Buffett Now Richest In The World, According to Forbes

Choleric · 03-06-2008, 02:01 AM

Warren Buffett is giving his money away, but that didn't stop him from becoming today's richest man in the world.

He topped Forbes magazine's latest list of the world's wealthiest people, because although he donates 5 percent of his wealth each year, his fortune grew by 25 percent over the past eight months.

Forbes used Feb. 11 as the cutoff day for this year's list, placing Buffett's ownership of Berkshire Hathaway Inc. stock at $62 billion, a $10 billion gain from a year ago.

In 2005, Buffett said he would give most of his wealth to charity, a pledge that was worth $37 billion at the time. The amount of the pledge grows as Berkshire stock grows. Last year, his donations totaled $2.12 billion.

The money goes to foundations headed by his children and to the foundation of the No. 3 man on Forbes' latest list, Microsoft founder Bill Gates, with $58 billion.

Gates had held Forbes' No. 1 title for 13 years, and while his wealth grew over the past year it was no match for Buffett and Mexican telecommunications executive Carlos Slim Helú, No. 2 at $60 billion.

Berkshire, Buffett's Omaha-based investment company, hit a record $150,000 a share in December, and while it's down to $137,100 now, that's still a 25 percent rise from mid-July to Feb. 11, Forbes noted.

Microsoft's price fell last month after the company announced it planned to buy Yahoo, trimming Gates' holdings. But Gates has other investments, including more than $2.5 billion in Berkshire. Gates is a director of Buffett's company, and the two are friends.

Buffett has been asked why he is so much more successful at investing than other knowledgeable people. While he regularly discusses investing errors he has made, he says that he waits for an obvious "home run" with virtually no risk before taking a swing.

But when he decides, he makes a big investment rather than a cautious one. He also has said that his wealth can be seen as a matter of coincidence, of being born at the exact place and time when his abilities are rewarded.

In his latest letter to shareholders, Buffett said he and Berkshire Vice Chairman Charlie Munger "came equipped with a 'business' gene that allows us to prosper in a manner hugely disproportionate to that experienced by many people who contribute as much or more to our society's well-being."

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Rank Name Citizenship Age NetWorth($bil) Country
1 Warren Buffett United States 77 62.0 United States
2 Carlos Slim Helu & family Mexico 68 60.0 Mexico
3 William Gates III United States 52 58.0 United States
4 Lakshmi Mittal India 57 45.0 United Kingdom
5 Mukesh Ambani India 50 43.0 India
6 Anil Ambani India 48 42.0 India
7 Ingvar Kamprad & family Sweden 81 31.0 Switzerland
8 KP Singh India 76 30.0 India
9 Oleg Deripaska Russia 40 28.0 Russia
10 Karl Albrecht Germany 88 27.0 Germany
11 Li Ka-shing Hong Kong 79 26.5 Hong Kong
12 Sheldon Adelson United States 74 26.0 United States
13 Bernard Arnault France 59 25.5 France
14 Lawrence Ellison United States 63 25.0 United States
15 Roman Abramovich Russia 41 23.5 Russia
16 Theo Albrecht Germany 85 23.0 Germany
17 Liliane Bettencourt France 85 22.9 France
18 Alexei Mordashov Russia 42 21.2 Russia
19 Prince Alwaleed Bin Talal Alsaud Saudi Arabia 51 21.0 Saudi Arabia
20 Mikhail Fridman Russia 43 20.8 Russia
21 Vladimir Lisin Russia 51 20.3 Russia
22 Amancio Ortega Spain 72 20.2 Spain
23 Raymond, Thomas & Walter Kwok Hong Kong NA 19.9 Hong Kong
24 Mikhail Prokhorov Russia 42 19.5 Russia
25 Vladimir Potanin Russia 47 19.3 Russia

The Emperor · 03-06-2008, 03:56 AM

The guy on the 4th place:

Alx · 03-06-2008, 08:18 AM

my boy!!!!

Harry Plopper · 03-06-2008, 09:41 AM

Quote:

Originally Posted by Jeff

Warren Buffett is giving his money away, but that didn't stop him from becoming today's richest man in the world.

