsibility.^[79] It subsequently canceled the review and stood by its policy of investing for maximum return, while using voting rights to influence company practices.^[80] The Gates Millennium Scholars program has been criticized for its exclusion of Caucasian students.^[81][82]

Gates's wife urged people to learn a lesson from the philanthropic efforts of the Salwen family, which had sold its home and given away half of its value, as detailed in The Power of Half.^[83] Gates and his wife invited Joan Salwen to Seattle to speak about what the family had done, and on December 9, 2010, Gates, investor Warren Buffett, and Mark Zuckerberg (Facebook's CEO) signed a promise they called the "Gates-Buffet Giving Pledge", in which they promised to donate to charity at least half of their wealth over the course of time.^[84][85][86]

Recognition[link]

In 1987, Gates was officially declared a billionaire in the pages of Forbes' 400 Richest People in America issue, just days before his 32nd birthday. As the world's youngest self-made billionaire, he was worth $1.25 billion, over $900 million more than he'd been worth the year before, when he'd debuted on the list.^[87]

Bill Gates and Steve Jobs at the fifth D: All Things Digital conference (D5) in 2007

Time magazine named Gates one of the 100 people who most influenced the 20th century, as well as one of the 100 most influential people of 2004, 2005, and 2006. Time also collectively named Gates, his wife Melinda and U2's lead singer Bono as the 2005 Persons of the Year for their humanitarian efforts.^[88] In 2006, he was voted eighth in the list of "Heroes of our time".^[89] Gates was listed in the Sunday Times power list in 1999, named CEO of the year by Chief Executive Officers magazine in 1994, ranked number one in the "Top 50 Cyber Elite" by Time in 1998, ranked number two in the Upside Elite 100 in 1999 and was included in The Guardian as one of the "Top 100 influential people in media" in 2001.^[90]

In 1994, he was honoured as the twentieth Distinguished Fellow of the British Computer Society. Gates has received honorary doctorates from Nyenrode Business Universiteit, Breukelen, The Netherlands, in 2000;^[91] the Royal Institute of Technology, Stockholm, Sweden, in 2002; invited in 2003 to deliver the keynote address^[92] of the Golden Jubilee of the Indian Institute of Technology,held in San Jose, California;^[93] Waseda University, Tokyo, Japan, in 2005; Tsinghua University, Beijing, China, in April 2007;^[94] Harvard University in June 2007;^[95] the Karolinska Institutet, Stockholm, in January 2008,^[96] and Cambridge University in June 2009.^[97] He was also made an honorary trustee of Peking University in 2007.^[98] Gates was also made an honorary Knight Commander of the Order of the British Empire (KBE) by Queen Elizabeth II in 2005,^[99] in addition to having entomologists name the Bill Gates flower fly, Eristalis gatesi, in his honor.^[100]

In November 2006, he and his wife were awarded the Order of the Aztec Eagle for their philanthropic work around the world in the areas of health and education, particularly in Mexico, and specifically in the program "Un país de lectores".^[101] In October 2009, it was announced that Gates will be awarded the 2010 Bower Award for Business Leadership of The Franklin Institute for his achievements in business and for his philanthropic work. In 2010 he was honored with the Silver Buffalo Award by the Boy Scouts of America, its highest award for adults, for his service to youth.^[102]

In 2011, Bill Gates was ranked as the fifth most powerful person in the world, according to rankings by Forbes magazine.^[103]

Investments[link]

• Cascade Investments LLC, a private investment and holding company, incorporated in United States, is controlled by Bill Gates, and is headquartered in the city of Kirkland, Washington.
• bgC3, a new think-tank company founded by Bill Gates.
• Corbis, a digital image licensing and rights services company.
• TerraPower, a nuclear reactor design company.

Books and films[link]

To date, Bill Gates has authored two books. The Road Ahead, written with Microsoft executive Nathan Myhrvold and journalist Peter Rinearson, was published in November 1995, and it summarized the implications of the personal computing revolution and described a future profoundly changed by the arrival of a global information superhighway. Business @ the Speed of Thought was published in 1999, and discusses how business and technology are integrated, and shows how digital infrastructures and information networks can help getting an edge on the competition.

