Bill Gates, the chairman and co-founder of Microsoft Corp. reclaims the title of the world's richest person.
The 57 year old is once again the world's richest man after he regained the title from from Mexican investor Carlos Slim, as announced by Bloomberg Billionaires Index. Microsoft stocks just hit a five year high, helping Gates, who still has significant stocks in the company, regain the title for the first time since 2007. His wealth is now valued at $72.7 billion, while Slim stands at $72.1 billion.
Slim's America Movil (AMXL) SAB, is the largest mobile service provider in the American subcontinent, has dipped by 14 percent this year after the Mexican government passed a bill that could suppress the billionaire's market dominance.
"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,” said Greg Lesko, managing director at New York-based Deltec Asset Management LLC, which manages $750 million and has an “underweight” position in Slim’s flagship company. “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.”