1 Bill Gates US$40.0 billion
Source: Microsoft
Country: United States
Age: 53
Even after losing $18 billion, Bill Gates still has a net worth of $40 billion. As you might know, Bill Gates is a self-made billionaire, earning his money as an entrepreneur. Gates was one of the early disk operating system pioneers and started a software company with some of his peers. The company became Microsoft. One of the main breaks for Gates was an agreement with IBM for an operating system for $50,000. Since he did not transfer the copyright to IBM, he was able to continue making money of the MS-DOS system as other hardware vendors cloned the system. Gates has been accused of unsavory business practices in the past, and was recently involved in anti-trust proceedings in the European Union, but there is no denying the success of Microsoft. Gates now devotes a great deal of money and time to his philanthropic efforts, through the Bill and Melinda Gates Foundation.
2 Warren Buffet US$37.0 billion
Source: Berkshire Hathaway
Country: United States
Age: 78
One of the most famous investors in the world is Warren Buffett. After losing $25 billion, his net worth now is right around $37 billion. Most of his fortune is self-made, coming as an outgrowth of a textile firm, Berkshire Hathaway. His father was a politician in Omaha, and Buffett delivered newspapers for his first job. (He also took a $35 tax deduction for his bicycle at age 13.) When Buffett bought Berkshire, he spent some years transitioning it to a holding company. Then he began using it to buy other businesses. Buffett is known for his business sense and investing savvy, and his obsession with checking into companies for their sound fundamentals before making a buying decision. Berkshire owns stakes in Geico, Dairy Queen, See’s Candy, Coca-Cola, Wells Fargo and other well-known companies.
3 Carlos Slim Helu US$35.0 billion
Source: Telecom
Country: Mexico
Age: 69
Along with his family, Carlos Slim Helú is the wealthiest man in Latin America. He has $35 billion, even after losing $25 billion. Slim is also a self-made billionaire. He has an interesting history. Even though he lives in Mexico City, he is the son of an immigrant from Lebanon (his father’s original surname was Salim). He studied engineering, and made his money in the telecom industry. He was the leader in a group of investors that bought two telephone companies from the Mexican government in 1990. His diverse holdings include real estate, technology, oil, gas and even a stake in The New York Times Company. He even loaned the company money earlier this year. Slim’s wealth is worth about the same as 2% of the economic output of the entire country of Mexico.
Tuesday, December 1, 2009
World's TOP 5 Billionaires (2009)
Source: Oracle
Country: United States
Age: 64
The man that started software giant Oracle is worth $22.5 billion. Even though he was born in the Bronx, Ellison was adopted and raised by his mother’s aunt and uncle in Chicago’s South Shore neighborhood. Ellison’s adopted father lost his small real estate fortune during the Great Depression. Like Bill Gates, Ellison is a college dropout. He made his money in software design. His database project for the CIA, as part of Ampex Corporation, was called Oracle. He founded his company using only $2,000 of his own, and grew it into one of the industry leaders. However, there have been several tugs of war. But Oracle’s focus on database and server technology has allowed to remain in relatively good shape.
Source: IKEA
Country: Sweden
Age: 83
Most people probably haven’t heard of Swedish entrepreneur Ingvar Kamprad (net worth, $22 billion). But they have probably heard of the brand he is associated with: Ikea. Kamprad is the child of Swedish farmers. One of his first jobs was selling cards, matches, pens and fish from a bicycle. He learned early that he could buy in bulk for cheap, and then mark up prices so that he made a good profit — even while offering good prices to customers. Eventually, he began selling furniture. After learning a bit about it, he opened his own furniture store. He got the name Ikea from his first and last name, the name of the family farm, and the nearest village. His furniture brand is known for its affordability and modern style. Instead of living too lavishly, Kamprad takes economy class when he flies, eats at inexpensive restaurants and furnishes his home mainly with what Ikea has to offer.
Posted by Curtis at 11:38 PM
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