The Microsoft cofounder’s long streak as the country’s first or second richest has ended—in part due to stock transfers tied to his divorce.
For the first time since 1991, the Microsoft cofounder isn’t No. 1 or No. 2 on The Forbes 400, which annually ranks the richest people in the U.S. While Gates’s fortune jumped by $23 billion from a year ago—to an estimated $134 billion—it wasn’t enough to catch Amazon founder Jeff Bezos, Tesla CEO Elon Musk and Facebook CEO Mark Zuckerberg, whose fortunes reached new heights thanks to their respective companies’ rising share prices. Gates came in behind those three, landing at the No.
Nearly a quarter of Gates’ fortune comes from his estimated 1.3% stake in Microsoft, worth $31 billion as of September 3, the date Forbes took a snapshot of wealth for this year’s Forbes 400 list. The rest of Gates’ fortune comes from his investment firm, Cascade Investment LLC, along with other assets, such as his sprawling $143 million estate in Medina, Washington dubbed “Xanadu.
It was only up from there. Microsoft exceeded $1 billion in revenue for the first time in 1990, becoming the largest-ever supplier of computer software at the time. In 1991 Gates leapfrogged to No. 2 on The Forbes 400 , with a net worth of $4.8 billion. The following year, in 1992, he became the richest person in America, worth $6.3 billion.
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