He topped Forbes magazine's latest list of the world's wealthiest people, because although he donates 5 percent of his wealth each year, his fortune grew by 25 percent over the past eight months.

I'll write to him & asked him to donate some of his money to me.

If he really wants to share his wealth & happiness ... why not sharing them with me.

Mr. Buffet, I only need a two millions (1 million is not enough since Euro : Dolllar exchange rate

).

2 millions out of 67 billions is only 0.0032% ... That's almost nothing.

Choleric · 03-06-2008, 01:02 PM

I went to high school and grew up with his grandson Michael. Buffett is actually really tight with his money, he didn't just hand out money to his daughter(Susan, who drives a BMW 6er convertible BTW) thats not to say they are not well off though. The house I grew up in and my parents live in is about two blocks from Mr. Buffett's his daughter lives a block away.

GrimReaper · 03-07-2008, 06:24 AM

Quote:

Originally Posted by The Emperor

The guy on the 4th place:

Heh, any reason why you hate him that much?
I have my own reasons but I'm still happy that India now has 4 people on the top ten list!!!

shonguiz · 03-07-2008, 08:30 AM

If i remember right Tyc works for a steel compagny.

Alfie · 03-07-2008, 09:31 AM

Why's Gates called Bill when his real name is William?

Mikael · 03-07-2008, 09:38 AM

Quote:

Originally Posted by Alfie

Why's Gates called Bill when his real name is William?

Because it's a common nickname for William.

Bill Clinton's real name is William Jefferson Clinton. Jack is similar case as it is a common nickname for John.

Alfie · 03-07-2008, 10:53 AM

That was new to me actually.

Will, or Willy I'd understand but this was actually new.

03-06-2008, 02:01 AM	#1 (permalink)
Choleric Justice Join Date: Oct 2005 Location: Great Plains Posts: 3,406 My Mood: Thanks: 564 Thanked 1,135 Times in 615 Posts	Buffett Now Richest In The World, According to Forbes Warren Buffett is giving his money away, but that didn't stop him from becoming today's richest man in the world. He topped Forbes magazine's latest list of the world's wealthiest people, because although he donates 5 percent of his wealth each year, his fortune grew by 25 percent over the past eight months. Forbes used Feb. 11 as the cutoff day for this year's list, placing Buffett's ownership of Berkshire Hathaway Inc. stock at $62 billion, a $10 billion gain from a year ago. In 2005, Buffett said he would give most of his wealth to charity, a pledge that was worth $37 billion at the time. The amount of the pledge grows as Berkshire stock grows. Last year, his donations totaled $2.12 billion. The money goes to foundations headed by his children and to the foundation of the No. 3 man on Forbes' latest list, Microsoft founder Bill Gates, with $58 billion. Gates had held Forbes' No. 1 title for 13 years, and while his wealth grew over the past year it was no match for Buffett and Mexican telecommunications executive Carlos Slim Helú, No. 2 at $60 billion. Berkshire, Buffett's Omaha-based investment company, hit a record $150,000 a share in December, and while it's down to $137,100 now, that's still a 25 percent rise from mid-July to Feb. 11, Forbes noted. Microsoft's price fell last month after the company announced it planned to buy Yahoo, trimming Gates' holdings. But Gates has other investments, including more than $2.5 billion in Berkshire. Gates is a director of Buffett's company, and the two are friends. Buffett has been asked why he is so much more successful at investing than other knowledgeable people. While he regularly discusses investing errors he has made, he says that he waits for an obvious "home run" with virtually no risk before taking a swing. But when he decides, he makes a big investment rather than a cautious one. He also has said that his wealth can be seen as a matter of coincidence, of being born at the exact place and time when his abilities are rewarded. In his latest letter to shareholders, Buffett said he and Berkshire Vice Chairman Charlie Munger "came equipped with a 'business' gene that allows us to prosper in a manner hugely disproportionate to that experienced by many people who contribute as much or more to our society's well-being." - ONLY REGISTERED AND ACTIVATED USERS CAN SEE ALL LINKS - CLICK HERE TO REGISTER Complete List: - ONLY REGISTERED AND ACTIVATED USERS CAN SEE ALL LINKS - CLICK HERE TO REGISTER Rank Name Citizenship Age NetWorth($bil) Country 1 Warren Buffett United States 77 62.0 United States 2 Carlos Slim Helu & family Mexico 68 60.0 Mexico 3 William Gates III United States 52 58.0 United States 4 Lakshmi Mittal India 57 45.0 United Kingdom 5 Mukesh Ambani India 50 43.0 India 6 Anil Ambani India 48 42.0 India 7 Ingvar Kamprad & family Sweden 81 31.0 Switzerland 8 KP Singh India 76 30.0 India 9 Oleg Deripaska Russia 40 28.0 Russia 10 Karl Albrecht Germany 88 27.0 Germany 11 Li Ka-shing Hong Kong 79 26.5 Hong Kong 12 Sheldon Adelson United States 74 26.0 United States 13 Bernard Arnault France 59 25.5 France 14 Lawrence Ellison United States 63 25.0 United States 15 Roman Abramovich Russia 41 23.5 Russia 16 Theo Albrecht Germany 85 23.0 Germany 17 Liliane Bettencourt France 85 22.9 France 18 Alexei Mordashov Russia 42 21.2 Russia 19 Prince Alwaleed Bin Talal Alsaud Saudi Arabia 51 21.0 Saudi Arabia 20 Mikhail Fridman Russia 43 20.8 Russia 21 Vladimir Lisin Russia 51 20.3 Russia 22 Amancio Ortega Spain 72 20.2 Spain 23 Raymond, Thomas & Walter Kwok Hong Kong NA 19.9 Hong Kong 24 Mikhail Prokhorov Russia 42 19.5 Russia 25 Vladimir Potanin Russia 47 19.3 Russia Last edited by Choleric; 03-07-2008 at 08:42 AM.

