According to Forbes Magazine’s The World’s Billionaires List 2008, the World’s Richest Man is magnanimous investor and Berkshire Hathaway CEO Warren Buffett. His fortune is an estimated $62 billion, up $10 billion from last year.
#1. Warren Buffett
Age: 77
Fortune: self made
Source: Berkshire Hathaway
Net Worth: $62.0 bil
Country Of Citizenship: United States
Industry: Investments
Marital Status: widowed, remarried, 3 children
Warren Buffet soared past friend and bridge partner Bill Gates as shares of Berkshire Hathaway climbed 25% since the middle of last July. Son of Nebraska politician delivered newspapers as a boy. Filed first tax return at age 13, claiming $35 deduction for bicycle. Studied under value investing guru Benjamin Graham at Columbia. Took over textile firm Berkshire Hathaway 1965. Today holding company invested in insurance (Geico, General Re), jewelry (Borsheim’s), utilities (MidAmerican Energy), food (Dairy Queen, See’s Candies). Also has noncontrolling stakes in Anheuser-Busch, Coca-Cola, Wells Fargo. Insurance operations flourished in 2007. Had long promised to give away his fortune posthumously. Irrevocably earmarked the majority of his Berkshire shares to charity in 2006, mostly to the Bill & Melinda Gates Foundation. Gift was valued at $31 billion on day of announcement; donation will far exceed that sum so long as Berkshire shares continue to rise.
#2. Carlos Slim Helu & family
Age: 68
Fortune: self made
Source: telecom
Net Worth: $60.0 bil
Country of Citizenship: Mexico
Industry: Communications
Marital Status: widowed, 6 children
Second-richest man in the world this year, thanks to strong Mexican equities market and the performance of his wireless telephone company, America Movil. The son of a Lebanese immigrant, Slim made his first fortune in 1990 when he bought fixed line operator Telefonos de Mexico (Telmex) in a privatization. In December, America Movil struck a deal with Yahoo to provide mobile Web services to 16 countries in Latin America and the Caribbean. In recent years, he has donated close to $7 billion worth of cash and stock to fund education and health projects, and to the revitalization of Mexico City’s downtown historical district.
#3. William Gates III
Age: 52
Fortune: self made
Source: Microsoft
Net Worth: $58.0 bil
Country of Citizenship: United States
Industry: Software
Marital Status: married, 3 children
Harvard dropout and Microsoft visionary is no longer the world’s richest man. Blame Yahoo: Microsoft shares have fallen 15% since the company boldly attempted to merge with the search engine giant to better fight Google for Internet dominance. Gates is preparing to give up day-to-day involvement in the company he co-founded 33 years ago to spend more time focused on his philanthropic endeavors. Bill & Melinda Gates Foundation has $38.7 billion in assets, donates to causes aimed at bringing financial tools to the poor, speeding up the development of vaccines (for AIDS, malaria, tuberculosis), bettering America’s lagging high schools. Sells 20 million Microsoft shares every quarter, proceeds going to private investment vehicle Cascade; more than half of net worth now outside of Microsoft.
#4. Lakshmi Mittal
Age: 57
Fortune: inherited and growing
Source: steel
Net Worth: $45.0 bil
Country of Citizenship: India
Industry: Manufacturing
Marital Status: married, 2 children
Head of world’s largest steelmaker, $105 billion (sales) ArcelorMittal, which accounts for 10% of all crude steel production. Currently the company’s largest shareholder with 44% stake. Longtime resident of London.
#5. Mukesh Ambani
Age: 50
Fortune: inherited and growing
Source: petrochemicals
Net Worth: $43.0 bil
Country of Citizenship: India
Industry: Manufacturing
Marital Status: married, 3 children
Asia’s richest resident heads petrochemicals giant Reliance Industries, India’s most valuable company by market cap.
#1. Warren Buffett
Age: 77
Fortune: self made
Source: Berkshire Hathaway
Net Worth: $62.0 bil
Country Of Citizenship: United States
Industry: Investments
Marital Status: widowed, remarried, 3 children
Warren Buffet soared past friend and bridge partner Bill Gates as shares of Berkshire Hathaway climbed 25% since the middle of last July. Son of Nebraska politician delivered newspapers as a boy. Filed first tax return at age 13, claiming $35 deduction for bicycle. Studied under value investing guru Benjamin Graham at Columbia. Took over textile firm Berkshire Hathaway 1965. Today holding company invested in insurance (Geico, General Re), jewelry (Borsheim’s), utilities (MidAmerican Energy), food (Dairy Queen, See’s Candies). Also has noncontrolling stakes in Anheuser-Busch, Coca-Cola, Wells Fargo. Insurance operations flourished in 2007. Had long promised to give away his fortune posthumously. Irrevocably earmarked the majority of his Berkshire shares to charity in 2006, mostly to the Bill & Melinda Gates Foundation. Gift was valued at $31 billion on day of announcement; donation will far exceed that sum so long as Berkshire shares continue to rise.
#2. Carlos Slim Helu & family
Age: 68
Fortune: self made
Source: telecom
Net Worth: $60.0 bil
Country of Citizenship: Mexico
Industry: Communications
Marital Status: widowed, 6 children
Second-richest man in the world this year, thanks to strong Mexican equities market and the performance of his wireless telephone company, America Movil. The son of a Lebanese immigrant, Slim made his first fortune in 1990 when he bought fixed line operator Telefonos de Mexico (Telmex) in a privatization. In December, America Movil struck a deal with Yahoo to provide mobile Web services to 16 countries in Latin America and the Caribbean. In recent years, he has donated close to $7 billion worth of cash and stock to fund education and health projects, and to the revitalization of Mexico City’s downtown historical district.
#3. William Gates III
Age: 52
Fortune: self made
Source: Microsoft
Net Worth: $58.0 bil
Country of Citizenship: United States
Industry: Software
Marital Status: married, 3 children
Harvard dropout and Microsoft visionary is no longer the world’s richest man. Blame Yahoo: Microsoft shares have fallen 15% since the company boldly attempted to merge with the search engine giant to better fight Google for Internet dominance. Gates is preparing to give up day-to-day involvement in the company he co-founded 33 years ago to spend more time focused on his philanthropic endeavors. Bill & Melinda Gates Foundation has $38.7 billion in assets, donates to causes aimed at bringing financial tools to the poor, speeding up the development of vaccines (for AIDS, malaria, tuberculosis), bettering America’s lagging high schools. Sells 20 million Microsoft shares every quarter, proceeds going to private investment vehicle Cascade; more than half of net worth now outside of Microsoft.
#4. Lakshmi Mittal
Age: 57
Fortune: inherited and growing
Source: steel
Net Worth: $45.0 bil
Country of Citizenship: India
Industry: Manufacturing
Marital Status: married, 2 children
Head of world’s largest steelmaker, $105 billion (sales) ArcelorMittal, which accounts for 10% of all crude steel production. Currently the company’s largest shareholder with 44% stake. Longtime resident of London.
#5. Mukesh Ambani
Age: 50
Fortune: inherited and growing
Source: petrochemicals
Net Worth: $43.0 bil
Country of Citizenship: India
Industry: Manufacturing
Marital Status: married, 3 children
Asia’s richest resident heads petrochemicals giant Reliance Industries, India’s most valuable company by market cap.
