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Gates Helped Out PlanetOut

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Microsoft mogul Bill Gates loves his gay print media. The nerdy, do-gooding gajillionaire – pictured, looking sexier than ever – lent a hand – and a buck – to raise PlanetOut’s life saving $26.2 million. help save gay media titan PlanetOut, Inc. Seattle PI‘s on the case:

Bill Gates, operating through his Cascade Investment arm, is among the investors participating in the $26.2 million funding of the gay, lesbian, bisexual and transgender online community PlanetOut.

PlanetOut, which trades on the Nasdaq under the ticker LGBT and also operates the Web site Gay.com, went public at $9 per share in October 2004.

But since that time, the stock has been in free fall. It closed today at $1.59, up 15 percent.

No word on whether Bill Gates will now star in swimsuit spread. We’re crossing our fingers and saying our prayers that we get to see that pasty, pasty love machine all spread eagle and stuff! We loves us some scrawny nerd, especially when they’re worth more than we can count.