Bill Gates Dethroned as World's Richest Man

[Godwynn]

By Carlos Slim Helu.

He has an estimated net worth of $68.7 billion against Bill Gates' $59.2 billion. 90% of landlines and 80% of cell phone service are under one of his companies. His overtaking of Bill Gates and Warren Buffett is attributed to gains America Movil stock.

Our concept is more to accomplish and solve things, rather than giving — that is, not going around like Santa Claus. Poverty isn't solved with donations.

Is he just a selfish greedy capitalist or is he right in telling the poor to pull themselves up by the bootstraps?

 

[Asher]

Only reason Gates isn't #1 is his philanthrophy.

Carlos Slim Helu may be #1 in terms of wealth, but he's also #1 in terms of world-class . .. .. .. .. .. .. .s.

 

[Catharsis]

That's not entirely fair. I don't really know anything about the guy, but according to that Wiki article he:

organized the Fundación del Centro Histórico de la Ciudad de México A.C. (Mexico City Historic Downtown Foundation), whose objective is to revitalize and rescue Mexico City's historic downtown, for more people to live, work and find entertainment in this area. He is Chairman of the Executive Committee for the Restoration of the Historic Center since the year 2001.

Additionally, as part of his philanthropic work, he heads the Latin America Development Fund project.

But he's right, in a way. 'Poverty' (in the long-term sense of the word) isn't solved by handouts and monetary charity. However, 'poverty' (in the short-term sense of the word) is made a lot easier to live with by such donations. £10 isn't going to save a man starving on the streets of London, but it'll buy him a nice meal.

 

[Masquerouge]

Without more details about his conception of acomplishing and solving things, it's hard to say... he's right to say that giving someone money will not likely solve his problems, though.

Then again giving a $10 million grant to medical research will probably work, so...

 

[GinandTonic]

By Carlos Slim Helu.

He has an estimated net worth of $68.7 billion against Bill Gates' $59.2 billion. 90% of landlines and 80% of cell phone service are under one of his companies. His overtaking of Bill Gates and Warren Buffett is attributed to gains America Movil stock.



Is he just a selfish greedy capitalist or is he right in telling the poor to pull themselves up by the bootstraps?

90% of landlines and 80% of cell phone service are under one of his companies where? Mexico?

 

[Godwynn]

90% of landlines and 80% of cell phone service are under one of his companies where? Mexico?

Sorry, yes in Mexico. He has a strong presence in the rest of Latin America as well.

 

[Fifty]

I dunno, I'd trust the report more if it weren't by some random mexican journalist.

 

[LordRahl]

"Want to help the poor? Stop being one..."

 

[scy12]

But Bill Gates remains as number one Philanthropist regarding donations.

Donations to the right organizations , is going a long way to help the poor .
You don't need only the money to feed the poor with a fish , you also require money to teach the poor , how to fish.

But on the other hand i read that Bill Gates is an as.hole , in his personal life. Then again it is shadowed by the fact that he is number one philanthropist.

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[downtown]

Bill Gates doesn't just write checks. He's charity is one of the most well-run in the world, and gives money to help people help themselves, in the form of advancing heath care, and education.

The Gates foundation is about giving people a hand up, not a handout.

 

[downtown]

As for Carlos, I don't know a whole lot about him, because he tries to keep a somewhat low-profile (compared to other people who are super rich), but he isn't all that popular in Latin America. Gates, Buffet, and a few other Americans have not only become mega-rich, and also used that money to benefit their fellow man. Carlos has kind of turned the screws to the poor with the way he runs his business.

 

[GenMarshall]

Meh, I'd go for the old school Railroad barons of days past .

 

[Urederra]

As for Carlos, I don't know a whole lot about him, because he tries to keep a somewhat low-profile (compared to other people who are super rich), but he isn't all that popular in Latin America. Gates, Buffet, and a few other Americans have not only become mega-rich, and also used that money to benefit their fellow man. Carlos has kind of turned the screws to the poor with the way he runs his business.

Strange post coming from you. You might don't know much about him, but I do, same as for Amancio Ortega. i don't think it is because they try to keep a low-profile, it is rather because they are not americans.

I have done this little experiment several times by now, when i met an american that happens to like Basket, I try to ask him/her who are the actual world basketball champions, i am getting 'Spurs' as the answer quite often lately.

I reply, close, starts with Sp, but is not spurs.

 

[Swedishguy]

I thought the director of IKEA was the richest man in the world...? This is just confusing. From now on I will not care about rich people whatsoever.

 

[Nylan]

I thought the director of IKEA was the richest man in the world...? This is just confusing. From now on I will not care about rich people whatsoever.

Let's hope you never become one or you may die

 

[Urederra]

From wiki.

http://en.wikipedia.org/wiki/List_of_billionaires_%282007)

Name Net Worth Citizenship Source
1 William H. Gates III US$56.0 billion United States Microsoft
2[2] Carlos Slim Helú US$53.1[2] billion Mexico Telmex, América Móvil, Grupo Carso
3[2] Warren Buffett US$52.4[2] billion United States Berkshire Hathaway, Investments
4 Ingvar Kamprad US$33.0 billion Sweden IKEA, Real Estate
5 Lakshmi Mittal US$32.0 billion India Arcelor Mittal
6 Sheldon Adelson US$26.5 billion United States Las Vegas Sands
7 Bernard Arnault US$26.0 billion France Louis Vuitton
8 Amancio Ortega US$24.0 billion Spain Inditex Group
9 Li Ka-shing US$23.0 billion Hong Kong Cheung Kong Holdings, Hutchison Whampoa
10 David Thomson and family US$22.0 billion Canada Thomson Corporation

Notice that in this list Gates is the first, but according to other sources, Slim has just reached the first position

 

[Godwynn]

From wiki.

http://en.wikipedia.org/wiki/List_of_billionaires_(2007)


Notice that in this list Gates is the first, but according to other sources, Slim has just reached the first position

It was reported on CNBC just today.

As for the IKEA guy, I heard that some time ago due to exchange rates.

 

[Kennigit]

I thought some Saudi Arabian royalty guy was considered the richest, because officially he owned everything in the country.

 

[The Yankee]

Is he just a selfish greedy capitalist or is he right in telling the poor to pull themselves up by the bootstraps?

Both, probably. Though I wonder what the heck he's going to do with $50 billion.

I wonder how much of the change was due to the weak dollar.

 

[JollyRoger]

"Want to help the poor? Stop being one..."

Changing one's being is such a subjective solution.