Even billionaires are getting slammed by the global economic crisis. Forbes Magazine found only 793 billionaires for its annual list of the world’s richest people. This represents a drop of 30 percent from last year and the first decline since 2003.
The total net worth of people on the magazine’s “Richest List” fell 46 percent to $2.4 trillion. The average billionaire is now worth only $3 billion, 23 percent less than last year.
Despite losing $18 billion in wealth, Microsoft co-founder Bill Gates regained the title of world’s richest man with a net worth of $40 billion. Warren Buffett is #2 with $37 billion.
Article published on March 12, 2009
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