Thanks to a $10 billion jump, Bill Gates surpassed Carlos Slim.
As Microsoft shares hit a five year high Thursday, Bill Gates reclaimed the title of the world's richest man, according to Bloomberg News.
Bloomberg's Billionaire Index pinpoints Gates' value around a cool $72.7 billion. He surpassed Carlos Slim who previously held the title with $550 million. According to Bloomberg, "Slim’s fortune has dropped more than $2 billion this year as Mexico’s Congress passed a bill to quash the market dominance of the 73-year-old billionaire’s America Movil SAB."
Gates, Slim, and Warren Buffett, who placed third on Bloomberg's list, have been playing musical chairs with the title for the past five years.
The creator of tech giant Microsoft and founder of the Bill and Melinda Gates Foundation is notoriously shrewd when it comes to money. In a recent Reddit Ask Me Anything, he said, “I definitely think leaving kids massive amounts of money is not a favor to them," and cited Buffet as an inspiration for how to set up an inheritance.
Gates, who is 57, founded Microsoft around the mid-1970s after he decided to drop out of Harvard. He reportedly talked the decision over with his parents, who were supportive of his desire to start a company.
This isn't the first time Gates has been named the world's richest man, or the second, according to Forbes. Pegging his worth around $40 billion, the magazine named Gates the world's richest man in 2009. Prior to that, he topped Forbes' list every year from 1995 to 2007.
JANA KASPERKEVIC is a graduate of Baruch College, City University of New York, where she earned a bachelors degree in Journalism and Political Science. She covers start-ups, small businesses, and entrepreneurship for Inc. Her work has appeared in The Village Voice, InvestmentNews, Business Insider, and Houston Chronicle, among others. She lives in Brooklyn. @kasperka