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URL:
http://www.theworldjournal.com/2001/richestmen_print.htm Print Date: |
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URL:
http://www.theworldjournal.com/2001/richestmen_print.htm Print Date: |
| Bill Gates Lost $22,5 billion By Artashes Toumanov, TheWorldJournal.com The founder of Microsoft Corporation Bill Gates is no longer the richest person of a planet, which belonged to him within last three years. During the hi-tech crisis, Bill Gates lost nearly $22,5 billion. According to the list of the richest people of the world published by Sunday Times newspaper, Bill Gates has lost the first place and now has 54 billion dollars. The owner of the largest in USA network of supermarkets Wal-Mart Robson Walton is the leader of the list with $65,4 billion. The moving from top is caused by the hi-tech crisis, when many hi-tech companies have strongly fallen in price. According to Sunday Times, Bill Gates lost 22,5 billion dollars. Gates' capital is still estimated basically by the amount of Microsoft shares he owns (that's about 40 %). Robson Walton's capital has been building for the last 40 years. The construction of Wal-Mart empire of supermarkets began in 1962 when the father of the present owner of the company Sam Walton opened his first store in Arkansas. Wal-Mart is engaged in traditional business, selling food and other consumer goods. Today Wal-Mart owns more than 4000 stores worldwide. Although Microsoft shares have been gradually restoring in their price, Bill Gates will still be poorer. The return on the first place could only be cause by another boom in the hi-tech market, which is obviously won't happen in the closest future. In spite of on anything, Microsoft founder remains to be one of the most generous philanthropists. Only for the last year Bill Gates spent more than 1,5 billion dollars on charity. © June 3, 2001 |
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e-mail: info@theworldjournal.com |