Warren Buffett, the Chairman of Berkshire Hathaway Inc., beat out Bill Gates on the annual list of billionaires of Forbes magazine.
Microsoft Corp.'s co-founder didn't manage to stay on the top spot of the list due to Buffett's wealth increase of about $10 billion to $62 billion in the last 12 months. The $10 billion increase came mainly from a gain in the company's shares, Forbes claimed in a statement released few days ago.
On the other hand, Gate's fortune rose by $2 billion reaching $58 billion. The Microsoft chairman, who's now 52 years old, fell to the third position on the worldwide list behind Mexican telecommunications Carlos Slim, 68, who has a net worth of $60 billion.
The list shows how the wealth expands in emerging markets around the world. In particular, Russia overtakes Germany as the 2nd- richest country in terms of billionaires as well as 70% of newcomers from India, Russia, China and the U.S. Also, while in 2006 most of the top 20 billionaires were Americans, this year there were only 4 of them.
It worth noting what Simon Carter- who manages $3 billion at Aegon Asset Management in Edinburgh- said about Buffett: " Warren Buffett is a good example of an extremely smart investor who has managed to stay loyal to his valuation discipline''.
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