Move over Carlos Slim, Bill Gates has taken back the title of Richest Man in the World.
Gates’ fortune stands at a staggering $72.7 billion, according to the updated Bloomberg Billionaires Index.
Slim, 73, now worth $72.1 billion, saw his wealth drop after Mexico‘s Congress passed a bill that hit his company, America Movil, the largest mobile-phone operator in the Americas. The company has dropped 14 percent this year, helping erase more than $3 billion from the tycoon’s net worth, according to Bloomberg.
“When they’re talking about reform in a country that’s generally poor, and the guy shows up No. 1 on the list — not a good thing,” Greg Lesko, managing director at New-York-based Deltec Asset Management LLC, told Bloomberg. “He’s had a pretty good monopoly situation in Mexico, and the Mexican cellphone user has been paying more than he should. We applaud it for the country.”
Slim also maintains holdings in banking (Inbursa) and mining (Minera Frisco), as well as Philip Morris, New York Times, Saks, Caixabank and Grupo Carso of the Mexican construction industry. He was the World’s Richest Man for the last four years, according to Forbes’ billionaires list.
Gates, who last held the distinction in 2007, saw his fortune rise 16 percent after Microsoft’s shares climbed 28 percent in 2013, adding $10 billion to his wealth, the LA Times reports.
But the back and forth between the two men for World’s Richest leaves out one important fact. Gates has gifted $28 billion to his foundation.