Friday, 16 September 2011
High Networth individual Rank in the World
1. Bill Gates
Even after losing $18 billion, Bill Gates still has a net worth of $40 billion. As you might know, Bill Gates is a self-made billionaire, earning his money as an entrepreneur. Gates was one of the early disk operating system pioneers and started a software company with some of his peers. The company became Microsoft. One of the main breaks for Gates was an agreement with IBM for an operating system for $50,000. Since he did not transfer the copyright to IBM, he was able to continue making money of the MS-DOS system as other hardware vendors cloned the system. Gates has been accused of unsavory business practices in the past, and was recently involved in anti-trust proceedings in the European Union, but there is no denying the success of Microsoft. Gates now devotes a great deal of money and time to his philanthropic efforts, through the Bill and Melinda Gates Foundation.
2. Warren Buffett
One of the most famous investors in the world is Warren Buffett. After losing $25 billion, his net worth now is right around $37 billion. Most of his fortune is self-made, coming as an outgrowth of a textile firm, Berkshire Hathaway. His father was a politician in Omaha, and Buffett delivered newspapers for his first job. (He also took a $35 tax deduction for his bicycle at age 13.) When Buffett bought Berkshire, he spent some years transitioning it to a holding company. Then he began using it to buy other businesses. Buffett is known for his business sense and investing savvy, and his obsession with checking into companies for their sound fundamentals before making a buying decision. Berkshire owns stakes in Geico, Dairy Queen, See’s Candy, Coca-Cola, Wells Fargo and other well-known companies.
Even after losing $18 billion, Bill Gates still has a net worth of $40 billion. As you might know, Bill Gates is a self-made billionaire, earning his money as an entrepreneur. Gates was one of the early disk operating system pioneers and started a software company with some of his peers. The company became Microsoft. One of the main breaks for Gates was an agreement with IBM for an operating system for $50,000. Since he did not transfer the copyright to IBM, he was able to continue making money of the MS-DOS system as other hardware vendors cloned the system. Gates has been accused of unsavory business practices in the past, and was recently involved in anti-trust proceedings in the European Union, but there is no denying the success of Microsoft. Gates now devotes a great deal of money and time to his philanthropic efforts, through the Bill and Melinda Gates Foundation.
2. Warren Buffett
One of the most famous investors in the world is Warren Buffett. After losing $25 billion, his net worth now is right around $37 billion. Most of his fortune is self-made, coming as an outgrowth of a textile firm, Berkshire Hathaway. His father was a politician in Omaha, and Buffett delivered newspapers for his first job. (He also took a $35 tax deduction for his bicycle at age 13.) When Buffett bought Berkshire, he spent some years transitioning it to a holding company. Then he began using it to buy other businesses. Buffett is known for his business sense and investing savvy, and his obsession with checking into companies for their sound fundamentals before making a buying decision. Berkshire owns stakes in Geico, Dairy Queen, See’s Candy, Coca-Cola, Wells Fargo and other well-known companies.
