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Billionaire Watch

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

The 65-year-old billionaire holds $55.7 billion in the bank while data points that Nigeria’s foreign reserve holds $36.5 billion.

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Bill Gates, GDP, Unlike Nigerians, Bill Gates addresses Dangote differently 

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  

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina or email [email protected] He is a Member of the Chartered Financial Analyst Society.

3 Comments

3 Comments

  1. Michelangelo

    January 27, 2021 at 11:24 am

    And also that saves him from taxation

    • Graeme B

      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?

  2. Michael Mertes

    February 3, 2021 at 10:18 pm

    “Donates much of his wealth”? BS

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Billionaire Watch

Elon Musk’s SpaceX is exploring the merits of buying Bitcoin

SpaceX, a company founded by Elon Musk is exploring the merits of buying Bitcoin, according to MicroStrategy CEO, Michael Saylor.

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Elon Musk needs $20 billion wealth gain to clinch world's richest man title

MicroStrategy CEO, Michael Saylor, has revealed that SpaceX, a company founded by Elon Musk, is exploring the merits of buying Bitcoin.

Saylor revealed that top representatives from SpaceX were among 7,000 companies represented at MicroStrategy’s recent Bitcoin seminar, which the leading business intelligence company organized to aid companies interested in buying Bitcoin as a treasury asset.

READ: Bitcoin bounces back after losing $13,000 in a space of 2 days

“We had people from SpaceX there. We had people [from] some of Elon Musk’s companies. We had people from Marathon there.

“The ones you would expect were there, but of course, there’s an avalanche of private companies, and there were a decent number of public companies and treasurers and CFOs that were lurking.

“Some don’t want to have their names mentioned, as you can imagine, because it’s a sensitive topic,” Saylor said.

READ: Panic in crypto market as over $140 billion got wiped off

However, a significant number of traditional finance experts are not buying into the flagship crypto bullish run, as they see little value in the digital currency on the account that they believe Bitcoin, and other leading cryptos are just part of a larger speculative bubble.

Recent reports suggest SpaceX raised another $850 million this month from a group of leading institutional investors led by Sequoia Capital.

  • Such investment now puts SpaceX’s valuation at $74 billion, a 60% jump from August, and helped boost Musk’s net worth by about $11 billion, according to the index.
  • A November 15, 2016 filing with the Federal Communications Commission revealed that the tech billionaire owned 54% of SpaceX.

READ: Tesla loses $200 billion in market value following Bitcoin investment

Micheal Saylor has always been a strong fan of the world’s most popular crypto asset and he thus shares the bias that companies can use Bitcoin to hedge against future fiat inflation and allow them to plug into a revolutionary and superior monetary network.

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Billionaire Watch

Jeff Bezos is world’s richest man, as Elon Musk loses $15 billion in a day

Jeff Bezos has once again become the world’s richest person for the second time this month.

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The race for the world’s richest person on earth has obviously become very volatile, particularly in the month of February.

Jeff Bezos, the founder of Amazon the world’s biggest online retail company, has once again become the world’s richest person for the second time this month, after surpassing Elon Musk some hours ago, according to the real-time data retrieved from the Bloomberg Billionaire index.

Bezos’s current wealth valuation of $186 billion has seen his personal wealth, which mostly comes from Amazon stocks, immune against record sell-offs as seen in Tesla stock price in the past few days.

READ: Top 5 billionaires lost $8 billion in a day

Elon Musk has fallen to 2nd position, as he is currently worth $184 billion, taking into consideration his net worth plunged by $15.2 billion on Tuesday, as Tesla shares lost about 8.55% in value.

The drop in Elon Musk’s wealth after Tesla stopped taking new orders for the lowest-priced version of its Model Y.

However, stock experts have not ruled the car company out, on the account, it gained 743% last year.

READ:  Tips that will help you win in business – Amazon Founder 

That being said, Amazon had continued to stay more stable like a valued stock coupled with the properly managed team created by Jeff Bezos while he reigned at Amazon as its CEO.

  • Under Jeff Bezos’s tenure as the chief executive officer of the e-commerce giant, actually ranked second among all S&P stocks since the IPO in May 1997.
  • Amazon is the world’s biggest online retailer company. The American-based company sells books, household goods, and other retail products through its flagship platform.

The company also controls the Whole Foods grocery chain and offers video streaming services. It remains the biggest cloud computing provider worldwide.

The 57-year-old billionaire’s present wealth valuation would presently buy 102 million troy ounces of gold or 2.79 Billion barrels of crude oil.

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