Microsoftfounder overtook the Mexican Carlos Slim and returned to be the richest man on the planet, a place that he had lost in 2007.
Bill Gates returned to first place in the “Bloomberg Billionaires Index“, reoccupying the place lost in 2007 to Carlos Slim. The founder of the technologygiant has a fortuneestimated at 72 700 million dollars, an amount that exceeds the bank account of Slim, who last year lost three billion dollars in the telecommunications business.
Gates’ fortune reached a new high this year, after the sharesof Microsofthave already appreciated 28% since the beginning of January. However, it wasn’t the increase in value of the technological giant that allowed Bill Gates to be considered once again the richest man on the planet. Microsoft represents less than a quarter of Bill Gates fortune. The entrepreneur has a diversified investment portfolio, which includes the hotel chain Four Seasons, Corbis or the Canadian National Railway. Most of his fortune is invested in the Cascade Investment, a holding company that manages listed companies businesses and operations.
However, Gatesdoes not reoccupy the top position of the rankingbecause of extraordinary yield in his portfolio, but because Carlos Slim lost money last year, largely because of a new law passed by the Mexican congress which questions the monopolistic position of America Movil in the telecommunications market in Mexico. The new legislation took the fortuneof Carlos Slim to depreciate 14%. The Mexican entrepreneur bank account is now valued at 72,100 million dollars, slightly less than that of Bill Gates.
This Mexican legislation, will allow regulators to intervene in the market in case of monopoly or in case of a company controlling more than 50% of the market segment in which it operates. Currently, America Movil has 70% market share of the mobile market and 80% of fixed phone market and may be affected by the new legislation if the document comes into force.
Carlos Slim is followed by Warren Buffett owner ofBerkshire Hathaway, with a fortuneestimated of 59 700 million. Amancio Ortega ranks fourth with 56 billion dollars, an amount that makes him the richest man in Europe. Ingvar Kampradcloses out the top five with 55,600 million dollars.