Microsoft's Bill Gates is no longer the richest man in the world. He's not even the second-richest, according to Forbes magazine, but has slipped down to third position in the list of the world's richest individuals for 2008.
In the meantime, Mark Zuckerberg, the founder of Facebook, has entered the Forbes list at the world's youngest billionaire, with a personal fortune of $1,5-billion.
And Patrice Motsepe, executive chairman of African Rainbow Minerals, has also made it on to the list as South Africa's first black billionaire.
Warren Buffet has displaced Gates at the top of the list, with his $62-billion having increased $10-billion since last year.
Carlos Slim Helu, with investments in Telefonos de Mexico and America Movil, has earned an addition $11-billion in the last year, taking him to the number two spot with $60-billion.
Gates had a mere $2-billion increase in his wealth during the year, to $58-billion – enough to earn him the number three spot in the Forbes list.
Part of the reason for Gates's fall was the fact that Microsoft stock fell on the news it had bid to buy Yahoo.
The world's top 20 richest people are, in order: Warren Buffett, Carlos Slim Helu, William Gates III, Lakshmi Mittal, Mukesh Ambani, Anil Ambani, Ingvar Kamprad, KP Singh, Oleg Deripaska, Karl Albrecht, Li Ka-shing, Sheldon Adelson, Bernard Arnault, Lawrence Ellison, Roman Abramovich, Theo Albrecht, Liliane Bettencourt, Alexei Mordashov, Prince Alwaleed, and Mikhail Fridman.