03-06-2008, 03:56 AM	#2 (permalink)
The Emperor Bionic Jive Join Date: Sep 2005 Location: Where noone has gone before... Posts: 9,149 My Mood: Thanks: 1,413 Thanked 1,575 Times in 954 Posts	Re: Buffett Now Richest In The World, According to Forbes The guy on the 4th place:

03-06-2008, 08:18 AM	#3 (permalink)
Alx 007 Join Date: Sep 2005 Location: -Poconos, PA.- 2005 Aston Martin DB9 Posts: 5,458 My Mood: Thanks: 886 Thanked 551 Times in 224 Posts	Re: Buffett Now Richest In The World, According to Forbes my boy!!!!

03-06-2008, 01:02 PM	#5 (permalink)
Choleric Justice Join Date: Oct 2005 Location: Great Plains Posts: 3,406 My Mood: Thanks: 564 Thanked 1,135 Times in 615 Posts	Re: Buffett Now Richest In The World, According to Forbes I went to high school and grew up with his grandson Michael. Buffett is actually really tight with his money, he didn't just hand out money to his daughter(Susan, who drives a BMW 6er convertible BTW) thats not to say they are not well off though. The house I grew up in and my parents live in is about two blocks from Mr. Buffett's his daughter lives a block away.

03-07-2008, 08:30 AM	#7 (permalink)
shonguiz Fanatic Join Date: Sep 2005 Posts: 1,469 Thanks: 179 Thanked 293 Times in 176 Posts	Re: Buffett Now Richest In The World, According to Forbes If i remember right Tyc works for a steel compagny.

03-07-2008, 09:31 AM	#8 (permalink)
Alfie Aficionado Join Date: Dec 2005 Location: La Svezia! Posts: 4,855 My Mood: Thanks: 833 Thanked 866 Times in 525 Posts	Re: Buffett Now Richest In The World, According to Forbes Why's Gates called Bill when his real name is William?

03-07-2008, 10:53 AM	#10 (permalink)
Alfie Aficionado Join Date: Dec 2005 Location: La Svezia! Posts: 4,855 My Mood: Thanks: 833 Thanked 866 Times in 525 Posts	Re: Buffett Now Richest In The World, According to Forbes That was new to me actually. Will, or Willy I'd understand but this was actually new.

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