Microsoft founder has dropped to the third position both in Forbes Real Time and Bloomberg Billionaires Index.
A true competition for the second place in the billionaire ranking unfolded. According to the American Forbes ranking the net worth of the head of LVMH group Bernard Arnault grew from $76 Bn to a whopping $104.2 Bn in just four months. Since the start of the year Louis Vuitton Moët Hennessy shares traded at Euronext stock exchange have doubled in value.
On July 17 Arnault surpassed Bill Gated by $500 mil while on the following day the French billionaire’s net worth diminished in value and Gates went back up. The latter’s net worth was estimated at $103.16 Bn while Arnault’s was estimated to own $102.52 Bn. On July 19 the website reported another shift in rankings: the Arnault family climbed up a rank netting $104.2 Bn. That was a tight race considering that the Microsoft founder has stayed at the second place for the past of two years.
According to Bloomberg, Gates has been losing his position due to his extensive charity work. He has donated over $35 Bn to Bill And Melinda Gates Foundation. The Arnault family is also involved in charity in a much smaller scale. They head the Fondation Louis Vuitton cultural centre specializing in support and development of modern art. After the fire in Notre Dame De Paris the family vowed to donate $200 mil for its restoration.
At the top of the ranking is the head of Amazon, Jeff Bezos. His family’s net worth is estimated to be $163.4 Bn. Despite having given 4% of the company (around $38 Bn) to his ex-wife MacKenzie Bezos after the divorce, his net worth remains unchanged.