Microsoft founder Bill Gates named by Bloomberg as wealthiest tech billionaire with estimated $62.7billion net worth
By Beth Stebner
Despite giving away a staggering $28million dollars in 2012, Microsoft billionaire Bill Gates increased his wealth by $7billion this year.
And with a new net worth around $62.7billion, the 57-year-old Seattle native was named the richest tech billionaire by Bloomberg’s annual Billionaire’s Index.
But Facebook wunderkind Mark Zuckerberg slipped down on the list after losing $5.2billion, and now sits as only the tenth richest billionaire.
According to Bloomberg’s Billionaire’s Index, which was published yesterday, Mr Gates earned some of his $7billion this year from a spike in Microsoft stocks, which went up 2 percent this year.
In addition, Business Insider reports that the philanthropist, who has given a sizable endowment to the Bill and Melina Gates Foundation, has capitalized a company called Cascade Investments.
In a report filed with the Securities and Exchange Commission, it was revealed that Mr Gates owns shares in companies like Coca-Cola and tractor company John Deere & Co.
Mr Zuckerberg, however, was one of the few billionaires on the list that suffered a loss.
The 28-year-old Facebook founder lost $5.3billion after his company went public in May, due in part to a botched IPO and over-hype on the stock’s initial worth.
Last week, the California resident also donated nearly $500million in stock to a Silicon Valley charity, his largest donation to date that also breaks the largest single philanthropic donation to education in 2012.
Beneficiary Silicon Valley Community Foundation said they were ‘thrilled’ by the gift aimed at funding health and education issues. The non-profit which works with donors to allocate their gifts.
Despite Mr Gates’ wealth, which appears to be growing at an exponential rate, Mexico’s Carlos Slim still remains the world’s richest man.
According to Bloomberg, the world’s billionaires added a collective $241billion to their net worth’s.
Mr Gates was born in Seattle in 1955. In 1975, he dropped out of Harvard to found Microsoft with a childhood friend.
He received an honorary doctorate from the institution in 2007.