Warrent Buffet Lose US 18 billion and Bill Gates lose US 2 trillion

WAH, Rich people also lose money, So who am I not to lose money. Something to motivate myself.

NEW YORK - US tycoons are back on top with Microsoft founder Bill Gates again the world’s richest man in a year when even billionaires felt the heat of the global recession, Forbes magazine said on Wednesday. The wealthy few did not escape big shocks this year, with net worth on the list of 793 billionaires - down from 1,125 billionaires in 2008 - plummeting to US$2.4 trillion (S$3.66 trillion) from US$4.4 trillion, Forbes said.

The annual rich list put Gates back on top with a net worth of US$40 billion, although he saw his bank balance lose US$18 billion over the last 12 months. In second came investor Warren Buffett with US$37 billions, despite losing US$25 billion this year in the value of his Berkshire Hathaway shares.

Also losing US$25 billion, Mexican telecoms king Carlos Slim still managed to come in third with US$35 billion. The US surge sent billionaires from India, Russia and Turkey into retreat. US rich fill 10 of the 20 top spots and New York replaced Moscow as home to most billionaires, with 55 to 27. London comes in second with 28.

Russia, where wealth is closely tied to commodity prices, lost two thirds of its billionaires, down to 32. Two Indians appear in the top 20, but not one from Russia, which had four in the previous year’s list.
New York Mayor Michael Bloomberg was notable as the only top 20 member to see a net gain. That was not because of his salary, which is a symbolic dollar a year, but thanks to re-evaluation of Bloomberg financial news agency after the mayor bought a 20 per cent stake from Merrill Lynch last year for US$4.5 billion. — AFP

Top 20 richest people: Forbes
HERE is a list of the world’s 20 richest people, their wealth, businesses or interests, and countries, according to Forbes magazine’s 2009 list:

1. Bill Gates, US$40 billion. Microsoft, United States.

2. Warren Buffett, US$37 billion. Berkshire Hathaway, United States.

3. Carlos slim and family, US$35 billion. Telecoms, Mexico.

4. Lawrence Ellison, US$22.5 billion. Oracle, United States.

5. Ingvar Kamprad and family. US$22 billion. Ikea. Sweden.

6. Karl Albrecht, US$21.5 billion. Aldi, Germany.

7. Mukesh Ambani, US$19.5 billion. Petrochemicals, India.

8. Lakshmi Mittal, US$19.3 billion. Steel, India.

9. Theo Albrecht, US$18.8 billion. Aldi, Trader Joe’s, Germany.

10. Amancio Ortega, US$18.3 billion. Zara, Spain.

11. Jim Walton, US$17.8 billion. Wal-Mart, United States.

12. Alice Walton, US$17.6 billion. Wal-Mart, United States.

13. Christy Walton and family, US$17.6 billion. Wal-Mart, United States.

14. S. Robson Walton, US$17.6 billion. Wal-Mart, United States.

15. Bernard Arnault, US$16.5 billion. LVMH, France.

16. Li Ka-shing, US$16.2 billion. Diversified, Hong Kong.

17. Michael Bloomberg, US$16 billion. Bloomberg, United States.

18. Stefan Persson, US$14.5 billion. Hennes and Mauritz, Sweden.

19. Charles Koch, US$14 billion. Manufacturing, energy, United States.

20. David Koch, US$14 billion. Manufacturing, energy. United States. — AFP

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