Gates regains Forbes rich list top spot

Microsoft founder Bill Gates has found himself back at the top of Forbes magazine's list of the richest billionaires as the worldwide economic downturn takes its effect on the wealth of many of the world's richest people.

332 people have been wiped off the list completely after their fortunes have fallen below the $1 billion mark, according to BBC News, leaving just 793 total places. One of those booted off the list, also losing the title of world's youngest billionaire, is the founder of Facebook Mark Zuckerberg.

Despite having $18 billion wiped off the value of his fortune, Bill Gates tops the list with a wealth of $40 billion whilst last year's number one - investor Warren Buffet - lost $25 billion, reducing his fortune to $37 billion. Warren Buffet managed only 1 year in the top spot after ending Bill Gates' 13 year reign at the head of the list last year. The fall of the stock market has taken its toll on him and many others though, with Buffet's Berkshire Hathaway firm loosing 50% of its share value over the past year.

The net worth of the billionaires in the list is now $2.4 trillion compared to $4.4 trillion last year, with only 44 people on the list having increased their wealth in the past 12 months and 656 people having declining fortunes. The top 20, half of who are now US citizens, total a fortune of $14 billion which is down from $21 billion last year.

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Remember that Gates and Buffet are giving away the majority of their fortunes to charity. When they lose, so does everyone who these folks want to give to.

Windows7even said,
at least gates is trying to do some good in the world with what he's got...buffet is just hoarding it

Warren Buffet has pledged $30 billion to the Bill and Melinda Gates foundation.
On his death he's leaving 5% of his personal wealth to each of his children, the remainder of his fortune will go to charity.

@raa

This was huge news a couple of years ago. How about for sources we go with:

[Warren Buffet] tells editor-at-large Carol Loomis he will start giving away 85% of his wealth in July - most of it to the Bill & Melinda Gates Foundation.
â€Â¦tells editor-at-large Carol Loomis he will start giving away 85% of his wealth in July - most of it to the Bill & Melinda Gates Foundation.
Fortune Magazine

Of course 15 seconds of web searching will find supporting stories from pretty much every major news source in the western world.


I wonder why do people care if he's in top 3 or whatever of the world richest people or not? He isn't like going to give any of us anything, so why all the news about him?

Not to mention all the news about Windows. Did anyone ever think that all the leaks could actually be on purpose? I mean, let the people have a beta version.. what the hell.. it's going to expire in a few months so why not? People will talk about it and perhaps buy it when it's finished. It's a marketing thing, or at least that's how i see this *news* that have been posted lately.

caesar said,
I wonder why do people care if he's in top 3 or whatever of the world richest people or not? He isn't like going to give any of us anything, so why all the news about him?

Not to mention all the news about Windows. Did anyone ever think that all the leaks could actually be on purpose? I mean, let the people have a beta version.. what the hell.. it's going to expire in a few months so why not? People will talk about it and perhaps buy it when it's finished. It's a marketing thing, or at least that's how i see this *news* that have been posted lately.

1. Are you serious?
2. Yes, it's been discussed quite a few times in each topic and in the article comments.

People care because they're interested in that sort of thing. besides, the fact he's donating so much of it makes it a rather big deal.

Why on earth would they intentionally "leak" builds to get out there if they have already committed to public betas and release candidates.

Typhoeus said,
caesar, open a new tab and google The Bill & Melinda Gates Foundation. Hurm? Chill pills, have some.


Geez, take some yourself, why don'tcha?

I am quite happy to see that.

I always think that Bill Gates is rich becoz of his hard working, but Buffet just became rich by playing games on numbers (gambling).

GraphiteCube said,
I am quite happy to see that.

I always think that Bill Gates is rich becoz of his hard working, but Buffet just became rich by playing games on numbers (gambling).

While this is technically true, don't think that becoming a billionaire investor is easy, it takes probably as much graft as it took BG to get his billions.

not sure how much time you've spent in the investing world but investing != gambling...not when you do it the way buffet did. he didn't just randomly pick companies and threw money at them hoping to fall on the good side...

there's a lot of analysis that goes into determining if the company is of good value...on top of that he opts for companies that aren't aggressive in their growth but provide value over long term...he still takes 100K in salary (not sure if it's inflation adjusted) and no bonuses. he deserves every penny he's made.

GraphiteCube said,
I always think that Bill Gates is rich becoz of his hard working

It also helps to have rich lawyer parents with connections to top US tech companies, and assorted political figures.

I find the general information more interesting than who's at the top of the list (which I couldn't care less about). Going from a net worth of $4.4 trillion to $2.4 trillion is significant indeed. At least us little people aren't the only ones being f***ed with by the economy (although we're the ones who really feel it).

loosing the title of world's youngest billionaire

OK, I see this usage enough to wonder if I'm wrong in thinking that it should be "losing".

It's really quite sad the number of people who can't spell a 4-letter word correctly. 8-)

No offense intended, just see this mistake far too often.

drytoast said,
it should be "losing".

CougarDan said,
It's really quite sad the number of people who can't spell a 4-letter word correctly. 8-)

No offense intended, just see this mistake far too often.

"Losing" is a SIX letter word. Not a "4-letter word".

kokoloko2k3 said,
"Losing" is a SIX letter word. Not a "4-letter word".

The mistake isn't in using the present participle (ing), it's in the root word itself.

Lose is the correct word (4-letters) not loose.

I don't focus much on the accuracy of these lists but i still consider him as richest person in world in my mind :P. Congrats Bill Gates for climbing the ladder and reaching the top

It's nice to see that the wealthiest man in the world also happens to be one of the most generous. It's pretty hard to hate a guy like that.

Glad to see the Facebook kid off the list. Maybe come back when you do something worthwhile, ok?

The net worth of the billionaires in the list is now $2.4 trillion compared to $4.4 trillion last year

Wow, sign of the times there.