11 March 2011 | By Cause4 staff
Forbes magazine recently published 2010’s World’s Rich List results and, for the first time since 1994, an American has been demoted from top spot. Microsoft’s Bill Gates, worth $53.5 billion, has been usurped by Carlos Slim - a Mexican, with a vast telecommunications empire.
Given that Gates has become king of the philanthropists, diverting his focus away from software towards selfless giving, this comes as no surprise. It is estimated that, alongside his wife Melinda, Gates has made total donations of nearly $30 billion through their foundation. David Lincoln, Director of global valuations at wealth research firm Wealth-X, suggests, “Had Gates not given away any money, he would be worth $88 billion” and would, therefore, have topped the leader-board by a country mile.
Bill Gates’ demotion is paradoxically a triumph. Over to you, Mr Slim, in the race for relegation.