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Bill Gates Is Still the Richest Man On Earth | |
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| Time: 04:26 EST/09:26 GMT | News Source: Forbes.com | Posted By: Viper | ||
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Like every year, the forbes magazine, has just published its world's richest people ranking. It's been a rough year for fortunes large and small, thanks to the burst of the tech stock bubble and volatility in the stock market. But most of the richest of the rich managed to hang in there. We found 538 billionaires from 46 countries this year, with an average net worth of $3.2 billion. Some 46% of them saw their fortunes increase in the last year, while 37% watched them decline. Hopefully Bill Gates is still on top with an estimated fortune of $58.7 billions.
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| #1 By 182 (Unknown) at 6/22/2001 10:25:00 AM |
| Yeah, except XP is not his to give away for free. It's Microsoft's, not Gates'. Microsoft does not belong to Gates, it belongs to Microsoft's stockholders, of which Gates is not a majority holder. I also find such surveys interesting from a financial standpoint. Obviously a great deal of Gates', Ellison's, and Allen's (amd perhaps Albrechts'. I don't know how the Aldi situation shapes up.) money is tied up in stocks where they have very limited liquidity. Even Buffet is in the same boat, though not as badly. For example, if any of the three I mention sell their stock in their company, they are required to file with the SEC because of the amount of stock they own. If Gates is selling Microsoft, what does that do to people's confidence in it? If Gates sold off all of his MS stock, who would buy it? If Gates is getting out, who wants to be in!??!? So this money is only on paper. While I'm sure each of these people has hundreds of millions in liquid assets, they don't really have fifty billion dollars in spendable money. |
| #2 By 182 (Unknown) at 6/23/2001 5:39:00 PM |
| #6 - Which part of "...I'm sure each of these people has hundreds of millions in liquid assets..." is unclear? Perhaps the part about "liquid assets"? Liquid assets are those that you can use to buy stuff. The most common of these assets is cash or a bank account which charges little or no penalty for a withdrawl. Certainly these men have far more money than nearly anyone else on earth. But Bill Gates cannot, even if he wanted to, write a check for $50billion. |
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