14 DAY TRIAL // Bill Gates’ massive fortune of approximately $53 billion wasn’t sufficient to keep the Microsoft co-founder at the top of Forbes’ annual ranking of billionaires worldwide. Gates is now officially the world's second-richest man, having lost the top position in favor of Mexican telecom tycoon Carlos Slim Helu. Both Gates and Helu have seen their fortunes explode over the past year, as the world started recovering from the financial crisis. According to Forbes, 164 billionaires that lost enough money to be kicked off the list made a comeback over the past year, to over ten-figure fortunes.
Gates’ net worth grew by no less than $13 billion in a single year. The Microsoft co-founder relies only 40% on the software giant he helped build, with over 60% of his fortune diversified across a range of companies. Still, Microsoft faired quite well the past year, with its shares growing in value by 50%. But the additional $13 billion for Gates in the past year didn’t even come close to Helu’s exploding net worth.
The Mexican telecom tycoon grew his fortune by an estimated $18.5 billion in a year, and, in the process, knocked Gates out of the top slot in Forbes’ annual list of billionaires. Helu now accounts for a fortune of $53.5 billion, 500 million more than the current co-chair of the Bill and Melinda Gates Foundation. The no. 3 position was nabbed by Warren Buffett, of Berkshire Hathaway, with a growth of $10 billion in the past 12 months, and a net worth of $47 billion.
The closest IT magnate to Gates is Lawrence Ellison of Oracle, with $28.0 billion, followed by the two co-founders of Google, Sergey Brin and Larry Page, who share the 36 and 37 positions with $17.5 billion each. Both Google co-founders are now wealthier than Microsoft’s Chief Executive Officer Steve Ballmer, who only accounts for $14.5 billion.