Showing posts with label Microsoft Founder. Show all posts
Showing posts with label Microsoft Founder. Show all posts

Tuesday, March 1, 2016

Facebook founder's wealth jumps tremendously in 2016


Forbes Magazine announced its annual list of the world's richest persons on Tuesday (March 1), which was topped by Microsoft founder Bill Gates for the 17th time.

Gates has held the number one spot 17 of the last 22 years, according to the magazine, although his wealth has shrunk to $75 billion (USD), down from $79.2 billion last year.

Spanish retail giant Amancio Ortega came in second, with a net worth of $67 billion. Ortega is best known for his fashion chain Zara.

The Oracle of Omaha, Warren Buffett remained in the third spot, despite the fact that his net worth dropped by $11.9 billion to $60.8 billion.

Mexican telecom giant Carlos Slim dropped two spots to number four, after his wealth decreased by $27 billion, to $50 billion compared to 2015.

Amazon.com founder and CEO Jeff Bezos moved up ten spots to number five, his net worth now estimated at $45.2 billion.

At number six is Facebook founder Mark Zuckerberg, who is the biggest gainer on the 2016 list. Zuckerberg's fortune is up $11.2 billion for a total net worth of $44.6 billion.

The richest woman in the world is French cosmetics giant L'Oreal heiress Liliane Bettencourt, with an estimated net worth of $36.1 billion.

This year, the magazine says 1,810 billionaires made the list, down from 1,826 in 2015. Their average net worth is $3.58 billion, down $280 million from $3.86 billion in 2015.

The United States has the most billionaires with 540, followed by China with 251, Germany with 120, India with 84 and Russia with 77.

source: www.abs-cbnnews.com

Tuesday, October 1, 2013

'Time for Bill Gates to leave Microsoft'


NEW YORK/SEATTLE - Three of the top 20 investors in Microsoft Corp are lobbying the board to press for Bill Gates to step down as chairman of the software company he co-founded 38 years ago, according to people familiar with matter.

While Microsoft Chief Executive Steve Ballmer has been under pressure for years to improve the company's performance and share price, this appears to be the first time that major shareholders are taking aim at Gates, who remains one of the most respected and influential figures in technology.

A representative for Microsoft declined to comment on Tuesday.

There is no indication that Microsoft's board would heed the wishes of the three investors, who collectively hold more than 5 percent of the company's stock, according to the sources. They requested the identity of the investors be kept anonymous because the discussions are private.

Gates owns about 4.5 percent of the $277 billion company and is its largest individual shareholder.

The three investors are concerned that Gates' presence on the board effectively blocks the adoption of new strategies and would limit the power of a new chief executive to make substantial changes. In particular, they point to Gates' role on the special committee searching for Ballmer's successor.

They are also worried that Gates - who spends most of his time on his philanthropic foundation - wields power out of proportion to his declining shareholding.

Gates, who owned 49 percent of Microsoft before it went public in 1986, sells about 80 million Microsoft shares a year under a pre-set plan, which if continued would leave him with no financial stake in the company by 2018.

Gates lowered his profile at Microsoft after he handed the CEO role to Ballmer in 2000, giving up his day-to-day work there in 2008 to focus on the $38 billion Bill & Melinda Gates Foundation.

In August, Ballmer said he would retire within 12 months, amid pressure from activist fund manager ValueAct Capital Management.

Microsoft is now looking for a new CEO, though its board has said Ballmer's strategy will go forward. He has focused on making devices, such as the Surface tablet and Xbox gaming console, and turning key software into services provided over the Internet. Some investors say that a new chief should not be bound by that strategy.

Microsoft is still one of the world's most valuable technology companies, making a net profit of $22 billion last fiscal year. But its core Windows computing operating system, and to a lesser extent the Office software suite, are under pressure from the decline in personal computers as smartphones and tablets grow more popular.

Shares of Microsoft have been essentially static for a decade, and the company has lost ground to Apple Inc and Google Inc in the move toward mobile computing.

One of the sources said Gates was one of the technology industry's greatest pioneers, but the investors felt he was more effective as chief executive than as chairman.

source: www.abs-cbnnews.com

Friday, February 24, 2012

Bill Gates urges digital revolution against hunger


ROME — Microsoft founder Bill Gates on Thursday called for a “digital revolution” to alleviate world hunger by increasing agricultural productivity through satellites and genetically-engineered seed varieties.

“We have to think hard about how to start taking advantage of the digital revolution that is driving innovation including in farming,” the US billionaire philanthropist said in a speech at the UN rural poverty agency IFAD in Rome.

“If you care about the poorest, you care about agriculture. We believe that it’s possible for small farmers to double and in some cases even triple their yields in the next 20 years while preserving the land,” Gates said.

He gave as one example of innovation the genetic sequencing that allows cassava farmers in Africa to predict how individual seedlings will perform, shortening the time it takes to develop a new variety from 10 years to two.

Another key development is the use of satellite technology developed by defence departments to document data about individual fields, as well as information videos of farmers discussing best practices to help others.

“If we don’t do this, we’ll have a digital divide in agriculture,” he said.

Gates also defended the use of genetically modified organisms (GMOs) in the developing world and large-scale farm land investments by foreign states in the developing world—both highly controversial issues in the aid community.

“You should go out and talk to people growing rice and say do they mind that it was created in a laboratory when their child has enough to eat?” he told reporters at a small media roundtable after his speech.

“The change in the way mankind lives over the last several hundred years is based on adoption of innovative practices and we simply haven’t done enough for those in the greatest need to bring these things,” he said.

On the issue of land investments that are referred to by their critics as “land grabbing”, he said: “It’s not actually possible to grab the land. People don’t put it on boats and take it back to the Middle East.

“If we could have clear guidelines there could be more land deals and overall it could be very beneficial… The truth is the person who is most at risk on a land deal is the person who is putting the money in.”

Gates also unveiled $200 million (150 million euros) in new grants from his foundation to finance research on a new type of drought-resistant maize, a vaccine to help livestock farmers and a project for training farmers.

“Investments in agriculture are the best weapons against hunger and poverty,” he said, adding that his charitable foundation had committed $2.0 billion for farmers and was working on seven crops and one livestock vaccine.

Gates called for a new system of “public scorecards” for developing countries and UN food agencies that would measure things like agricultural productivity, the ability to feed families and farmer education systems.

“It’s something that can be pulled together over the next year,” he said.

“When I meet with an African leader, I’d love to have that report card. I have a report card for health…. Without the scorecards, the donors tend to fund fad-oriented, short-term things,” he told reporters.

The technology pioneer also criticized the work of the U.N. food agencies in Rome: the Food and Agriculture Organization (FAO), the World Food Programme (WFP) and the International Fund for Agriculture and Development (IFAD).

He said the current food and farming aid system was “outdated and somewhat inefficient” with a lot of “duplication.”

For these organizations to go digital will take “a lot of time,” he said.

Asked about the need for wider reforms of capitalism to help the poor, he said: “How do you get rid of its excesses, including the finance people who are paid these huge salaries, without hurting the beneficial things?”

He added: “I wish those Wall Street traders would have gone… and worked on maize and used their mathematical models to look at phenotype versus genotype. “It’s clearly imperfect but it’s the best system we have.”

source: japantoday.com