June 22, 2001. Copyright 2001. Graphic News. All rights reserved.

Bill-ionaire Gates still tops worldÕs richest

LONDON, June 22, Graphic News: The new economy may have slumped, but Microsoft co-founder Bill Gates is still the richest man on the planet, according to Forbes MagazineÕs list of the world's richest people.

The bursting of the Internet bubble knocked a number of billionaires down a peg or two, or off the list entirely. Nevertheless Gates -- with a net worth of $58.7 billion, down some 7% from last yearÕs $60 billion -- easily retained his No. 1 position.

MicrosoftÕs Paul Allen slipped behind stock market guru Warren Buffett to third place, after the net worth of the ÒOracle of OmahaÓ increased $4 billion, to $32.3 billion. Allen, who was tied with Buffett for third place last year, had $30.4 billion, according to the list.

Gates arch rival Larry Ellison, the other Oracle in the top ten richest, saw his fortune halved to just $26bn.

German retailers Theo and Karl Albrecht had the fifth spot and Prince Al-waleed Bin Talal, a global investor from Saudi Arabia, came in sixth.

Five members of AmericaÕs Walton family -- recipients of the Wal-Mart fortune -- also appear in the top ten, sharing a total of $93.1bn.

Forbes counted a record number of billionaires -- 538 people -- with an average net worth of $3.2bn and an average age of 62.

The stock market shakeout over the past year hurt several on the list. ÒCall it the worldwide humbling of the billionaires,Ó the magazine said.

For example, the net worth of Japanese software magnate Masayoshi Son, founder of Softbank, dropped from $19.4 billion to $5.6 billion, putting him in 55th place. Last year he was eighth. Amazon.comÕs Jeff Bezos saw his net worth fall from $6.1 billion to $2 billion, still good enough for a tie for 234.

The Forbes WorldÕs Billionaire ranking also shows that just 7% of its 538 members are women. The richest women, Alice and Helen Walton, descendants of Sam Walton, the founder of Wal-Mart, weighed in with $18.5bn each.

The wealthiest woman outside the U.S. is Johanna Quandt of Germany with $17.8 billion. Her family runs the BMW automobile empire. 

The wealthiest woman in Asia is Hong KongÕs Nina Wang, a real estate mogul, and the richest woman in Mexico is Modelo beer heiress Maria Aramburuzabala. 

The rankings, which appear in the July 9 issue of Forbes, was set using share prices and exchange rates as of May 21.
/ENDS
Sources: Associated Press, Forbes Magazine