Academic

Forbes' 2008 list of the world's richest people reveals that, after thirteen years, Bill Gates no longer holds the title of the world's richest man.  Instead, that honor now goes to Warren Buffett with a net worth estimated at $62 billion.  Gates, at a net worth of $58 billion, fell to the number 3 slot.  Apparently, you can blame Microsoft's bid for Yahoo, and Microsoft's subsequent decline in stock price, for Gates' slide on the Forbes list.  But Microsoft lent a helping hand to at least one other billionaire.  Thus, this year saw the youngest ever billionaire on the list, 23 year-old Facebook founder Mark Zuckerberg, who ranked 785 with a net worth of $1.5 billion.  Microsoft's purchase of a stake in Facebook no doubt helped get Zuckerberg on the list.  Despite Gates fall from number one, I am sure this is one of those instances where coming in third place is not tantamount to losing.