Forbes magazine said: even billionaires felt the heat of global recession. They did not escape big stocks this year from the list of 793 billionaires - down from 1,125 billionaires in 2008. The much awaited list:
1 Gates net worth: $40B losing 18B software/microsoft
2 Warren Buffett : $37B losing 15B investment
3 King Carlos: $35B losing 25B Mexican telecom
Be aware, the US surge sent billionaires from India, Russia and Turkey into retreat. Russia where wealth is closely tied to commodity prices, lost almost 2/3 of it's billionaires down from 87 to 32. Russian oligarch have long been famous for flaunting their wealth, but this year nome of them make it into the elite top 20 compared to 4 in 2008 list. 2 Indians appear in top 20 notably steel magnate Lakshmi Mittal with just $19.3B after losing $25.7B over last year.
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