Microsoft co-founder and philanthropist Bill Gates had a very profitable day on Wednesday, April 27, 2023. He earned a whopping $2 billion just by watching his shares in the tech giant soar 7.2% in a single-day rally. This increased his net worth to $124 billion, making him the fourth richest person in the world.
What caused Microsoft’s stock surge?
Microsoft reported better-than-expected quarterly earnings on Tuesday, April 26, 2023. The company posted revenue of $46.2 billion, up 19% year-over-year, and earnings per share of $2.03, beating analysts’ estimates of $1.78. The company also announced a 11% increase in its quarterly dividend and a new $60 billion share buyback program.
One of the main drivers of Microsoft’s growth was its cloud computing business, Azure, which grew 50% year-over-year and accounted for 20% of the company’s total revenue. Microsoft also saw strong demand for its Office 365, LinkedIn, Xbox, and Surface products.
Wall Street analysts were impressed by Microsoft’s performance and raised their price targets for the stock. Morgan Stanley analyst Keith Weiss said Microsoft was “the best positioned large cap software vendor” and increased his target from $305 to $325. Wedbush analyst Daniel Ives said Microsoft was “firing on all cylinders” and raised his target from $310 to $325.
How much does Bill Gates own in Microsoft?
Bill Gates is the largest individual shareholder of Microsoft, owning around 103 million shares, or 1.3% of the company. He co-founded Microsoft with Paul Allen in 1975 and served as its CEO until 2000 and chairman until 2014. He stepped down from the board in 2020 to focus on his philanthropic work through the Bill & Melinda Gates Foundation.
Gates has been gradually reducing his stake in Microsoft over the years, selling or donating about 100 million shares annually. He has given away more than $50 billion worth of Microsoft stock to various causes, mostly to his foundation. He has also pledged to give away most of his fortune as part of The Giving Pledge, a campaign he launched with Warren Buffett in 2010.
Who are the richest people in the world?
According to Forbes’ real-time billionaires list, as of April 27, 2023, the top five richest people in the world are:
– Bernard Arnault, chairman and CEO of LVMH, with a net worth of $201 billion.
– Jeff Bezos, founder and executive chairman of Amazon, with a net worth of $196 billion.
– Elon Musk, founder and CEO of Tesla and SpaceX, with a net worth of $188 billion.
– Bill Gates, co-founder of Microsoft and co-chair of the Bill & Melinda Gates Foundation, with a net worth of $124 billion.
– Mark Zuckerberg, founder and CEO of Facebook, with a net worth of $121 billion.
What are Bill Gates’ plans for the future?
Bill Gates is mainly focused on his philanthropic work through his foundation, which is the largest private foundation in the world. The foundation aims to improve global health, education, and poverty alleviation. Some of its major initiatives include eradicating polio and malaria, developing vaccines and treatments for COVID-19 and other diseases, promoting family planning and reproductive health, supporting agricultural development and nutrition, and investing in clean energy and climate solutions.
Gates is also an avid reader and writer. He publishes an annual letter with his wife Melinda Gates, sharing their insights and perspectives on various topics. Writes a blog called Gates Notes, where he reviews books, shares his opinions on current issues, and answers questions from his followers. He also recently published a book called How to Avoid a Climate Disaster: The Solutions We Have and the Breakthroughs We Need, where he outlines his vision for achieving net-zero greenhouse gas emissions by 2050.
Gates is also known for his curiosity and passion for learning new things. He has taken online courses on topics such as epidemiology, neuroscience, philosophy, and history. Visited various places around the world to learn from different cultures and perspectives. He has said that he likes to challenge himself and try new things every year.