Ten Richest Men in the world (2022)
4. Bill Gates
Age: 66
Residence: Washington
Co-founder: Microsoft Corp. (MSFT)
Net Worth: $123 billion
Microsoft Ownership Stake: 1.3% ($28 billion)
Other Assets: Cascade Investment LLC ($53.4 billion public assets), $56.6 billion in cash
In 1975, while still a student at Harvard, Bill Gates joined his childhood friend Paul Allen in creating new software for the first microcomputers. After the success of this project, Gates left Harvard in his junior year and later co-founded Microsoft with Allen.
Microsoft, the largest software company in the world, also manufactures its own line of personal computers, releases books through Microsoft Press, offers email services via its Exchange server, and sells video game consoles and related accessories.
In 2008, Gates transitioned from his previous position as Microsoft’s chief software architect to that of board chair. In 2004, he became a member of Berkshire Hathaway’s board.
His resignation from both boards was effective March 13, 2020.
A large portion of Bill Gates’ wealth is held by Cascade Investment LLC. Canadian National Railway (CNR), Deere (DE), and Republic Services (RSG) are just a few of the stocks that Cascade owns. It also has private investments in real estate and energy.
The Bill & Melinda Gates Foundation, which is still co-chaired by Bill Gates and his ex-wife Melinda French Gates, was formed in 2000 when Gates’ two charitable organizations, the William H. Gates Foundation and the Gates Learning Foundation, merged.
They have invested billions through the foundation to combat polio and malaria.
In 2014, the foundation committed $50 million toward the fight against Ebola. The foundation had already spent more than $1.9 billion to fight the COVID-19 pandemic as of 2021.
Bill Gates and Warren Buffett launched the Giving Pledge in 2010 as a movement to get the wealthy to pledge to give the majority of their wealth to charitable causes. On August 2, 2021, Bill and Melinda French Gates got divorced.
Five billion dollars’ worth of stock were transferred to French Gates as a result of the divorce. With over 268,000 acres, Bill Gates is also the largest private landowner in the United States.
3. Bernard Arnault
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Age: 73
Residence: Paris, France
CEO and Chair: LVMH (LVMUY)
Net Worth: $136 billion
Christian Dior Ownership Stake: 97.5% ($110 billion total)
Other Assets: Moelis & Company equity ($20.2 billion public asset), Hermès equity (undisclosed stake), and $11.1 billion in cash
The head and CEO of LVMH, the biggest manufacturer of luxury goods in the world, is French national Bernard Arnault. Louis Vuitton, Hennessey, Marc Jacobs, and Sephora are just a few of the brands owned by LVMH.
The holding company that owns 41.3 percent of LVMH, Christian Dior SE, is where Arnault derives the majority of his wealth.
Through his family-owned holding company, Groupe Familial Arnault, he holds shares in Christian Dior SE as well as an additional 6.2 percent in LVMH.
By profession, Arnault is an engineer, but before assuming leadership of Ferret-Savinel in 1971, he first demonstrated his business savvy while working there. In 1979, he changed Ferret-Savinel into Férinel Inc., a real estate business.
For another six years, Arnault served as the chairman of Férinel. In 1984, he bought and reorganized the Financière Agache company, selling all of its holdings except for Christian Dior and Le Bon Marché.
In 1987, he received an invitation to invest in LVMH; two years later, he was named the company’s majority shareholder, board chair, and CEO.
