Warren Buffett is officially getting poorer. After just a few months as the second richest man in the world, he has been passed by Mexican telecom billionaire Carlos Slim.
According to Forbes, Slim is worth $53.1 billion and Buffett only $54.2 billion. Slim did it the hard way. He increased his net worth in the stock market. His holdings in Carso Telecom, which controls the large Mexican phone company Telmex, went up 15% and the value of his holding in wireless operator American Movil is up 4%.
The measurement means little. Slim's net worth has almost doubled in a little more than a year. The Mexican stock market is up almost 50% over that period. A slip in the economy there could easily push him back down the list. Buffett's investment in Berkshire Hathaway Inc. (NYSE: BRK..A) and Bill Gates' (No.1 on the Forbes list) holdings in Microsoft Corp. (NASDAQ: MSFT) are certainly less volatile.
Because so many of the fortunes of the people on the Forbes list are based on holdings in public companies, the list could literally be recalculated every day. The magazine may have to do that to keep up with billionaires like Slim.
Douglas A. McIntyre is a partner at 24/7 Wall St.











Reader Comments (Page 1 of 1)
4-12-2007 @ 3:41PM
Thomas Jowers said...
according to the numbers expressed in this entry, buffet is still the second richest man in the world
4-13-2007 @ 3:38AM
reinharden said...
The Forbes article has Mr. Buffet at $52.4B, not the $54.2B mentioned on this site.
With Mr. Gates listed at $56B, its neck neck... ;-)
reinharden
6-03-2007 @ 1:08AM
mohd yaseen said...
im very poor man i want u help me sir i have 11 family members i cant do any think for my family plese sir help me.
7-04-2007 @ 10:05AM
bhattathiri said...
Carlos Slim's art of Management has become a part and parcel of everyday life, be it at home, in the office or factory and in Government. In all organizations, where a group of human beings assemble for a common purpose irrespective of caste, creed, and religion, management principles come into play through the management of resources, finance and planning, priorities, policies and practice. Management is a systematic way of carrying out activities in any field of human effort. Management need to focus more on leadership skills, e.g., establishing vision and goals, communicating the vision and goals, and guiding others to accomplish them. It also assert that leadership must be more facilitative, participative and empowering in how visions and goals are established and carried out. Some people assert that this really isn't a change in the management functions, rather it's re-emphasizing certain aspects of management.
Its task is to make people capable of joint performance, to make their weaknesses irrelevant, says the Management Guru Peter Drucker. It creates harmony in working together - equilibrium in thoughts and actions, goals and achievements, plans and performance, products and markets. It resolves situations of scarcity, be they in the physical, technical or human fields, through maximum utilization with the minimum available processes to achieve the goal. Lack of management causes disorder, confusion, wastage, delay, destruction and even depression. Managing men, money and materials in the best possible way, according to circumstances and environment, is the most important and essential factor for a successful management.
7-11-2007 @ 4:17AM
SAMIR FARAH said...
Dear sir, need to send few words of honor to his excellency Mr.Carlos slim asking him if possible to grant an Scholarship loan for my sun.
Many thanks for giving me this opportunity.
Any reply will be highly apprtd.
Very best regards.
7-11-2007 @ 4:21AM
SAMIR FARAH said...
Dear sir, need to send few words of honor to his excellency Mr.Carlos slim asking him if possible to grant an Scholarship loan for my sun Nadim in Lebanon.
Many thanks for giving me this opportunity.
Any reply will be highly apprtd.
Very best regards.
7-11-2007 @ 5:58AM
Michael Schneider said...
Several items about Carlos Slim including items on his holdings, his charitable contributions and his life are available along with those of items about Eddie Lampert, Warren Buffett, Jim Rogers and others in the (yellow label, top) Billionaire Watch section at http://www.Barrelomoney.com.