Bill Gates is back to being the 2nd richest person in the world—after 1 day behind Bernard Arnault
Arnault’s net worth fell by $1 billion on Wednesday as shares of LVMH dropped 0.17% on the. About 90% of Arnault’s fortune lies in LVMH stock he and his family hold. Gates, meanwhile, has sold or given away much of his Microsoft stake; he only owns around 1% of the $1.1 trillion software company he cofounded with Paul Allen.
Though Microsoft stock fell a tiny bit Wednesday—just 0.28%—some of Gates’ other investments, including Berkshire Hathaway and waste manager Republic Services, ended the day higher, offsetting much of Microsoft’s minute losses. That made the difference in this near neck-and-neck game of billions.
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