Buffet Unseats Gates as Richest Man on Earth

He's worth $62B; Gates is now third with $58B.

By Zach Samalin,  Newser Staff

Posted Mar 5, 2008 7:44 PM CST

(Newser) – Bill Gates has passed the gilded torch: Warren Buffett and Mexican telecom mogul Carlos Slim have ended the Microsoft founder's 13-year reign as richest man on earth, Forbes reports. Buffett's fortune grew $10 billion this year to $62 billion, while Slim weighs in with an estimated $60 billion. Gates trails with a piddling $58 billion.

Gates' total increased $2 billion since last year; that growth, however, was stymied by Microsoft's recent $45 billion bid to purchase Yahoo, which hurt the software company's share price. Buffett's Berkshire Hathaway spiked to $150,000 a share in December, before leveling out at $137,000 this week. Buffett has reserved a majority of his fortune for the Bill and Melinda Gates foundation, after his death.

Billionaire investor Warren Buffett speaks in New York in this June 26, 2007 file photo. With an estimated valued of $62 billion, Buffett is now the richest man on earth. (AP Photo/ Louis Lanzano, file)
Billionaire investor Warren Buffett speaks in New York in this June 26, 2007 file photo. With an estimated valued of $62 billion, Buffett is now the richest man on earth. (AP Photo/ Louis Lanzano, file)   (Associated Press)
Microsoft Chairman Bill Gates speaks at Memorial Auditorium at Stanford University in Stanford, Calif., Tuesday, Feb. 19, 2008. Valued at $58 billion, Gates is now only the third richest man in the world. (AP Photo/Jeff Chiu)
Microsoft Chairman Bill Gates speaks at Memorial Auditorium at Stanford University in Stanford, Calif., Tuesday, Feb. 19, 2008. Valued at $58 billion, Gates is now only the third richest man in the world....   (Associated Press)
Mexican telecommunications billionaire Carlos Slim, speaks during a press conference prior to a meeting with Brazil's President Luiz Inacio Lula da Silva, at the Presidential Palace, in Brasilia, Wednesday, Oct. 24, 2007. Valued at roughly $60 billion, Slim occupies the number two seat among the world's richest people. (AP Photo/Eraldo...
Mexican telecommunications billionaire Carlos Slim, speaks during a press conference prior to a meeting with Brazil's President Luiz Inacio Lula da Silva, at the Presidential Palace, in Brasilia, Wednesday,...   (Associated Press)
Berkshire Hathaway CEO Warren Buffett testifies on Capitol Hill in Washington, Wednesday, Nov. 14, 2007, about the federal estate tax. He is officially the richest man in the world. (AP Photo/Dennis Cook)
Berkshire Hathaway CEO Warren Buffett testifies on Capitol Hill in Washington, Wednesday, Nov. 14, 2007, about the federal estate tax. He is officially the richest man in the world. (AP Photo/Dennis Cook)   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.

NEWS FROM OUR PARTNERS
Other Sites We Like:   The Street   |   HitFix   |   PopSugar Tech   |   RealClear   |   24/7 Wall St.   |   CollegeHumor   |   Barstool Sports   |   OK!