Real Reason Why Bill Gates Is No Longer The Richest Man In The World
Bezos first overtook Gates as the richest man the world in October, when his net worth reached $93.8 million.
A 31-year-old Gates became the youngest billionaire in the world in 1987, shortly after Microsoft went public. In 1995, at age 39, he was the richest man in the world with a fortune of $12.9 billion, NPR reports, and held the title on and off for decades.
But there's a simple reason Gates is no longer the richest person alive, and it's not because of Amazon's tremendous growth. Gates made the choice to give much of his money away.
Gates is quoted as saying he'd rather put that money to good use...
"We have been blessed with good fortune beyond our wildest expectations, and we are profoundly grateful," Bill and Melinda wrote in their Giving Pledge letter. "But just as these gifts are great, so we feel a great responsibility to use them well."
Bezos hasn't yet made a "a major philanthropic mark," as Bloomberg puts it, but some predict that's in the cards for the billionaire. In June, Bezos put out a request for ideas on Twitter, where he said he was "thinking about a philanthropy strategy." He followed up to say there's more to come, but he hasn't revealed what that will be.
Continue to read more on CNBC.
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