Thursday, March 6, 2008

Yahoo! Bid Cost Bill Gates "World's Richest" Title

Forbes Magazine is out with the world's billioners list once again and one noted "loser" is Microsoft's Bill Gates. Gates is no longer the world's richest man.
That title belongs to America's most beloved investor Warren Buffet. He is now worth a whopping $62 billion, up $10 billion from last year.

According to Forbes, Gates is now worth $58 billion and is ranked third in the world.

He is up just $2 billion from a year ago but would have been perhaps as rich or richer than Buffett had Microsoft not made an unsolicited bid for Yahoo! at the beginning of February.

Microsoft shares fell 15% between Jan. 31, the day before the company announced its bid for the search engine giant, and Feb. 11, the day Forbes checked its stock prices for the 2008 World's Billionaires list.

So the Yahoo! bid cost him the title, which he been holding for last 13 years.

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