Recession Wipes 30% Of Forbes Billionaires Off List

Great Depression 2.0 has another victim: Forbes magazine’s list of the world’s billionaires.

Forbes says there are now 793 billionaires, down 30% from last year, and the first drop since 2003. The average billionaire’s net worth dropped 23%.

WSJ: Despite losing $18 billion in the past year, Microsoft Corp. co-founder Bill Gates reclaimed the title of richest man in the world, with a total net worth of $40 billion.

Warren Buffett is No. 2, with $37 billion. He lost $25 billion in the past year as shares in his company, Berkshire Hathaway Inc., dropped nearly a third in value. Mexican telecom titan Carlos Slim Helu, who lost $25 billion, is third, and Oracle Corp. Chief Executive Larry Ellison is No. 4.

Meanwhile, Facebook CEO Mark Zuckerberg — last year’s youngest billionaire — dropped off the list as the value of his Facebook stock dropped.

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