Gates No Longer World's Richest Man!!!!!
By argie713
@argie713 (1809)
Philippines
April 7, 2008 7:54am CST
Warren Buffett is the richest man on the planet.
Riding the surging price of Berkshire Hathaway (nyse: BRK - news - people ) 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 (nasdaq: MSFT - news - people ) 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! (nasdaq: YHOO - news - people ) 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.
This is just part of the post. Read the full article here.
http://www.forbes.com/2008/03/05/buffett-worlds-richest-cx_mm_0229buffetrichest.html
I did not expect this to happen soon. I thought this wuld happen next year.
1 person likes this
12 responses
@Lakota12 (42600)
• United States
7 Apr 08
what would really be good if these rich people would spread that money around . what do they do with this money that they accumilate just pocket it
I saw in the news this morning that over 200,000 popel lost their jobs last month seems like these rich fellers could greate more jobs for poeple to do what do you think!
1 person likes this
@argie713 (1809)
• Philippines
7 Apr 08
True! If I was rich enough, I would share my money and get what I only need. I don't know what they would do with their excess money. Don't they think about people who doesn't have enough. Since there is democracy, they can do whatever they want. They can hoard money as long as they want. We can't blame them though. They have gone through a lot just to reach their status. The three richest people can give out $10 to every person in the world.
@Ohara_1983 (4117)
• Kuwait
7 Apr 08
in this time maybe it yes, but still they are lucky to become a richman in the planet. i dont know how much they spend in one day, i think they will not think anymore even that cost in one day for a billion:)but we still lucky even we are not reach but our heart is rich of LOVE me i right.
1 person likes this
@Eskimo (2315)
•
7 Apr 08
Does it really matter who has the most money, its all relative anyway. It's not possible to drive in more than 1 car at a time, or live in the one house either. I think once your on to your second or third million then anything else is totally wasted. $58 billion or $62 billion, doesn't make any difference except what you actually do with the money.
If this money is just hoarded then it is a complete waste, this should be put to helping doing good in the world, (like donate $1,000,000 to my favourite good cause - Me 
(or even give me an interest free loan of it for a year). After all, he can't take it with him when he is gone.
[In actual fact, he does have a charitable foundation which has $29 billion to give to health and education projects this is the website for it
http://www.gatesfoundation.org/default.htm ]/
(or even give me an interest free loan of it for a year). After all, he can't take it with him when he is gone.
[In actual fact, he does have a charitable foundation which has $29 billion to give to health and education projects this is the website for it
http://www.gatesfoundation.org/default.htm ]/
1 person likes this
@argie713 (1809)
• Philippines
7 Apr 08
I have read it. That $29 billion was the figure in 2006. Now it is $38.7 billion.
http://en.wikipedia.org/wiki/Bill_and_Melinda_Gates_Foundation
So much for donating.
"To maintain its status as a charitable foundation, it must donate at least 5% of its assets each year"
To be a charitable foundation, for me, you must donate 70% of your assets. They are still hoarding all that money. They are investing it for profit. If you are really a philanthropist, you must get rid of all luxury you have and live a simple life.
1 person likes this
@Aingealicia (1905)
• United States
7 Apr 08
Booyaah that whining, sniveling, stealing little boy needs to go home and be poor.
Go Warren great job.
Ainge
1 person likes this
@Aingealicia (1905)
• United States
8 Apr 08
Well let's see what happens with the Yahoo deal. I got the Wall Street Journal yesterday, very interesting what is going on.
Ainge
@MrDanger2k8 (443)
• United States
7 Apr 08
lol give me 10-15 years I gurantee you that this discussion will be about me being the richest man in the world lol. but thats insane gates finally got knocked off his throne lol.
1 person likes this
@MrDanger2k8 (443)
• United States
7 Apr 08
lol yeah 13 is the so called unlucky number. but I seriousally think that this dosent affect gates at all lol with all the money he owns he could buy the people who do the record books and put himself back in first place. but 1st or second he still has a boatload of money lol
1 person likes this
@coolmailraj (2460)
• India
8 Apr 08
That is cool.
I mean after being richest for 13 years it would have felt low for Gates but for the others it means that they can be up there too, while some years ago a feeling of never being able to be up there crept rising among the business men worldwide.
though I thought that "Ambani" would be there in the top three at least, the Reliance owner from India.
@bongkarpasang (1377)
• Indonesia
9 Apr 08
Warren Buffett rocks again. :P
I ever read his profile back then (there was a translated version of “The Warren Buffett Way”), I accidentally found the book in Dad’s rack and decided to read it. He is an awesome man with outstanding market analyzing. I just wonder about his great instinct in investment. LOL. Everything he invested in, the people would follow the same direction. :P He really knows where to get the next fortunes. 
@mighty2007 (53)
• Nigeria
8 Apr 08
i am surprised to hear that Gates is no longer the world's number one. maybe i will check it out for myself in the web.
@getunaddicted (210)
• United States
9 Apr 08
One of these days, you will see my atleast in th Forbes 500 :D
@Esoteric1 (863)
• Canada
8 Apr 08
as crappy as his OS's can be, i'm sorta glad he got knocked down a peg even if only for a little while.
