Warren Buffet is no longer the richest person in the world

[gregdavidson]

I guess Bill Gates finally gets to reclaim his status of being the richest person in the world with a net worth of $40 Billion. Warren Buffet comes in second at $37 Billion. With the markets going the way they are right now I wouldn't be surprised if Bill Gates comes in second or third a few months from now. When most of your net worth relies on stock then anything could happen. I wonder how much these guys would be worth if they cashed in on their stock and paid their capital gains tax. I'm guessing less than half of what they're worth now.

[Gene]

Sweet. I like Bill Gates better anyway. haha Where did you read this?

[ScottPalmer]

I just listened to the story on ABC news a few minutes ago.The race for first place this year wasn't due to who made the most money, it was who lost the least. Bill Gates lost about $18B while Buffet lost $25B.

[Dmoore323]

Yea I heard Buffet lost about 5% of Berkshire Hathaway in the last quarter.

[PPC Freelancer]

Warren is way up there

[pwacker]

I saw on huffingtonpost.com that Buffet lost 25 billion

[financeblogger123]

Warren Buffet is notorious for establishing himself in economic downturns to capitalize in the upturn. This is how he originally made his BIG money, by capitalizing on the economic downturn of the 1970's. Unfortuntely, and I hope that it isn't so, he may not be around to reap all of the rewards of the purchases that were made within the past year. But where there is bad you can also find good, which might be lucky for the Bill and Melinda Gates foundation.

[awayoflife]

Warren Buffet is notorious for establishing himself in economic downturns to capitalize in the upturn. This is how he originally made his BIG money, by capitalizing on the economic downturn of the 1970's. Unfortuntely, and I hope that it isn't so, he may not be around to reap all of the rewards of the purchases that were made within the past year. But where there is bad you can also find good, which might be lucky for the Bill and Melinda Gates foundation.

Good post. I hope that he will be here to fully capitalize from the upturn, I always prefered him

[financeblogger123]

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[awayoflife]

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[financeblogger123]

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[Chilly]

Here is a good link that shows how they all lost a bit of money and the rankings of the richest people: The World's Billionaires - Forbes.com

[mthomas]

I'm pretty sure he will pick up the top spot as the economy improves. Stock prices in general are depressed, so it comes to little surprise that Buffet lost a lot of his personal wealth.

Luckily for him, he generally picks stocks he feels is very safe and has sustainable business models with little leverage. Therefore, chances are the losses he has incurred is due soley to pessimism in stock prices and lower revenue due to the economic environment. As the market begins to rebound, the value of his assets should begin to rise again.