Gates is the co-founder and chairman of Microsoft, the world's biggest software company. America's richest man owns 6 percent of the Redmond, Washington-based company, a stake that makes up about a quarter of his total wealth. The rest of his fortune lies in Cascade Investment, a closely held investment vehicle. He has gifted $28 billion to his foundation.
The richest man in Mexico is no longer the richest man in the world. Carlos Slim lost $2.3 billion, or 3.1 percent of his net worth, in the past week. That leaves Slim with an estimated net worth of $72.1 billion, putting him second on the Bloomberg Billionaires Index to Microsoft founder Bill Gates, whose fortune is estimated at $72.7 billion.As Bloomberg's Peter Newcomb and Crayton Harrison explained on Bloomberg TV, one reason for Slim's falling rank is political pressure on him in Mexico. Then there's also Bill Gates' rise, fueled by a 29 percent surge in Microsoft shares so far this year.
U.S. stocks fell, ending four days of records for the Standard & Poor’s 500 Index, amid disappointing economic data and after a Federal Reserve official said the central bank may slow the pace of stimulus as early as this summer.
Forget the old boy’s club. Groups like the Brazen Hussies, Power Bitches and SLUTS -- aka Successful Ladies Under Tremendous Stress -- are where today’s hot deals are being brokered and they’re strictly girls-only.
Group of Seven nations agreed on the need to toughen international rules to prevent rich individuals and corporations avoiding taxes, with greater efforts to prevent tax evasion that deprives governments of billions of dollars.
Now that the U.S. has formally accused the Chinese military of launching computer attacks, Microsoft Chairman Bill Gates has proposed a way to mediate such international disputes. The idea is technically feasible and seemingly the responsible way to handle conflicts in an increasingly interconnected world. And it likely won't happen anytime soon.
Hedge-fund manager Paul Singer and hosiery tycoon Sara Blakely promised to donate at least half of their fortune to charity as part of the initiative started by Warren Buffett and Bill and Melinda Gates.