10 March, 2008

Worlds Richest Man-Warren Buffet

Its now official Bill Gates is no longer the Worlds Richest Person, He doesn't even rank second.This change of fortune is due to plummeting stock of Microsoft Corps shares due to their ill advised bid to buy out Yahoo in February this year!Warren Buffet (son of a Nebraska politician) became the richest person in the world due to his stake in rising textile firm Berkshire Hathaway giving him a net value of $62 billion up from last years $52 billion.Gates ranks with net value of $58 after Mexican telecom Tycoon Carlos Slim Helu the worlds second richest man valued at $ 60 billion this is according to forbes magazine latest list of 100 richest people .

Mr Buffet has made his wealth by buying shares in a number of Blue chip companies.So folks keep on buying shares on the Nairobi Stock Exchange you never know how much wealth you may just end up creating for yourself.Mr Buffet has promised to give away his fortunes posthumously.

On the Forbes fortune 400 list Africa the richly endowed continent despite being the diamond rich continent and having rich reserves of oil and natural gas is faring badly.The richest African in the top 100 list is Egyptian telecom magnate Naguib Sawiris of Orascom telecom and Weather Investments ranking number 62 in the world worth $10 Billion followed by his brothers Nassef Sawiris at position no.68 and Onsi Sawiris at position no.96.

South African mining magnate Nicky Oppenheimer and family at $5 Billion rank at position 158 and Johann Rupert and family( affable head of Swiss luxury group Richemont) at value of $4.3 Billion.

Well who is the richest black person,definately not Oprah this time but Nigerian Billionaire Alhaji Aiko Dangote of Dangote holdings ranked at position 334 with net value of $3.3 Billion.Mr Dangote has interests in sugar,flour milling,textiles,real estate,haulage and gas among other things.Mr Dangote was followed closely by South African Gold Magnate and lawyer Mr Patrick Motsepe(from Soweto to fortunes!) at position 503 with an estimated value of $2.4 billion.

For football lovers the Chelsea tycoon owner Roman Abramovich ranks at position 15 it the world at an estimated value of $23.5 Billion. Definately, Africa should not keep sleeping as the rest of the world soldiers forth.Corruption is our biggest challenge towards wealth creation and distribution.Make the paper,make the skrilla, make the dough!

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