World's Richest Man

Being rich is something really great happened in anyone life.As we all know for the past 13 straight years, Forbes have listed Bill Gates as the richest American and world's richest man.However, that is going to change now.The new world's richest American goes to Warren Buffet the most popular and successful American investor, businessman, and philanthropist. Officially Warren Buffett is the richest man on the planet.

Riding the surging price of Berkshire Hathaway (nyse: BRK - news - people ) stock, America's most beloved investor has seen his fortune swell to an estimated $62 billion, up $10 billion from a year ago.





Shockingly, a Mexican telecom tycoon Carlos Slim Helú is the world's second-richest man, with an estimated net worth of $60 billion. His fortune has risen $11 billion since last March.

Gates currently worth $58 billion and is ranked third in the world right behind Carlos Slim Helú. He is up $2 billion from a year ago, but would been perhaps richer or as rich as Warren Buffett if Microsoft did not made bid for Yahoo! (nasdaq: YHOO - news - people ) at the beginning of February this year.

World's Richest Man race seems extremely competitive in recent months. Class A shares of Berkshire Hathaway soared 25% between the middle of July and the day we priced our list. The stock hit an all-time high of $150,000 a share in December. At that time, Buffett was worth roughly about $65 billion.

For the record, Berkshire Hathaway shares closed at $137,100 per share on Tuesday, down 2% since the announcement last Friday that the company's net earnings fell 18% in the fourth quarter of last year.That was really amazing.

At the same time,Gates' fortune also swelled massively last fall. Microsoft shares jumped 30% between late October and early November to $37 a share, only to fall after the company announced its intentions to buy Yahoo! for $45 billion on Feb. 1.

What do Warren Buffet and Berkshire actually do?

Berkshire is invested in insurance (GEICO, General Re), jewelry (Borsheim's), utilities (MidAmerican Energy Holdings and food (Dairy Queen, See's Candies). It also has non-controlling stakes in Anheuser-Busch , Coca-Cola (nyse: KO - news - people ) and Wells Fargo (nyse: WFC - news - people ). Recently, the company disclosed it owns a significant stake in Kraft Foods.
The company also purchased a 60% stake in the Pritzker family's manufacturing and services group, Marmon Holdings, for $4.5 billion. The privately held Marmon owns businesses across wire and cable, transportation services and industrial products.

Source story :Forbes

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