Warren Buffett once again the richest man

Turkmenistan News.Net
Saturday 11th October, 2008

Billionaire investor Warren Buffett has once again become the richest American, only weeks after Bill Gates was given the title.

Forbes magazine has recalculated the fortunes of some of the 400 wealthiest Americans and has deposed Microsoft co-founder Bill Gates, after assessing the effect of thecurrent financial crisis.

Seventeen billionaires on Forbes list have lost more than $1 billion in the past month.

But, Buffett has managed to boost his wealth by $8 billion to $58 billion, pushing Gates down to second place after his 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 into an investment firm with strong management.

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