Bill Gates has regained his title as the world’s richest man by gaining top position in the list of Richest in the World in Bloomberg Billionaire Index. To be considered in the list of the Richest, the net worth of the person should be over $55 billion.
The Microsoft Corporation (NASDAQ:MSFT) co-founder Bill Gates has come back to the number 1 position after the shares of the Redmond, Washington based company increased 28 percent this year, which was very near to the five year high made by the company.
Bill Gates has done numerous charity works and has given away $28 billion of his wealth to the Bill & Melinda Gates Foundation, which was founded 14 years ago. The foundation is being operated by the Gates couple along with Warren Buffet, and it is one of the most cash rich philanthropic organizations.
Baupost's investment process involves "never-ending" gleaning of facts to help support investment ideas Seth Klarman writes in his end-of-year letter to investors. In the letter, a copy of which ValueWalk has been able to review, the value investor describes the Baupost Group's process to identify ideas and answer the most critical questions about its potential Read More
From 2007 onwards, Bill Gates could not achieve the number one position on the Bloomberg Billionaire Index. The wealth of Bill Gates is valued at $72.7 billion, an increase of 15 percent year to date. The shares, which he holds in the company, is less than 25 percent of his total wealth.
Others on the list beside Bill Gates
Bill Gates has replaced Carlos Slim to regain the top position on the list. Carlos Slim, 73, came in number 2 spot due to drop in his share value in America Movil SAB de CV (NYSE:AMX) (NASDAQ:AMOV) 14 percent this year. America Movil is the most dominant player in the cell phone network carriers in the United States. The decline in the share value of America Movil caused the wealth of Slim to decline by around $3 billion.
There has been law approved by Mexico’s Congress, which is focused on deregulating the telecom industry. If this happens, Carlos Slim will have to either split up America Movil or lower the charges in Mexico. America Movil SAB de CV (NYSE:AMX) (NASDAQ:AMOV) is the most powerful player in Mexico. There are possibilities that the shares of America Movil may further decline.
The third position is held by Warren Buffett with the fortune of $59.7 billion as per the rankings of Bloomberg. Warren Buffett is the chairman and CEO of Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B).
Ortega, the owner of Spanish fashion company Inditex Group, is next on the list. The widely known brand of Inditex is Zara apparel store chain. Recently Zara entered into an agreement with other European retailers in order to enhance the safety measures along with better working environment in Bangladesh. The decision was taken after the incident of garment factory disaster in Bangladesh.