Gates has appeared in a number of documentaries, including the 2010 documentary film Waiting for "Superman",^[104] and the BBC documentary series The Virtual Revolution.

Gates was prominently featured in Pirates of Silicon Valley, a 1999 film which chronicles the rise of Apple and Microsoft from the early 1970s to 1997. He was portrayed by Anthony Michael Hall.

See also[link]

	Biography portal
	Microsoft portal

• List of billionaires (also see List of college dropout billionaires and List of wealthiest non-inflated historical figures)
• Paul Allen – Microsoft's co-founder, friend, and fellow billionaire
• Gary Kildall (October 25, 2004). "The Man Who Could Have Been Bill Gates". Bloomberg BusinessWeek. http://www.businessweek.com/magazine/content/04_43/b3905109_mz063.htm. Retrieved June 9, 2010. 

Books[link]

• Fridson, Martin (2001). How to Be a Billionaire: Proven Strategies from the Titans of Wealth. John Wiley & Sons. ISBN 0-471-41617-7. 
• Gates, Bill (1996). The Road Ahead. Penguin Books. ISBN 0-14-026040-4. 
• Lesinski, Jeanne M. (2006). Bill Gates (Biography (a & E)). A&E Television Networks. ISBN 0-8225-7027-0. 
• Manes, Stephen (1994). Gates: How Microsoft's Mogul Reinvented an Industry and Made Himself The Richest Man in America. Touchstone Pictures. ISBN 0-671-88074-8. 
• Wallace, James (1993). Hard Drive: Bill Gates and the Making of the Microsoft Empire. New York: HarperCollins Publishers. ISBN 0-471-56886-4. 

References[link]

Further reading[link]

• "The Meaning of Bill Gates: As his reign at Microsoft comes to an end, so does the era he dominated", The Economist, June 28, 2008.
• Rivlin, Gary (1999). The plot to get Bill Gates: an irreverent investigation of the world's richest man...and the people who hate him. New York: Times Business. ISBN 0-8129-3006-1. 
• "83 Reasons Why Bill Gates's Reign Is Over". Wired (Wired) 6 (12). December 1998. http://www.wired.com/wired/archive/6.12/microsoft.html. 
• Bank, David (2001). Breaking Windows: how Bill Gates fumbled the future of Microsoft. New York: Free Press. ISBN 0-7432-0315-1. 

External links[link]

Find more about Bill Gates on Wikipedia's sister projects:
	Definitions and translations from Wiktionary
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	Learning resources from Wikiversity
	News stories from Wikinews
	Quotations from Wikiquote
	Source texts from Wikisource
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• Official website
• Bill & Melinda Gates Foundation
• Profile at Microsoft
• Profile at Forbes
• Appearances on C-SPAN
• Bill Gates on Charlie Rose
• Bill Gates at TED Conferences
• Bill Gates at the Internet Movie Database
• Bill Gates collected news and commentary at The Guardian
• Bill Gates collected news and commentary at The New York Times
• Bill Gates collected news and commentary at The Wall Street Journal
• Bill Gates collected news and commentary at Bloomberg News
• Works by or about Bill Gates in libraries (WorldCat catalog)
• Works by Bill Gates on Open Library at the Internet Archive
• Bill Gates at the Notable Names Database
• How I Work: Bill Gates, Fortune, March 30, 2006
• The Forbes 400

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Michael Munger (L-NC)
Born	(1958-09-23) September 23, 1958 (age 53) Gotha, Florida
Residence	Raleigh, North Carolina
Citizenship	American
Nationality	United States
Fields	Political science Economics
Institutions	Duke University Dartmouth College University of Texas at Austin UNC-Chapel Hill
Alma mater	Davidson College Washington University in St. Louis

Michael Curtis Munger (born September 23, 1958)^[1] is an economist and a former chair of the political science department at Duke University, where he continues to teach political science, public policy, and economics. He is a prolific writer, and his book Analyzing Policy: Choices, Conflicts, and Practices is now a standard work in the field of policy analysis. In 2008 he was the Libertarian candidate for Governor of North Carolina.

