Categories: Tech & Society

Bill Gates Retakes World’s Richest Title From Carlos Slim

Bill Gates is once again the world’s richest person. The 57-year old co-founder of software technology giant Microsoft recaptured the title from Mexican investor Carlos Slim yesterday, according to the Bloomberg Billionaires Index, as the software maker hit a five-year high.

Carlos Slim’s America Movil, the largest mobile-phone operator in the Americas, has dropped 14 percent this year after Mexico’s Congress passed a bill that could quash the billionaire’s market dominance. That’s helped erase more than $3 billion from the 73-year-old tycoon’s net worth.

“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 oversees $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.”

Via: Bloomberg

Team TechPanda

Recent Posts

Indic language adoption spurs Internet users in India to cross 900 M

The internet user base in India is set to surpass 900 million by 2025, driven…

1 day ago

Google signs one of the largest industrial Biochar CDR offtake agreements in India

Varaha, an Indian company developing carbon removal projects in Asia, has sold 100,000 carbon dioxide…

1 day ago

Google’s Willow: The quantum leap we’ve been waiting for

Ever wondered what happens when quantum computing takes a giant leap forward? Google’s latest quantum…

2 days ago

The wise thing to do is work in tandem with AI regulation by keeping the human element relevant

Does AI need to be reined in? Will putting regulations on AI curb the progress…

4 days ago

Tech Panda’s 40 under 40 tech innovators of 2024 

By definition of the Merriam-Webster dictionary, ‘technology’ means ‘the practical application of knowledge especially in…

4 days ago

Nvidia, AI, and Bitcoin Take Center Stage in 2024 Tech Trends

This is the second-last edition of this year's "Tech, What the Heck!?" newsletter. To commemorate…

1 month ago