Where Bill Is Putting His Pocket Change

The second-richest man in the U.S. doesn't like to spend money. He has even been known to drive around for half an hour looking for a parking spot rather than pay $12 for a garage space. Sure, William H. Gates III has had lapses, such as the $600,000 Porsche he bought a few years ago and the $20 million estate he's building on Seattle's Lake Washington. But, he points out, the house will double as a technology showcase and meeting place for Microsoft Corp. Other than that, his only real extravagance is a fondness for cashmere V-neck sweaters.

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