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Bill Gates Loses 2nd Rank In 'World's Richest' Category to Newcomer

LVMH Chairman And CEO, Bernard Arnault, Is Now Ranked Ahead Of Gates

July 18, 2019

Bill Gates is dealing with a very tough financial situation. He is no longer the second richest person in the world. According to the Bloomberg Billionaires Index, Gates was dethroned this week by LVMH Chairman and CEO, Bernard Arnault.

The Bloomberg Billionaires Index, which is updated at the end of every trading day, moved Arnault ahead of Gates on Tuesday. Gates, the Microsoft co-founder and philanthropist, who the service says is worth $107 billion, is out of the top two for the first time since the list began in 2012.

Luckily for Bill Gates, Forbes still has Bernard Arnault below Gates, as that service has Gates worth $103.4 billion and Arnault at $103.1 billion. According to Bloomberg Businessweek, Bernard Arnault’s rise came thanks to his wealth growing $39 billion in 2019. That was the largest individual gain of anyone included in the Billionaire Index.

As noted by many, if it wasn’t for Gates’ philanthropic efforts, he would most likely be on top of both the Forbes and Bloomberg’s richest list. The Bill & Melinda Gates Foundation has donated $35 billion worldwide. While Bill Gates is now the second richest person in the world, Bernard Arnault still has a ways to go before catching number one, Jeff Bezos.

Via Yahoo!