Bill Gates Hits Record Net Worth, $90 Billion

bill-gatesIt seems like the rich just keep getting richer. In this case, though, we are talking only about the world’s richest person: Bill Gates. Yes, the Microsoft co-founder continues to ranks as the world’s richest person as his net worth hit $90 billion, on Friday. While that aspect of his life may not come as too much of a surprise, you may be intrigued to learn that this jump in wealth came out of gains from public holdings in companies like Canadian National Railway Company and Ecolab Inc.

To put things into perspective a little differently, Bill Gate’s fortune is now $13.5 billion larger than that of the second richest person in the world. That honor is held by Spanish retail mogul Amancio Ortega, as listed in the Bloomberg Billionaires Index. In addition, Gates’ $90 billion net worth is equal of approximately one-half percent of the enter Gross Domestic Product for the United States (US GDP).

Now, wealth—and growth, thereof—is nothing new to Gates, or to the rest of us who use Microsoft products. Sure, most people would never doubt that his net worth would grow as we continue to use Microsoft products. However, with the recent tech boom, companies like Microsoft could have found less than favorable footing in light of growing global competition. But even in the face of such adversity, Gates’ wealth grew substantially in 2016.

According to Bloomberg, for example, his worth was approximately $75 billion at the beginning of 2016. This means that since that time (which is only 8 months, in case you haven’t been counting), his wealth has grown $15 billion. And if you aren’t the calculating type, that means his wealth grew by 20 percent!

Of course, it might be that Gates is able to grow such substantial wealth because this isn’t about money for him. Gates is among the most philanthropic of billionaires across the globe as he donates massive sums of money every year, particularly through the Bill and Melinda Gates Foundation.

And Gates has also teamed up with billionaire Warren Buffet to start The Giving Pledge. This is an organization that attempts to encourage wealthier individuals to give away at least half of their net worth, whether during their life or after. He backs up this pledge by saying that he ans his wife will donate “the vast majority” of their wealth to various worthy causes during their lifetime(s) and after they pass.

Leave a Reply

Your email address will not be published.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

This site uses Akismet to reduce spam. Learn how your comment data is processed.