Microsoft Corporation (NASDAQ:MSFT) chairman, co-founder, and former CEO Bill Gates is now the richest man in the world again, according to Bloomberg. Gates was previously dethroned by Mexican telecommunications mogul Carlos Slim back in 2007. Gates still owns 436 million shares in Microsoft and the stock price of the company is now at a five-year high, up 27% this year alone. This increased Gates’ wealth on paper. Gates is now worth around $72.1 billion, which is over half a bill dollars ahead of Carlos Slim.
What happened to Slim’s wealth? The Mexican congress broke down Slim’s telecommunications monopoly in the country. Slim’s wealth has dipped after efforts in the Mexican congress designed to break down the near-monopoly held by his company, América Móvil. Based in Mexico City, Mexico, América Móvil is the fourth largest mobile network operator based on equity subscribers and is one of the largest corporations in the world. América Móvil provides services to 246 million mobile subscribers in 18 countries.
Gates already gave away a large chunk of his wealth to charity through the Bill & Melinda Gates Foundation. He reportedly gave away $28 billion of his wealth and $8 billion has gone towards global health initiatives. His goal is to give away over 95% of his family’s wealth to charitable causes.