Business

Bill Gates regains top spot

Friday, May 17, 2013 | 10:24 AM    

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KINGSTON, Jamaica - Microsoft founder Bill Gates is the world’s richest man again, regaining the distinction he lost in 2007.

Gates’ fortune is valued at US$72.7 billion by Bloomberg’s Billionaire Index and leads Mexican Carlos Slim by more than half a billion dollars.

Gates, 57, has seen his fortune climb by more than US$10 billion since the start of the year while Slim’s wealth has dropped by US$2 billion following the passing of a Mexican Bill that ended his America Movil’s telecommunications dominance in the Latin American nation where it has 70 per cent of mobile phone subscribers and 80 per cent of landlines, according to Bloomberg.

The Bill will allow regulators to break up companies that have more than 50 per cent of the market or force them to share networks.

Warren Buffett, chairman and CEO of Berkshire Hathaway, is third with US$59.6 billion while Amancio Ortega (US$56 billion), majority owner of the world’s largest clothing retailer Inditex, and Ingvar Kamprad (US$55.6 billion, who controls IKEA, the world’s largest furniture retailer, complete the top five.

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