07 March 2008

Bill Gates No Longer World's Richest Man



Warren Buffett is the richest man on the planet.

Riding the surging price of Berkshire Hathaway stock, America's most beloved investor has seen his fortune swell to an estimated $62 billion, up $10 billion from a year ago. That massive pile of scratch puts him ahead of Microsoft co-founder Bill Gates, who was the richest man in the world for 13 straight years.

Gates is now worth $58 billion and is ranked third in the world. He is up $2 billion from a year ago, but would have been perhaps as rich--or richer--than Buffett had Microsoft not made an unsolicited bid for Yahoo! at the beginning of February.

Microsoft shares fell 15% between Jan. 31, the day before the company announced its bid for the search engine giant, and Feb. 11, the day we locked in stock prices for the 2008 World's Billionaires list. More than half of Gates' fortune is held outside of Microsoft shares.

Mexican telecom tycoon Carlos Slim Helú is the world's second-richest man, with an estimated net worth of $60 billion. His fortune has risen $11 billion since last March.

How about Singaporeans?

Five Singaporeans also made the list this year.

Property magnate Ng Teng Fong, 79, of Far East Organization (No. 132). - US$7.0b

Banking Tycoon Wee Cho Yaw and his family of UOB bank (No. 396). - US$2.9b

Zhong Sheng Jian, 49, of developer Yanlord Land Group (No. 524). - US$2.3b

Mr Kuok Khoon Hong, 59, of palm oil giant Wilmar International (No. 897). - US$1.3b

Former remisier and now investor Peter Lim, 54, (No. 1062). - US$1.0b

Youngest Self-made billionaire?

Facebook founder Mark Zuckerberg, 23, is currently worth US$1.5b!

(Information extracted from various sources: Forbes and SPH)

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