Feeds

Gates dethroned as tech's richest get thumped

Larry Ellison searches sofa for change

Intelligent flash storage arrays

It seems that tech's billionaires are sharing the privations of ordinary citizens, whose savings are vanishing and pensions becoming worthless as stock markets tumble.

Bill Gates' 15-year reign as America's richest person is reportedly over, as the value of his investments has shrunk, surrendering his crown to investor Warren Buffett.

Gates, who amassed his fortune on Windows with Microsoft, has seen his net worth fall by $2.5bn to $55bn in four weeks while Buffett, who made his cash pile by investing in a broad portfolio with his Berkshire Hathaway baby, soared $8bn to $58bn, according to a revised Forbes rich list.

America's third richest person, and tech's best remunerated chief executive, has also taken a thumping but still holds on to his number-three slot. Larry Ellison is now worth $25.4bn, down from $27bn in the middle of September.

Forbes produces a list of the richest 400 Americans each year and 2008 was no exception. When the annual list was revealed on September 17, there was little change in the established hierarchy of the fabulously wealthy.

The publication, though, decided to revisit the list in the wake of what could be the biggest crisis to hit investors of all sizes since the Wall Street crash of 1929. The annual list was calculated using publicly traded stock prices of August 29, while the updated list used stock prices from October 1.

Given that markets have fallen further since October 1, Gates, Ellison, and possibly even the shrewd Buffett are probably worth even less today. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.