Light does not shine in light

The world’s new richest man

Legendary US investor Warren Buffett has overtaken his friend and sometime bridge partner Bill Gates as the world’s richest individual, with a fortune of $62bn, despite giving away a large chunk of his fortune to charity. The Nebraska-based investor has topped Forbes magazine’s annual ranking of the world’s billionaires, ending a 13-year reign for Gates, who drops to third place with $58bn. Narrowly pipping the Microsoft founder into second place is the Mexican telecoms magnate Carlos Slim, who has seen his fortune double in the past two years to $60bn.

Britain‘s richest resident, Lakshmi Mittal, comes in fourth, while the youngest billionaire is 23-year-old Facebook founder Mark Zuckerberg, who is worth $1.5bn.

Buffett’s rise to number one is particularly interesting, Forbes notes, because it comes at a time of global financial turmoil and as he starts to give away part of his fortune to charity. In 2006 Buffett, the head of Berkshire Hathaway Inc, announced plans to donate 85 per cent of his money to the Bill & Melinda Gates Foundation and four family charities.

However, the man known as the Sage of Omaha also saw his fortune grow by $10bn to $62bn last year by taking advantage of depressed stock markets. “Even though he is giving away a piece of his fortune each year, the stock of Berkshire Hathaway, the source of Warren Buffet’s wealth, has been rising very rapidly,” said Forbes magazine chief executive Steve Forbes.

Any celebration by the world’s newest richest man is likely to be low-key, as Buffett is famed for his frugality. In 2006 the billionaire who enjoys Cherry Coke and hamburgers celebrated his wedding to his longtime partner Astrid Menks with a fish supper at US seafood chain Bonefish Grill. The bride sported a discount wedding ring from Buffett’s jewellery company. “Buffett’s still living in the same house he bought when he was 28 for $31,000,” said his biographer Robert Miles.

GUYS, INDIANS OCCUPY 4 POSITIONS IN THE FIRST 10 RICHEST MEN IN THE WORLD.

WHAT ARE WE DOING IN NIERIA?

WHO IS GOING TO BE THE FIRST NIGERIAN BILLIONAIRE?

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9 comments

  1. akinyemiabiola /

    like boys II men i find myself singing “i will get there”

  2. keep your eyes open man… cos i’m coming

  3. Yinka Adeyemi /

    Busayo
    I am very impressed with your site, the layout, contents and overall professionalism. It is excellent. Keep it up.

    If you re-read the full article at forbes.com, you would at number 334, a certain Aliko Dangote. The relevant links is below:
    Aliko Dangote – No 334 S3.3 Billion

    http://www.forbes.com/lists/2008/10/billionaires08_The-Worlds-Billionaires_Rank_14.html

    http://www.forbes.com/lists/2008/10/billionaires08_Aliko-Dangote_64RI.html

    Other entries that might interest you are:

    Opral Winfrey – No 462 $2.5 Billion http://www.forbes.com/lists/2008/10/billionaires08_Oprah-Winfrey_O0ZT.html

    Richard Branson No 236 $4.4 Billion
    http://www.forbes.com/lists/2008/10/billionaires08_Richard-Branson_2Y7I.html

    Full List
    http://www.forbes.com/lists/2008/10/billionaires08_The-Worlds-Billionaires_Rank.html

    Cut off wealth Zong Qinghou (China) worth only $1.0 Billion

    Cheers,

    Yinka

  4. Yinka Adeyemi /

    Busayo
    I am very impressed with your site, the layout, contents and overall professionalism. It is excellent. Keep it up.

    If you re-read the full article at forbes.com, you would find at number 334, a certain Aliko Dangote. The relevant links is below:
    Aliko Dangote – No 334 S3.3 Billion

    http://www.forbes.com/lists/2008/10/billionaires08_The-Worlds-Billionaires_Rank_14.html

    http://www.forbes.com/lists/2008/10/billionaires08_Aliko-Dangote_64RI.html

    Other entries that might interest you are:

    Opral Winfrey – No 462 $2.5 Billion http://www.forbes.com/lists/2008/10/billionaires08_Oprah-Winfrey_O0ZT.html

    Richard Branson No 236 $4.4 Billion
    http://www.forbes.com/lists/2008/10/billionaires08_Richard-Branson_2Y7I.html

    Full List
    http://www.forbes.com/lists/2008/10/billionaires08_The-Worlds-Billionaires_Rank.html

    Cut off wealth Zong Qinghou (China) worth only $1.0 Billion

    Cheers,

    Yinka

  5. It’s amazing. I like it. Sounds good to me, even though I can’t agree with everything< that is written here

  6. Don’t know what to say. At first it looked good but now I’m very disappointed in this kind of information

  7. adediji olajyde /

    you know what this iskinda funny,nut a real serious issue, I feel we’ve been really affected by a bad mentality “poverty”. to we the tomorrow of nigeria we’ve gotta make a real impact. this means taking big risks. Remember there’s no short way upthere. If take a short cut, you would be cut short.

  8. found your site on del.icio.us today and really liked it.. i bookmarked it and will be back to check it out some more later ..

  9. dbabzy /

    nice one.we young gen. will get dere.naija go change,its a mata of tym

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