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#3 William Gates III 03.05.08, 6:00 PM ET
Fortune: self made Source: Microsoft Net Worth: $58.0 bil Country Of Citizenship: United States Residence: Medina, Washington , United States, North America Industry: Software Marital Status: married, 3 children Education: Harvard University, Drop Out Harvard dropout and Microsoft visionary no longer the world's richest man. Blame Yahoo: Microsoft shares have fallen 15% since the company boldly attempted to merge with the search engine giant to better fight Google for Internet dominance. Gates is preparing to give up day-to-day involvement in the company he cofounded 33 years ago to spend more time focused on his philanthropic endeavors. Bill & Melinda Gates Foundation has $38.7 billion in assets, donates to causes aimed at bringing financial tools to the poor, speeding up the development of vaccines (for AIDS, malaria, tuberculosis), bettering America's lagging high schools. Sells 20 million Microsoft shares every quarter, proceeds going to private investment vehicle Cascade; more than half of net worth now outside of Microsoft. Company spent $6 billion to land Web ad firm Aquantive last May. Would-be rival to Apple's iPod, the Zune, not yet a hit. Believes Microsoft's far-flung bets, including 10-year affair with Internet-based television, may soon pay off; says next 10 years will be the "most interesting" in software history.
Distribution of Billionaires by ResidenceDiameter of disc reflects size of fortune. The red disc indicates William Gates III
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