NEWS

Gates Tops Growing Billionaires List, While Jobs Slowly Climbs

Written by Phillip Winn
Published March 15, 2006

The Forbes Magazine annual report of "The World's Billionaires" for 2006 lists 793. While Bill Gates, Chairman and Chief Software Architect for Microsoft, still tops the list with $50 billion, Steve Jobs, CEO of Apple and Pixar, has climbed up the list to #140, with $4.4 billion. He was ranked at #193 in 2005, with $3 billion.

In 1986, when Forbes created the list, there were 140 people around the world with fortunes of a billion dollars or more. This year's 793 is a new record. Together they are worth $2.6 trillion, making their average net worth $3.3 billion.

The United States leads the world in billionaires, and Steve Jobs is not even the richest person in California's Bay Area. The U.S. is just 26 people shy of having half of the world's billionaires, and exceeds half when combined with Germany (55), Russia (33), or Japan (27). They hail from 49 different countries overall, six of which have one billionaire each (Argentina, the Czech Republic, Greece, Iceland, Monaco, and Portugal).

In the case of Steve Jobs, his wealth comes from both Apple Computers, where the iPod is selling briskly, and Pixar, which Disney recently agreed to buy for $7.4 billion. While Apple pays Jobs a salary of only $1 (to qualify for company benefits) in many years, his bonuses and stock grants have helped him grow wealthier year to year. Jobs was the highest-paid Bay Area executive in 2003, and all but $1 came in the form of a large stock grant (which finishes vesting this month) and a jet. In 2004 he was judged as the most underpaid CEO by the San Francisco Business Times, based on his $1 total compensation from Apple that year.

Jobs and Gates have famously sparred, with Jobs enjoying a popular image while Gates battles criticism. Jobs is one year older than Gates, but the gap between $4.4 and $50 billion holds 138 people, and it doesn't seem likely that Jobs — or anyone else — will ever catch up.

Phillip Winn is the Technical Director for BC Magazine, which leaves him far too little time to write, which makes every article he writes that much more precious.
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Gates Tops Growing Billionaires List, While Jobs Slowly Climbs
Published: March 15, 2006
Type: News
Section: Sci/Tech
Filed Under: Culture: Business and Economics
Writer: Phillip Winn
Phillip Winn's BC Writer page
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Comments

#1 — March 15, 2006 @ 16:57PM — Tan The Man [URL]

Jobs is about to have some restricted stock turn unrestricted soon. If he cashes them, he'll be a few hundred million dollars richer.

#2 — March 15, 2006 @ 17:02PM — Phillip Winn [URL]

This month, in fact!

I believe that the Forbes list actually counts stock owned as part of wealth, but not "options."

This is all prior to the Disney deal going through, too.

#3 — April 16, 2006 @ 07:57AM — Vince Mcmahon

jobs and gates can both go to hell! What do i care about their wealth. My wealth will surpass them in no time. So please support me and watch WWE!

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