Name↓ Bill Gates
Standing at No. 2
Net worth (USD) ↓$56.0 billion increase
Citizenship↓ United States
Residence↓ United States
Sources of wealth↓ Microsoft
Gates now serves as Chairman of the company he once created and owns eight percent of the common shares of Microsoft. Gates is known for being the founder of Microsoft, an entrepreneur in the computer field, and being a philanthropist through the Bill and Melinda Gates Foundation. Bill Gates held the title of World’s Richest Person for fourteen years before shifting his efforts to giving away money for medical research and helping those in need.
Bill Gates Net Worth 2011
According to Forbes, Bill Gates has a current net worth of fifty six billion dollars ($56 Billion USD) making the United States citizen the current second richest person in the World and richest American citizen. Bill Gates, at an age of fifty five, has started to give away a large amount of money to philanthropic efforts.
Bill Gates Harvard Dropout
After scoring a 1590 out of a possible 1600 on the SAT’, Gates was enrolled at Harvard University. Gates attended the prestigious school in hopes for a degree in law but initially spent more time in computer labs his first semester at the school. Gates claims he could sleep for a few hours and cram for a test in the morning and get a great grade on any project with little work. Gates remains one of the few examples of a college dropout who became successful in life.
Sources of Wealth and Income Now
The major sources of wealth for Gates are through Microsoft. The ownership stake in Microsoft currently pays out dividends on the ownership stake. Gates also serves on the board of directors for both Microsoft and Berkshire Hathaway. How rich Bill Gates is at any time is determined by the share price of Microsoft. Investment fund Cascade, seventy percent owned by Gates, currently holds stakes in Coca Cola Femsa and Republic Services.
How Bill Gates Changed the World
Bill Gates, along with his wife since 1994 Melinda, has chaired the Bill and Melinda Gates foundation. The charitable organization has been the World’s largest private foundation for several years. The entrepreneurship demonstrated by Gates behind this non-profit helped him share the honor of Time Person of the Year with his wife and musician Bono. Warren Buffet, the third richest person in the world, has pledged to donate a percentage of his Berkshire Hathaway shares each year to the charity as long as certain conditions were met. The charity has helped change the world in the past, present and future through several donations and investments including:
- Children’s Vaccine Program
- HIV Research
- Financial Access Initiative
- Alliance for a Green Revolution in Africa
- Kashmir Earthquake
- United States Libraries
- Computer History Museum
- Discovery Initiative