RSS FeedWarren Buffet Is Richest Man In World– Bill Gates Slums in Third Place Behind Mexican Telecom Magnate
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Microsoft founder Bill Gates has held the title for nearly two decades, but it is official, Warren Buffet now has more money. In fact, according to Forbes, Mexican telecom tycoon Carlos Slim Helú squeezed past Gates to take the title as second richest man in the world.
Every year Forbes produces a list of the 400 richest people in the world. This year there has been a change in the locations of those fortunes. New York City has held the title for the city with the most billionaires, but this year Moscow has overtaken the Big Apple. There are 74 billionaires in Moscow, and only 71 in New York.
Billionaires can live anywhere they want, but typically they want to live in financial centers. London ranks number three for cities with the most billionaires, followed by Istanbul, Hong Kong, Los Angeles and then Mumbai, India.
Omaha is not considered a financial or banking capital, but it is home to Warren Buffet. His strategy of value investing has paid off and Berkshire Hathaway has increased substantially in value. Buffet is estimated to worth $62 billion, up $10 billion from a year ago.
The second richest man, Carlos Slim Helú has been involved in telecommunication in Mexico and Latin America. His three sons take care of the day-to-day operations of his business. His fortunes have doubled in the past two years and he has a palatial estate in downtown Mexico City.
Although Redmond Washington outside Seattle is home Microsoft, the residence of Bill Gates is Lake Washington in Medina, Washington. His wealth accumulation has suffered since the dot-com bubble busted in 2000, but he has also contributed large sums to charity.
Here are the numbers: Warren Buffet is worth around $62 billion, followed by Carlos Slim Helú who is worth around $60 billion and Bill Gates who is worth a mere $58 billion. Even with his fall from first place, don’t expect to see Gates in the soup-kitchen lines any time soon.
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By Dan Wilson - Best Syndication Writer
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