Pentagon helps Gates move beyond Bezos to the world’s richest man

Microsoft Corp. Co-founder Bill Gates officially replaced Amazon.com Inc. on Friday. Founder Jeff Bezos has become the world’s richest man, returning to the top of the list for the first time in more than two years. On October 25th the Pentagon’s surprise announcement that it would award a $10bn cloud computing contract to Microsoft instead of Amazon may have helped Mr Gates in part.

Since then, Microsoft’s share price has risen 4 percent, giving Gates a $110 billion fortune. Amazon’s shares fell about 2 percent, and Bezos’ net worth fell to $108.7 billion.

Pentagon helps Gates move beyond Bezos to the world's richest man

Last month, Mr. Gates, 64, overtook Mr. Bezos, 55, after Amazon reported its first profit drop in two years, but shares in the world’s largest online retailer recovered some of their losses.

Microsoft’s shareprice has risen 48 per cent so far this year, giving Mr Gates a significant increase in its 1 per cent stake. The rest of his wealth comes from stock sales and investments in Cascade, his family’s wealth manager, over the years.

If Bezos hadn’t divorced his ex-wife, Mackenzie Bezos, he would have been richer. On the other hand, Gates may never lose his position as the richest man had it not been for philanthropy. Since 1994, he has donated more than $35 billion to the Bill and Melinda Gates Foundation.

Gates recently shared his thoughts on the wealth tax proposed by the Democratic presidential candidate, saying he has paid more than $10 billion in taxes.

“It doesn’t matter if I have to pay $20 billion in taxes. But , he said, “when you say I should pay $100 billion in taxes, I’m going to start calculating how much more i have left.” ”

At today’s, Gates has only about $10 billion left in his fortune after paying $100 billion in taxes.

Add a Comment

Your email address will not be published. Required fields are marked *