Bill Gates world’s richest man again, based on Bloomberg Billionaires Index 2013

By on May 17, 2013 in Business, Finance, World Comments

Bill Gates is the world’s richest man again, a title he last earned in 2007 via the Bloomberg Billionaires Index. According to a report at Bloomberg.com today, Friday, May 17, 2013, Gates‘ fortune is now valued at $72.7 billion, up 16 percent year-to-date. He is the chairman and co-founder of tech giant Microsoft.

Bill Gates

Bill Gates
Image Credit: Aaron M. Sprecher/Bloomberg

As noted by Bloomberg, Bill Gates regained the world’s richest man title yesterday from Mexican investor and philanthropist Carlos Slim, who is the Chairman and CEO of of Telmex, Samsung Mexico, Grupo Cars, and America Movil. Slim, 73, was ranked by Forbes as the richest person in the world from 2010 to 2013.

But as Bloomberg reported, Slim‘s shares value at America Movil, dubbed as the largest cellphone carrier in the Americas, has declined 14% this year after Congress of Mexico passed a bill that could repeal his dominance in the market. This resulted to a $3 billion reduction from his net worth.

“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.” Greg Lesko, managing director at Deltec Asset Management, which keeps an eye on $750 million and has an “underweight” position at America Movil, was quoted in the report.

“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.” Lesko added. America Movil is Mr. Slim‘s flagship company and its headquarters are located in Mexico City, and has 246 million mobile subscribers in 18 countries.

Meanwhile, Gates, 57, has most of his wealth at Cascade Investment, and has donated $28 billion to the Bill & Melinda Gates Foundation, after establishing it in 2000. This year, Microsoft shares have climbed up 28 percent, and closed at a five-year high this Thursday for two times this week.

On the other hand, Warren Buffett, chairman of Berkshire Hathaway Inc. ranked third in world’s richest people list in the Bloomberg Billionaires Index, with $59.7 billion net worth. Buffett, 82, is $3.7 billion richer than Spaniard Amancio Ortega, the richest person in Europe.



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