After giving away $28 billion, Bill Gates is
no longer the third-richest man in the
world.
He’s the second-richest.
You read that right. Despite his
considerable, praiseworthy charity work,
the Microsoft cofounder is getting
wealthier.
In 2012, he wound up $7 billion ahead with
a net worth of $63.4 billion, according to
Bloomberg’s Billionaires Index published
today.
That’s not to say that he isn’t giving a lot of
money away. He is. The Bill and Melinda
Gates Foundation is working with a $36.2
billion endowment, most of it from Gates.
But lately he’s been earning money faster
than he can give it away.
His wealth in 2012 was helped by a 2% rise
in Microsoft’s stock price. But he’s been
slowly selling off chunks of his Microsoft
stake. Microsoft stock now accounts for
less than 20 percent of his fortune.
So if his wealth isn’t just from Microsoft,
where does Bill Gates invest? He’s got a
somewhat secretive investment company
called Cascade Investment, according to
documents filed with the SEC. From those
filings we know that Gates owns stakes in
companies like tractor maker Deere & Co;
garbage collector Republic Services; soft
drink maker Coca-Cola; and auto retailer
Auto Nation, among others.
Money Cool Oh..........