As hundreds of billionaires disappeared in last year's financial carnage, Microsoft's Bill Gates regained the No. 1 spot despite losing nearly $20 billion.
By Forbes.com
The world has become a wealth wasteland.
Like the rest of us, the richest people in the world have endured a financial disaster over the past year. Today there are 793 people on our list of the world's billionaires, a 30% decline from a year ago.
Of the 1,125 billionaires who made last year's ranking, 373 fell off the list -- 355 saw declining fortunes, and 18 died. There are 38 newcomers plus three moguls who returned to the list after regaining their 10-figure fortunes. It is the first time since 2003 that the world has had a net loss in the number of billionaires.
The world's richest are also a lot poorer. The collective net worth of this year's 793 billionaires is $2.4 trillion, down $2 trillion from the total wealth of last year's 1,125 billionaires. The average net worth of those on the list fell 23% to $3 billion. The last time the average was that low was in 2003.
Microsoft's Bill Gates lost $18 billion but regained his title as the world's richest person. Warren Buffett, last year's No. 1, saw his fortune decline $25 billion as shares of Berkshire Hathaway (BRK.A, news, msgs) fell 40% in 12 months, but he still managed to slip just one spot, to No. 2. Mexican telecom titan Carlos Slim Hel¨², No. 2 a year ago, also lost $25 billion and dropped to No. 3.
It was hard to avoid the carnage -- in stocks, in commodities, in real estate, in technology and elsewhere. Even people running profitable businesses were hammered by frozen credit markets, weak consumer spending or declining currencies.
- Re: Who are the world's richest now?posted on 03/12/2009
No. 1: Bill Gates / $40 billion / Microsoft - Re: Who are the world's richest now?posted on 03/12/2009
No. 2: Warren Buffett / $37 billion / Investments
- Re: Who are the world's richest now?posted on 03/12/2009
No. 3: Carlos Slim Hel¨² / $35 billion / Telecoms - Re: Who are the world's richest now?posted on 03/12/2009
No. 4: Lawrence Ellison / $22.5 billion / Oracle - Re: Who are the world's richest now?posted on 03/12/2009
No. 5: Ingvar Kamprad / $22 billion / Ikea
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