Tycoons Weekly Update

1: Bill Gates

Bill Gates regained his title as the world’s richest man despite of losing $18 billion in the past 12 months.

Who is not familiar with Microsoft Company and its Success and also the person behind the success? He is William Gates III popularly well known as Bill Gates.He is the chairman and co founder (with Paul Allen) of Microsoft Corporation, the world’s leading computer software company. The company’s success made Gates one of the world’s richest people.

The founder of Microsoft Corp, Bill Gates has regained his spot at the list of the richest man in the world, again. Gates has overtaken investor Warren Buffett, as the global financial meltdown wiped out $2 trillion from the net worth of the world’s billionaires, Forbes Magazine said on Wednesday.

There were 1,125 billionaires in the year 2008 but this year (2009) there are only 793 people rich enough to enroll in the billionaires list and a 29.51% decline from the last year’s total billionaires. The world has become a wealth wasteland. Like the rest of us, the richest people in the world have endured a financial disaster over the past year.

From the last year’s list of 1,125 billionaires, 373 billionaires (Old) fell out of the current year’s list and a 33.16% decline from the last year. Out of 373 billionaires, 355 billionaires decline due to fortunes and 18 billionaires died. There are only 38 new billionaires plus 3 (old) tycoons who returned to the list after regaining their 10-figure fortunes. Since 2003, this is the first time the world has had a net loss in the number of billionaires.

The world richest people are also having gotten poorer. Their collective net worth is declining. This year their collective net worth is $2.4 trillion, decreasing by $2 trillion from the last year. Their average net worth is $3 billion a fell by 23% in comparison to the last year and which is equal to the average wealth of 2003.

World Number one richest man Bill Gates lost $18 billion but regained his previous title as the No.1 richest man. Warren Buffett, last year’s No. 1, lost $25 billion as shares of Berkshire Hathaway fell nearly 50% in 12 months and dropped one steep down to No.2, Mexican telecom titan Carlos Slim Helú also lost $25 billion and dropped one steep down to No. 3.