Bill Gates no longer 2nd richest man, replaced by this billionaire

He is tech titan Microsoft co-founder, investor, author,  philanthropist and humanitarian, but Bill Gates is no longer the second richest man in the world. According to the Bloomberg Billionaires Index , Bill Gates has been pushed to position number three with a net worth of $107 billion. Gates was replaced by Bernard Arnault, Chairman and Chief Executive Officer of LVMH Moet Hennessy - Louis Vuitton SE, with a net worth of $108 billion.

Furthermore, Jeff Bezos, CEO of Amazon retains the position of being the richest man in the world, with a net worth of $125 billion. It is interesting to note that despite his divorce, he is stable at his top position. 

As per Bloomberg, the reason for Bill Gates to slip into position number three is his charitable giving. He has passed over roughly $35 billion to the Bill and Melinda Gates Foundation.