Bill Gates Third Richest Man In The World.
Warren Buffett has become the richest man in the world according to the Forbes business magazine which ranks the billionaires of the world each year. The famous stock market investor has long been denied the number position by his friend and bridge playing partner Bill Gates.
Bill Gates held the number one position on the world rich list for the past thirteen years in a row. The Microsoft billionaire didn't see his fortune disappear over the past twelve months, his wealth just didn't grow as quickly as the world's most famous value investor.
Mr. Microsoft is still worth an impressive $58 billion, which is an increase of $2 billion over the past year. Gates is now in third place with the richest Mexican Carlos Slim Helu taking second place. If investors in Microsoft were happier with its bid for the Internet company Yahoo! Gates may still have held onto his number one position on the global rich list. Since Microsoft made a bid for Yahoo! towards the end of January through to the Forbes cutoff date on the 11th of February Microsoft saw its share price head south by 15%, which may have been enough to knock Bill Gates off of his perch.
Warren Buffett's company Berkshire Hathaway has seen its share price increasing despite the turmoil that has hit world share markets over the past 12 months. Buffett saw his personal fortune rise by $10 billion, giving him a net worth of $62 billion.
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