He was the world’s richest man in 2007. But nothing lasts forever so he soon relinquished the title to someone else. But dear old Bill did not lose any sleep over the situation. He just turned his attention back to what he does best…philanthropy. And after giving away tens of billions of dollars guess what? He is back in the number one spot again! It is estimated that the man, Bill Gates has, since 2007, given away a whopping 48% of his net worth to charity! Maybe that’s why God can’t stop giving him more. You rock man! I wish you so much more money.
- Gates snatched the title from Mexican mobile phone tycoon Carlos Slim
- Last topped Bloomberg Billionaire’s Index in 2007 but was usurped by Slim
- But Mexican Congress passed recent bill to break Slim’s telecoms monopoly
- New bill has slashed his wealth by 14%, erasing $3billion from his accounts
- Warren Buffet third, then Amancio Ortega Gaona – Europe’s richest person
By MATT BLAKE
He may only work part time, but Bill Gates has become the world’s richest man for a second time thanks to a nest egg of shrewd financial investments – and a little help from the Mexican government.
The software mogul snatched the title from Mexican mobile phone tycoon Carlos Slim yesterday after Bloomberg revealed his personal fortune had blossomed to an eye-watering $72.7billion.
Gates, who has spent his life at the vanguard of computer innovation since he founded Microsoft in 1976, last wore the crown in 2007 but was usurped by Slim three years later.
But a bill passed by the Mexican congress aimed at breaking up Slim’s near monopoly on the country’s telecom industry, through flagship firm American Movil SAB, saw his net wealth plummet by 14 per cent, erasing nearly $3billion from his accounts.
Meanwhile, Gates watched his riches soar by 15 per cent after his investment portfolio, which includes a large stake in Microsoft, enjoyed a bumper few years.
Almost there: The Bloomberg Billionaire’s Index ranked investor Warren Buffet, left, in third place and Europe’s richest person and owner of fashion chain Zara Amancio Ortega Gaona, right, in fourth
Most of Gates’s fortune, however, lies in Cascade Investment LLC – a holding company through which he owns portions of more than a dozen publicly-traded companies and other operations, including Four Seasons hotels.
The Bloomberg Billionaire’s Index ranked famous investor Warren Buffet in third place with a personal net wealth of $59.7 billion.
He came out $3.7 billion richer than Amancio Ortega Gaona, Europe’s wealthiest person, whose Spanish clothing company Inditex group owns high-street chain Zara.
Since retiring as chairman of Microsoft in 2008, Gates has thrown himself into his philanthropy after setting up a charity the Bill and Melinda Gates Foundation, which gives aid to some of the most underprivileged countries in the world.
The Microsoft founder has dedicated much of his time in the past five years to charitable causes through the foundation, spearheading African aid projects and encouraging others to spread their wealth.
Last year, the multi-billionaire donated $750million to the Global Fund to Fight AIDS, Tuberculosis, and Malaria on the fund’s tenth anniversary. He had already contributed $650million to the charity.
‘These are tough economic times, but that is no excuse for cutting aid to the world’s poorest,’ Mr Gates said at the time, adding: ‘The United States has a huge budget deficit so taxes are going to have to go up.
‘I certainly agree that they should go up more on the rich than everyone else. That’s just justice.’
Culled from dailymail.co.uk