Bill Gates reclaims world’s richest title
Source: The Age Business Day
According to a recent article by The Age, Bill Gates has reclaimed the title of world’s richest person, for the first time since 2007. His fortune was valued at $US72.7 billion ($74 billion) overnight, according to the Bloomberg Billionaires Index.
The co-founder of Microsoft has seen his fortune climb about $US10 billion this year. Microsoft’s shares have hit a five-year high of $US34.08 overnight, and have advanced 28 per cent year-to-date said The Age.
Microsoft said overnight that US retailers had sold 130,000 Xbox 360 game consoles in April, helping it retain the top-selling spot for the 28th straight month.
According to the article, Mr Gates’ fortune has also benefited from a rally in stock holdings that include the Canadian National Railway Co and waste-collection company Republic Services.
Most of Mr Gates’ fortune is held through Cascade Investment, a holding entity through which he owns stakes in more than a dozen publicly traded companies and several closely held operations, including Four Seasons hotels and Corbis Corp.
Less than a quarter of Mr Gates’ fortune is held in Microsoft. He’s donated $US28 billion to the Bill & Melinda Gates Foundation said The Age.
For clients of UGC this news would come as no surprise given the cash gushing qualities of Microsoft. It has long been a recommended investment of UGC.
UGC noted in an article on 26 December 2012, that many investors have grossly overlooked Microsoft, in recent times.
If you would like to learn how you can benefit from investing in world dominating businesse like Microsoft, contact a UGC financial strategist today by calling 03 8657 7640 or email [email protected].
The information contained in this report is General in nature and has been prepared without taking into account your objectives, financial situation and needs.