Bill Gates Retakes World Richest Title From Slim Helu

Bill Gates is once again the world's richest person. The 57-year-old co-founder of Microsoft recaptured the title from Mexican investor Carlos Slim on Thursday, according to the Bloomberg Billionaires Index, as the software maker hit a five-year high. It is the first time Gates has held the mantle since 2007. His fortune is valued at $72.7 billion, up 16% year-to-date.

Slim's America Movil, the largest mobile-phone operator in the Americas, has dropped 14% this year after Mexico's Congress passed a bill that could quash the billionaire's market dominance. That's helped erase more than $3 billion from the 73-year-old tycoon's net worth.
 

This is the first time since 2007 that Mr Gates has been declared the richest with his expanded personal fortune, dislodging Mexican mobile phone magnate Carlos Slim

Mr Gates, who had spent three decades of his life at the forefront of computer innovation as chairman of Microsoft, reclaimed the crown from Mr Slim who took the top spot three years ago. Credit goes to Mr Gates's well of wise business investments and some help from the Mexican government, too.

Mr Slim's net wealth took a dive by 14 pervcent when the Mexican congress passed a bill geared towards breaking Mr Slim's monopoly of the country's telecommunications industry. His flagsship company, Merican Movil SAB, took the brunt that led to an almost $3 billion decline in Mr Slim's accounts.  

Mr Gates, meanwhile, watched his wealth blossom by 15 percent as his portfolio of investments, including a significant stake in Microsoft, grew remarkably for a period.

But Mr Gates' biggest fortune lies in his interest with Cascade Investment LLC, a parent corporation that allows him to own shares of more than a dozen of publicly listed companies and other enterprises, including the luxurious Four Seasons Hotel.

Another American investor and philanthropist, Warren Buffet, according to the Bloomberg Billionaire's Index, is third place with a personal net worth of $59.7 billion.

Mr Buffet was $3.7 billion higher than Europe's richest person, Spanish Amancio Ortega Gaona, whose clothing firm Inditex owns the famous clothing chain Zara.

Since his retirement as chairman of Microsoft in 2008, Mr Gates has spent much of his time doing philanthropic works with his Bill and Melinda Gates Foundation, extending aid to a number of indigent beneficiaries around the world.

In 2012, a total of $750 million was donated by the multi-billionaire to the Global Fund on its tenth anniversary to fight AIDS, tuberculosis and malaria.

'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.

 

Mr. Bill Gates and Slim Carlos Helu

"When they're talking about reform in a country that's generally poor, and the guy shows up No. 1 on the list — not a good thing," said Greg Lesko, managing director at New York-based Deltec Asset Management, which oversees $750 million and has an "underweight" position in Slim's flagship company. "He's had a pretty good monopoly situation in Mexico, and the Mexican cellphone user has been paying more than he should. We applaud it for the country." 

Meanwhile for those who don't know, (If there is possibly anyone who don't know), William Henry ''Bill'' Gates III, was born October 28, 1955. He is an American business magnate, investor, programmer, inventor and philanthropist. Gates is the former chief executive and current chairman of Microsoft, the world’s largest personal-computer software company, which he co-founded with Paul Allen.

He is consistently ranked in the Forbes list of the world's wealthiest people and was the wealthiest overall from 1995 to 2009—excluding 2008, when he was ranked third; in 2011 he was the wealthiest American and the world's second wealthiest person. According to the Bloomberg Billionaires List, Gates is the world's richest person in 2013, a position that he last held on the list in 2007. 

Bill Gates learned to shape his future through indepth thinking and finding solutions to social problems

During his career at Microsoft, Gates held the positions of CEO and chief software architect, and remains the largest individual shareholder, with 6.4 percent of the common stock. He has also authored and co-authored several books.

Gates is one of the best-known entrepreneurs of the personal computer revolution. Gates has been criticized for his business tactics, which have been considered anti-competitive, an opinion which has in some cases been upheld by the courts. In the later stages of his career, Gates has pursued a number of philanthropic endeavors, donating large amounts of money to various charitable organizations and scientific research programs through the Bill & Melinda Gates Foundation, established in 2000.

Bill Gates and Paul Allen, cofounder of Microsoft in the early days

Gates stepped down as chief executive officer of Microsoft in January 2000. He remained as chairman and created the position of chief software architect. In June 2006, Gates announced that he would be transitioning from full-time work at Microsoft to part-time work, and full-time work at the Bill & Melinda Gates Foundation. He gradually transferred his duties to Ray Ozzie, chief software architect, and Craig Mundie, chief research and strategy officer. Gates's last full-time day at Microsoft was June 27, 2008. He remains at Microsoft as non-executive chairman.