Friday, 17 May 2013

Bill Gates Retakes World’s Richest Title From Carlos Slim

Bill Gates became the world's richest person
today, the first time he has held the title since
2007. His fortune was valued at $72.7 billion at 4
p.m. in New York, according to the Bloomberg
Billionaires Index.
Gates, 57, was more than $550 million ahead of
Carlos Slim, who has a $72.1 billion net worth.
The co-founder of Redmond, Washington-based
Microsoft Corp. (MSFT) has seen his fortune
climb about $10 billion this year. The software
maker's shares hit a five-year high today, and
have advanced 28 percent year-to-date.
Slim's fortune has dropped more than $2 billion
this year as Mexico's Congress passed a bill to
quash the market dominance of the 73-year-old
billionaire's America Movil SAB.
"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 LLC, 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."
Earlier this month, a group of kazoo-playing
protesters confronted Slim when he appeared at
an event at the New York Public Library,
denouncing him for overcharging consumers to
enrich himself. He denies the accusation.

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