Third of billionaires lose super-rich status
Third of billionaires lose super-rich status
Thursday 12th March 2009
The global financial crisis has seen 332 people lose their status as dollar billionaires on Forbes magazine's list of the super-rich.In 2008 there were 1,125 billionaires in the world according to Forbes, but now that number has fallen by almost a third.
"These billionaires own companies that employ people like you and me," said Tatiana Serafin, co-editor of Forbes World's Billionaires.
"And if their stocks tank, they will have to lay off people. There is a trickledown effect."
Those that remain on the list, topped by Bill Gates, have seen a 23 per cent reduction in their combined wealth.
Microsoft founder Mr Gates lost £13 billion in the downturn but still tops the list on £29 billion, pushing investor Warren Buffett into second.
The top five is completed by telecoms magnate Carlos Slim of Mexico, Oracle entrepreneur Lawrence Ellison and Ikea founder Ingvar Kamprad.
Also on the diminished list is Mexico's most-wanted man, cocaine baron Joaquin 'Shorty' Guzman. The drugs lord, one of the largest suppliers of cocaine to the United States, has reportedly instigated thousands of deaths since escaping from prison in 2001.
Forbes estimates his fortune at more than $1 billion.
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