Can you say “passive income”? Bill Gates, who is already worth $122 billion, made an additional $2 billion on Wednesday from the 7.2% increase in Microsoft stock price.
According to Marketwatch, Gates had a great day on Wall Street. Microsoft’s stock rose by $19.95, to $295.37, the highest one-day gain in the company’s history. Gates owns about 1% of Microsoft and 103 million shares, making him the company’s largest investor. Not bad, taking into account Microsoft’s $2.2 trillion market valuation.
Analysts say Microsoft’s stock rose today due to the company’s above-average quarterly profits. The financial market is also very positive about its AI products and services.
Not only did today’s news benefit Gates, but investors as a whole, as the Dow Jones Industrial Average recovered from its lowest day in a month.
To catch up to Bernard Arnault, the world’s richest man, who is worth over $200 billion, Gates will need many more days like today.