The unthinkable has happened. Bill Gates decides to relinquish the day-to-day control of the company he co-founded in the 80s. He plans to spend most of his time now spending his wealth through his Foundation.

“Just as Microsoft took off in ways I never expected, so has the work of the Foundation, and it’s growing rapidly,” Gates, 50, said in a press conference announcing the news. “With the early successes comes the challenge of scaling up and delivering these new approaches to everyone who can benefit.” Gates says he plans to remain Microsoft’s chairman indefinitely.

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