Munger earned a B.A. in economics at Davidson College (1980), an M.A. in economics at Washington University in St. Louis (1982), and a Ph.D. in economics at Washington University (1984). He is a past president of the Public Choice Society. He has been published in the American Political Science Review, the American Journal of Political Science, and the Journal of Politics and has had books published with the Cambridge University Press and the University of Michigan Press. Since March 2012 he has been a member of the Board of Visitors of Ralston College.^[2] He also serves as an Adjunct Scholar at the Cato Institute^[3] and as a member of the Academic Council of the Jack Miller Center.^[4]

Career[link]

Munger has worked as a staff economist for the Federal Trade Commission and taught at Dartmouth College, the University of Texas at Austin, and UNC-Chapel Hill before becoming a political science professor at Duke University in 1997. In 2000, he became the head of Duke's political science department.^[5] His research centers around elections and campaign finance.^[6]

At Duke, Munger says he works "across the aisles- there aren't a lot of other Libertarians there."^[7]

Three scholars, Melvin Hinich, Douglass North, and Barry Weingast, were reported to be heavily influential to Munger.^[8]

Gubernatorial campaign[link]

Munger, feeling that North Carolina voters needed an alternative to the two party duopoly, ran as a Libertarian candidate for Governor of North Carolina in 2008. Early in the year, Munger said that Democratic gubernatorial challenger Bev Perdue was a "Stepford Wife" and the Republican nominees were "circus clowns."^[6] Prior to May 2008, the North Carolina Libertarian Party and Munger gathered 100,000 signatures of voters in order to qualify to appear on North Carolina's ballot. They, along with the Green Party, sued the state unsuccessfully over the ballot access rules. Munger appeared as an expert witness in other cases on behalf of the Green Party and the ACLU.^[6]

Munger appeared as one of two keynote speakers at the national Libertarian convention in Denver in May 2008.^[6] He later made history as the first third-party candidate to participate in a live, televised gubernatorial debate in North Carolina.^[6]

The progressive Independent Weekly said of Munger: "Were there no substantive differences between the major-party candidates, we'd be recommending a protest vote for Libertarian Party candidate Michael C. Munger, based on the elements of his platform that make him the self-proclaimed 'liberal in the race.'"^[7]

On election day Munger received 121,585 votes for 2.85% of the total vote.

Following the election, Nick Gillespie of Reason magazine wrote: "I humbly submit that Duke University political science professor Michael Munger, who ran a strong bid as an Libertarian Party candidate for governor in North Carolina, set his eyes toward an even bigger and remote target in 2012, that stationary Death Star known as the White House."^[9]

Political positions[link]

Munger has made education a centerpiece of his gubernatorial campaign, saying that allowing more charter schools is the first thing he would do: "Rich people have choices now. I want everyone to have a choice."^[10] He would give $1,500 education vouchers to low-income students in the poorest 40 counties of North Carolina; since most would stay in public school, this would have the effect of increasing aid to poor schools.^[7]

Munger has taken more socially liberal positions on many issues than the Democratic candidate for governor, Bev Perdue. "One reason I haven't been allowed in all the debates is that I'm taking votes from the Democrats. Sixty percent of my supporters are voting for Obama. I'll talk about gay marriage, and Perdue isn't, or doesn't want to."^[5] While Democratic candidate Perdue has taken a hard line on illegal immigration similar to that of Republican Pat McCrory, Munger has a position more aligned with Barack Obama.^[11]

Munger is against the death penalty and believes children of illegal immigrants should be allowed into University of North Carolina System schools and community colleges.^[7] He believes that the government should do what it can to prevent illegal immigrants from entering the country, but once they are here, they should be treated fairly and given access to education or an "apartheid" will result "with fertile pickings for gang recruitment and exploitation by unscrupulous employers."^[7] He believes that more rural roads should be built rather than "urban highways."^[7]

Munger wants to decrease the size of government and lower taxes.^[7] He opposes the North Carolina Education Lottery and would make income taxes more progressive while cutting regressive taxes.^[7]

See also[link]

• North Carolina gubernatorial election, 2008
• List of economists

References[link]