• Most Popular
  • Most Shared

Pictures

Vincent Padois, head tutor at the Pierre and Marie Curie University who teaches robotics and is babysitting the Paris ICub, makes a demonstration with ICub robot, a ?hybrid embodied cognitive system for a humanoid robot" about 1 metre (3.2 feet) high, at the Pierre and Marie Curie University in Paris September 4, 2009. Six versions of ICub exist in laboratories across Europe, where scientists are painstakingly tweaking its electronic brain to make it capable of learning, just like a human child and hoping it will learn how to adapt its behaviour to changing circumstances, offering new insights into the development of human consciousness. REUTERS/Philippe Wojazer

Pictures of the year: Technology

A look at the year's best science and technology photos.   Slideshow 

    Buffett boosts wealth to top Gates on Forbes list

    Michelle Nichols
    NEW YORK
    Fri Oct 10, 2008 2:28pm EDT
    Warren Buffett listens to a question during a news conference in Madrid, May 21, 2008. REUTERS/Andrea Comas

    NEW YORK (Reuters) - Billionaire investor Warren Buffett is again the richest American, deposing Microsoft co-founder Bill Gates, after Forbes magazine recalculated the fortunes of some of the 400 wealthiest Americans.

    Lifestyle  |  Media

    The magazine took another look at the fortunes of some of the billionaires on its Forbes 400 list to assess the effect of the worst financial crisis since the 1930s Depression and released a select list naming some of those hit hard.

    But while 17 billionaires on Forbes list lost more than $1 billion in the past month, Buffett managed to boost his wealth by $8 billion to $58 billion, pushing him ahead of Gates, whose fortune fell to $55.5 billion from $57 billion.

    Gates had been ranked No. 1 on the Forbes 400 list for the past 15 years with his Microsoft fortune.

    Buffett made his money by building his company Berkshire Hathaway Inc into a $199 billion conglomerate that invests in undervalued companies with strong management. Late last month his company said it would invest $5 billion in Goldman Sachs Group Inc.

    "We chose to focus on some of the more high-profile billionaires on The Forbes 400, and print a sampling of those who lost over $1 billion during the month of September," said Forbes senior editor Matthew Miller.

    The initial list, released on September 17, was calculated using publicly traded stock prices on August 29, while the revised fortunes of some billionaires uses October 1 prices.

    Third place Oracle Corp founder Lawrence Ellison, saw his estimated $27 billion fortune drop to $25.4 billion, but he did not appear to lose his position.

    When the list was released last month, four members of the Walton family, descendants of Wal-Mart Stores Inc founder Sam Walton, held positions 4 through 7, each with fortunes of about $23 billion.

    New York City Mayor Michael Bloomberg was at No. 8 with a fortune estimated at $20 billion from his news and financial data empire, while brothers Charles and David Koch rounded out the top 10 with fortunes of $19 billion each from their manufacturing and energy company Koch Industries.

    Forbes did not say whether any of those positions had changed.

    Of the billionaires whose fortunes were revised by Forbes, casino magnate Sheldon Adelson was hit hardest by the economic turmoil with his fortune dropping $4 billion to $11 billion, and Charles Ergen, chairman of satellite broadcaster EchoStar, lost $2.2 billion and is now said to be worth $5.9 billion.

    A list of some of the recalculated fortunes is available here

    (Additional reporting by Ajay Kamalakaran in Bangalore, editing by Will Waterman and Vicki Allen)
    Lifestyle
    Media


    More from Reuters

    Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

    Pictures of the Year

    A look at the best photos of 2009.  Slideshow 

      PICTURES
      The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

      What a wacky year it's been...

      Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

      Oddly Enough
      A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
      Political Risk in 2010:

      Don't say we didn't warn you

      With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

      Global Markets