Who are the richest men in the world (in 2007-08)?

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Who are the uber-rich, the multi-billionares? Who topped the list of the world’s wealthiest people in the world in 2007-08?

Forbes Magazine releases an annual list of the world’s wealthiest men. They released the list for the year 2008, on March 5, 2008.

Forbes is an American national business magazine. The net wealth of each person is not only the cash and solid assets, but instead an estimated measure (U.S dollars) , based on the stock prices of the person’s company and exchange rates on 11 February 2008.

What does this mean?

The US$ 50 billion+ that you see as the net worth of many billionares is not actually solid cash and assets in hand. More often than not, the billionares’ wealth includes stock price and valuations, which can change frequently. This is why Mukesh Ambani became the richest person overnight during the boom of the Indian stock market, and fell from the top spot when the price of stock of his companies fell.

Who are the richest people?

Mark Zuckerberg

The youngest billionare is 23 year-old Mark Zuckerberg, valued at US$1.5 billion (pictured left).

Forbes released their annual list, and there have been many changes. The biggest surprise is the change of the top spot. Bill Gates moved down to #3, Carlos Slim Helu dropped to #2, and Warren Buffet moved up to #1. Out of the top 10, a record 4 billionares are Indians – larger than even U.S. This shows that India is becoming a bed of roses for billionares too.

Warren Buffet – richest man

Without further delay, here are the list of top 10 men.

1. Warren Buffett– $62.0 billion (U.S)
Warren Buffet(pictured right) is an American investor, who owns Berkshire Hathaway, is the richest man at the age of 77.

2. Carlos Slim Helú – $60.0 billion (Mexico)
Carlos Slim Helu, who made waves last year by being #1 on the list for a short-time, is now at #2. He owns Telmex and America Movil, the largest telecom company and mobile phone operators respectively, in Mexico.

3. Bill Gates $58.0 billion (U.S)
The most surprising change is obviously, Bill Gates’ move to #3, down from #1 position that he held for over 13 years. Bill Gates is Chairman of Microsoft, the software giant and maker of Windows operating system.

4. Lakshmi Mittal $45.0 billion (India)
Lakshmi Mittal is a U.K-based steel tycoon who made headlines last year by acquiring Arcelor Steel, the largest iron and steel company in Europe.

5. Mukesh Ambani $43.0 billion (India)
Mukesh Ambani owns Reliance Industries, a group of large, fast-growing companies in India. He split up the Ambani group of companies with his brother Anil Ambani, in the past.

6. Anil Ambani $42.0 billion (India)
Anil Ambani owns Anil Ambani group, which was formed from Ambani Group.

7. Ingvar Kamprad $31.0 billion (Sweden)
Owns IKEA, a private, low-cost home products retailer. It became famous for the fact that the customers have to assemble many of the products.

8. Kushal Pal Singh $30.0 billion (India)
K.P Singh owns DLF group, the largest real-estate developer in India. DLF recently got the sponsorship rights to the Indian Premier League(IPL) for US $50 million.

9. Oleg Deripaska $28.0 billion (Russia)
Owns RUSAL, which accounts for almost 12.5% of entire global output of primary aluminium and 16% of the world’s alumina production.

10. Karl Albrecht $27 billion (Germany)
Owns ALDI, a discount supermarket chain based in Germany and one of the largest retail chains worldwide.

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