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Home Wealth & Lifestyle Billionaire Watch

Bill Gates holds far more cash than Nigeria’s foreign reserve

Olumide AdesinabyOlumide Adesina
2 years ago
in Billionaire Watch, Spotlight
Bill Gates, GDP, Unlike Nigerians, Bill Gates addresses Dangote differently 
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Founder of the world’s most valuable software company, Bill Gates, currently has more cash in the bank than Africa’s biggest economy, Nigeria.

Data retrieved from Bloomberg showed that the 65-year-old billionaire holds $55.7 billion in the bank, while data retrieved from Nigeria’s apex bank points that the leading sub-Sahara economy holds $36.5 billion.

READ: Software bug brings down Microsoft Teams, Azure

  • Bill Gates co-founded Microsoft, the world’s biggest software maker, and owns about 1% of the Redmond, Washington-based company.
  • The majority of the philanthropist’s revenue is derived from Cascade Investment, a holding company that was created with gains from Microsoft stock sales and dividends.

READ: Huawei to rival Android with new operating system amidst US ban

What you should know

Based on an analysis of Bloomberg data, Bill Gates has earned more than $50 billion in stock and dividends, including a $3.3 billion payout from Microsoft in 2004, which he donated to his philanthropic foundation.

He is currently the biggest shareholder of Canada’s biggest railroad operator, the Canadian National Railway.

  • Bill Gates made his wealth when he simplified the computer operating system by creating Microsoft Windows, the leading operating system in personal computers globally today.
  • For many years, Gates had been the world’s richest man. He now has a fortune of $134 billion with a 2021 gain of about $2.1 billion.
  • Bill Gates’s current wealth valuation can presently buy 72.3 million troy ounces or 2.39 billion barrels of crude oil.

READ: Oracle wins bid to acquire TikTok’s US operations after Microsoft offer was rejected

READ: Huawei staff members to get $286 million cash reward, here’s why 

Bottomline

For Bill Gates, although the metrics above reveal he holds a significant amount of his wealth in cash, it’s important to note he has exposure in real estate, stocks, and collectibles, thus helping his wealth to grow.

  • But beyond that, many market experts opine that the rationale behind keeping so many funds in banks amid rising inflation is to fund his philanthropic missions as he donates much of his wealth to causes that help better the world.

READ: Google set to extend footprints with acquisition of smartwatch company, Fitbit  

Related

Tags: Bill GatesCanadian National RailwayCascade InvestmentMicrosoft

Comments 3

  1. Michelangelo says:
    January 27, 2021 at 11:24 am

    And also that saves him from taxation

    Reply
    • Graeme B says:
      January 31, 2021 at 12:14 pm

      Does he not make money from vaccines? He himself has stated that he has made millions his ventures in the vaccination business, why isnt this included in the article?

      Reply
  2. Michael Mertes says:
    February 3, 2021 at 10:18 pm

    “Donates much of his wealth”? BS

    Reply

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