charles cassius gates jr. (may 27, 1921 – august 28, 2005) was a businessman and philanthropist. his father, charles gates sr., bought colorado tire & leather for $3,500 in 1911. the company was renamed the gates rubber company in 1919. it became world's largest non-tire rubber manufacturer. charles gates jr. took over in 1961, upon the death of his father. the gates corporation continued to grow, diversify, and acquire other companies, including learjet. by 1996, the privately held gates corporation employed over 14,000 people. it was sold to london-based tomkins plc that year for us$1.1 billion.