Bill Gates back on top of World rich list
Administrator on March 12th, 2009
Microsoft co-founder Bill Gates has regained the top spot on Forbes’ annual list of the world’s richest people as investment guru Warren Buffett and Mexican telecom magnate Carlos Slim each lost $US25 billion ($A38.71 billion).
Bill Gates lost just $US18 billion ($A27.87 billion) in the financial apocalypse that hit world markets last year and is now worth $US40 billion ($A61.93 billion) compared to Warren Buffet’s $US37 billion ($A57.28 billion) and Slim’s $US35 billion ($A54.19 billion).
The financial devastation took a heavy toll on the world’s billionaire’s club, with the top 10 richest people losing a total of $US238 billion ($A368.48 billion) – more than the gross domestic product of Ireland or Israel.
In total the number of billionaires in the 2009 rich list fell to 793 from 1,125 a year earlier, while the total net worth of the billionaire’s club was just $US2.4 trillion ($A3.72 trillion) – down from $US4.4 trillion ($A6.81 trillion) the year earlier.
The average billionaire is now worth $US3 billion ($A4.64 billion), down from $US3.9 billion ($A6.04 billion) in 2007.
The year’s biggest loser was India’s Anil Ambani, who saw his value decline by $US31.9 billion ($A49.39 billion) to $US10.1 billion ($A15.64 billion). His compatriot Lakshmi Mittal also suffered staggering losses. His fortune plummeted $US25.7 billion ($A39.79 billion) to $US19.3 billion ($A29.88 billion).
Recession Wipes 30% Of Forbes Billionaires Off List
Forbes says there are now 793 billionaires, down 30% from last year, and the first drop since 2003. The average billionaire’s net worth dropped 23%.
WSJ: Despite losing $18 billion in the past year, Microsoft Corp. co-founder Bill Gates reclaimed the title of richest man in the world, with a total net worth of $40 billion.
Warren Buffett is No. 2, with $37 billion. He lost $25 billion in the past year as shares in his company, Berkshire Hathaway Inc., dropped nearly a third in value. Mexican telecom titan Carlos Slim Helu, who lost $25 billion, is third, and Oracle Corp. Chief Executive Larry Ellison is No. 4.
Meanwhile, Facebook CEO Mark Zuckerberg — last year’s youngest billionaire — dropped off the list as the value of his Facebook stock dropped.
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