Bill Gates, the billionaire turned philanthropist and co-founder of Microsoft Corp, still ranks in the top ten world’s richest people, despite saying last year that he will eventually drop down and eventually off of the prestigious list altogether — so he may not mind losing $250,000 here and there.
In fact, it seems like he doesn’t mind losing that chunk of change.
What Happened: Gates recently put a New York City apartment on the market for $4.75 million, down from the $5 million in cash the billionaire paid when he bought it for his daughter, Jennifer Gates.
The 1212 Fifth Ave. apartment, which overlooks the world-famous Central Park, has been on the market for 106 days, according to its listing at StreetEasy.
It was reported that Gates purchased the home for his daughter following her graduation from Stanford University — though Jennifer and her husband, professional equestrian Nayel Nassar, now live in a $51 million Tribeca triplex penthouse with its own plunge pool.
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The Seattle-based trust connected to Gates which purchased the Fifth Ave apartment for $5 million is the same trust that bought the Tribeca penthouse for $49.5 million in November 2021.
While it seems Gates doesn’t mind shelling out millions on real estate, you can earn money from it right now.
New companies have innovated ways for individual investors to enter the real estate market for as little as $100 (or more, depending on your appetite). Here’s how to buy shares of rental properties to earn passive income and build long-term wealth.
The new penthouse Gates’ daughter lives in has six bedrooms, six baths, two powder rooms, 20-foot-high ceilings, multiple terraces and two parking spaces — if you live in New York City, you know how valuable parking spots are.
Read next: Bezos-Backed Startup Lets You Become A Landlord With $100
