Microsoft Corp. co‑founder Bill Gates waited 13 years and paid roughly $133,000 in storage penalties to reclaim the Porsche 959 he bought in 1988, a car U.S. customs impounded because it failed to meet federal safety and emissions rules.
What Happened: The twin‑turbo, 200‑mph supercar was then the fastest street‑legal production vehicle in the world, one of just 292 built. According to a 2023 report by Dupoint Registry, when the silver "Komfort" coupe arrived at the Port of Seattle, Customs officials refused entry because the National Highway Traffic Safety Administration and Environmental Protection Agency had never crash‑tested or certified the model.
Destruction was an option, but officers instead placed the Porsche in a bonded warehouse and levied a $28 daily fee plus a $500 annual bond to keep the title alive. Gates quietly wrote checks for 4,745 consecutive days, a total that reached about $133,580 before lawmakers intervened.
In August 1999, Congress finally added the "Show or Display" clause to the federal code, letting collectors import rare, non‑compliant cars if they drive them fewer than 2,500 miles a year. Two years later, Customs released Gates's 959, and Washington state finally issued plates.
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Why It Matters: The drawn‑out saga turned the 959 into a celebrity of its own. Hagerty analysts now value pristine examples at well north of $1.4 million, making Gates's perseverance a lucrative bet. Gates's standoff also reshaped U.S. import policy. A report by CarBuzz credits the 959 case with inspiring the loophole that now lets American enthusiasts legally register everything from McLaren F1s to Bugatti EB110s.
The billionaire whose net worth tops $124 billion according to the Bloomberg Billionaires Index likes to stay frugal in general, but does enjoy the occasional super luxury splurge.
He paid $30.8 million in 1994 for Leonardo da Vinci's "Codex Leicester" and owns Gulfstream G650ER jets and a fleet of luxury cars, yet he still sports an unassuming watch and happily eats McDonald's. The contrast shows how the Microsoft co‑founder prizes intellectual treasure and convenience while keeping many personal tastes down‑to‑earth.
Photo courtesy: Alexandros Michailidis / Shutterstock.com
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