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Gates sees $7 billion go up in smoke

By Barry Collins

Posted on 2 Oct 2009 at 07:58

It's tough at the top at Microsoft. Not only has CEO Steve Ballmer been forced to take a pay cut, but now founder and chairman Bill Gates has seen his personal fortune shrink by $7 billion.

Gates is the biggest loser in the newly-published Forbes list of the 400 richest Americans. But don't spare too much sympathy for the bespectacled billionaire. He still sits proudly atop the rich list, despite being down to his last $50 billion.

Gates's diminishing returns reflect a terrible 2009 for the tech elite. Number 3 on the list, Oracle boss Larry Ellison, saw $27 billion wiped off his yacht fund. Google's Sergey Brin and Larry Page lost $600 million and $500 million respectively. And Gates' fellow Microsofties, Steve Ballmer and Paul Allen also had their bank balances slashed to the tune of $1.7 billion and $4.5 billion respectively.

Only one of the 12 richest tech luminaries saw their wealth expand this year: Amazon boss Jeff Bezos. He plumped out his $8.8 billion fortune by another $100 million after a good year for the web retailer, which saw the launch of its Kindle eBook reader and a healthy boost in overall profits. And to think this was once the company that experts said would never make a profit.

Overall, the top 400 wealthiest Americans lost a collective fortune in excess of $300 billion. Bob Geldof is rumoured to be planning a relief concert.

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User comments

It's all relative

I'm sure this time next year we'll be all going 'Wow Bill Gate's fortune has increased by $9 billion'

As long as he can afford his first editions, i'm sure he won't be too bothered.

By jamesyld on 2 Oct 2009

I realise he gives a lot away, being a philantropist and all, but $7 billion???!!!??? Only $50 Billion left, he must be devasted...

By onegin101 on 2 Oct 2009

Richest individual

Gates may be the richest individual but families like the Rothschilds leave him in the dirt.

Individually, family members don't show up on these lists. Collectively, they are said to be worth between 600 and 700 trillion dollars (not billion mind, trillion).

Their (deliberate) low profile does seem a bit odd in this respect.

By Lacrobat on 2 Oct 2009

tehe!

Gates is the biggest loser in the newly-published Forbes list of the 400 richest Americans.

:o)

By Ic3Knight on 2 Oct 2009

Imaginary money

Those figures aren't based on the money that they have, but on the estimated worth of the things they own.

If Microsoft's share price falls, so will the worth of Bill Gates' imaginary treasure chest.

By peterm2k on 2 Oct 2009

Rich people humor

The folks at "Rich People's FMLs" have posted some hilarious FMLs by these richest Americans ...

http://www.richfml.co.cc

Here's one by Bill Gates:

"Built my own Money Bin and tried to swim in it like Scrooge McDuck, but found it painful due to weak shoulders. FML"
-- BGatesMSoft

And here's one by Oprah:

"Maid forgot to refresh my towel. Had to dry myself off with the same one I used yesterday. FML."
-- OprahWinfrey1400

By RichyRich on 2 Oct 2009