Bill Gates co-founded Microsoft Corporation in 1975 with Paul Allen, at a key point in technology resolution.
However, Gates himself stepped back from the day-to-day running of the company some time ago. Today he is known for his philanthropic efforts through the Bill and Melinda Gates Foundation.
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According to Bloomberg, Bill Gates has a total net worth of $128bn, making him the fifth richest person in the world. Taking the reigns above him are billionaires Elon Musk, Bernard Arnault and Jeff Bezos.
Here we look at how Bill Gates managed to build his fortune and the factors that contribute to his net wealth today.
The story of Bill Gates and Microsoft
Bill Gates is widely regarded as one of the most successful entrepreneurs in modern history. Under his stewardship, Microsoft became a technology empire that revolutionized the way people use computers. Its software and hardware products have transformed the technology industry, streamlining processes, connecting people around the world, and enhancing the productivity of businesses and individuals.
Gates was born in Seattle, Washington, in 1955. He showed an early interest in technology and computers, even though the industry was still in its early stages.
By the age of 13, he taught himself how to program his first computer and went on to attend Harvard University. Despite making it into this prestigious university, Gates dropped out after only two years to pursue his passion - computers and technology.
The official founding date of Microsoft is 1975. Gates co-founded the business with his childhood friend, Paul Allen, and initially focused on producing software for personal computers.
Their big breakthrough came in 1980. That year Microsoft signed a deal with IBM to provide the operating system for its new line of personal computers, MS-DOS - a game-changer for Microsoft. It cemented the firm’s position as a major player in the emerging computer industry.
Over the next five years, with the cash from IBM flowing in, Microsoft continued to innovate and expand its product offerings.
The first version of Windows, which would become its flagship operating system for personal computers (PCs) was put on sale in 1985.
In the years that followed, Microsoft released a series of highly successful products, including Microsoft Office, Internet Explorer, and the Xbox gaming console.
From the early days of MS-DOS and Windows to more recent successes like the Xbox and Azure, Microsoft has always been willing to push the boundaries and try new things.
The story behind Bill Gates’s net worth
As the majority shareholder of Microsoft, Gates’s fortune rose with the company’s success.
In fact, he was the world's richest person for several years in a row during the 1990s and early 2000s.
One of the key factors that contributed to Gates' success was his ability to see the future of technology and anticipate the needs of consumers. He could see the potential of personal computers when other companies were only just getting to grips with large mainframe servers for businesses. His vision helped him create products that would appeal to a broad range of users.
But with success came criticism. Microsoft was accused of engaging in anti-competitive practices, and the company was the subject of a high-profile antitrust lawsuit in the late 1990s.
The lawsuit alleged that Microsoft used its dominant market position to stifle competition and maintain a monopoly in the computer industry. While Microsoft ultimately settled the case, the controversy surrounding the company and its founder lingered for some time.
Bill Gates made his money through his visionary leadership and innovative approach to the technology industry. He co-founded Microsoft and built it into a global technology empire that has changed the world. While his success was not without controversy, there is no denying that Gates' legacy will continue to inspire and shape the technology industry's future for years to come, both with Microsoft and his charitable foundation.
What does Bill Gates do with his wealth
Gates is known for his selfless personality, which is the underlying reason for his desire to give away most of his wealth. He and his ex-wife own the Bill and Melinda Gates Foundation which is a charity to help fight against poverty, inequity and disease around the world.
According to Forbes, Gates has donated at least $35.8bn of his Microsoft stake to his foundation. In 2010, Gates launched the Giving Pledge, a pledge he and other wealthy individuals have signed up to with the aim of distributing all of their wealth to good causes.
Other billionaires have also donated to Gates Foundation, including Warren Buffett who has donated more than $36bn since 2006.
Vaishali graduated in journalism from Leeds University and she has experience working with the likes of Leicester Mercury, Inews and The Week. She also comes from a marketing background, where she has done copywriting and content creation for businesses.
Currently writing about all things personal finance, Vaishali is passionate about finding the best deals around, whether it's the best credit cards or the cheapest personal loans, as well as sharing top money hacks to help people save and better manage their money.
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