How Bill Gates makes and spends his billions

With a net worth of approximately $89 billion, Microsoft co-founder Bill Gates is one of the wealthiest men in the world. If he spent $1 million a day, it'd take him 245 years to spend his fortune. Here's how he made all that cash.

In 1975, Gates co-founded Microsoft. At 31, he became the world's youngest billionaire at the time. In 1995, he released Windows 95 and became the world's richest man. He's been at the top of the list ever since. Gates is also a leading philanthropist.

He stepped down as Microsoft CEO to focus on the Bill & Melinda Gates Foundation. It has given away $41.3 billion to charity. Gates doesn't forget to splurge on himself, though. He bought a $21 million jet in 1997. He's had tons of luxurious cars over the years. He even once got arrested for speeding in a Porsche 911. Gates has an extensive art collection. In 1988, he spent $36 million on a Winslow Homer painting.

That piece hangs in his $63 million home in Seattle. It has 24 bathrooms, 6 kitchens, a reception hall that holds 200 people, a home theater, and an artificial stream stocked with fish.

In 2010, Bill, Melinda, and Warren Buffett created the "The Giving Pledge." Those who join pledge to give half of their wealth to charity.