Number of Billionaires Declines

2009-03-12 03:17:56 (GMT) (WiredPRNews.com - Money & Finance, News)

Bill Gates is listed by Forbes as the richest man in the world despite 18 billion dollar loss

Forbes’ list of the world’s billionaires has dwindled over the past year.

Wired PR News – The recession has altered the financial circumstances for people of every income bracket, including the extremely wealthy. As reported by Forbes.com on Yahoo Finance the number of the world’s billionaires has significantly declined over the last year.

Last year’s Forbes list was comprised of 1,125 billionaires. This year, the list has downsized to 793. As noted in the report, 373 individuals were taken off of the list as a result of a change in their fortune, and 18 were removed due to their deaths. Even for many who remain on the list, their riches amounted to considerably less than before.

As pointed out by Forbes.com, the richest man in the world, Bill Gates attained the title, despite seeing an $18 billion loss. Gates knocked last year’s richest man, Warren Buffet, who lost a total of $25 billion, out of the top position.

Photo Credit: World Economic Forum