UK Money News
6th March 2008
Insurance whizz tops Forbes rich list'
Bill Gates is no longer the world's richest man according to Forbes magazine's annual survey.
The billionaire philanthropist has fallen to third on the list behind the Mexican telecoms guru Carlos Slim Helu, who is worth $60 billion and number one on the list, Bill Gates' friend Warren Buffett.
Mr Buffett's shrewd investments and his position as chief executive and chairman of Berkshire Hathaway has seen him add a further $10 billion this year to boost his total standing to $62 billion.
Decades of sounds moves in the stock market and his current holdings in the insurance, jewellery and retail industries have given him his vast wealth.
However, it is unlikely that his success in rising to top spot will be of any concern to Mr Gates.
The investor has already pledged to hand over a majority holding in shares in his investment vehicle to the Bill & Melinda Gates Foundation, with the value of this donation put at a staggering $32 billion.
Elsewhere, the celebrity list was topped by Oprah Winfrey who took home more than $260 million last year, while golf star Tiger Woods became the first athlete to earn $100 million in a year.
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