Microsoft co-founder Bill Gates has surpassed Mexican telecomm mogul Carlos Slim as the richest man in the world, as shares of Microsoft surged to a five-year high, according to a tweet from Bloomberg.
BREAKING: Bill Gates dethrones Carlos Slim as the world's richest man as Microsoft hits five-year high
— Bloomberg News (@BloombergNews) May 16, 2013
Microsoft stock, of which Gates owns 436 million shares, is up more than 27 percent so far this year.
Gates, who has held the title of world's richest man in the past, would have an even larger lead on his fellow billionaires if it wasn't for his famed philanthropy. As of 2011, Gates had already given away more than one-third of his wealth to the Bill and Melinda Gates foundation, according to an Associated Press report.
The first time Slim surpassed Gates as world's richest man was in 2007, according to Bloomberg.