Bill Gates no longer world’s richest man

When Forbes publishes its 2011 list of billionaires on Wednesday, William Henry Gates III will not be at the top. This is by design, however β€” the world’s richest man title may have been lost after, but a far more important title remains: the world’s top philanthropist. Gates is not new to this title according to the Global Philanthropy Group, and it finally cost him his spot as the world’s wealthiest man last year. Gates has reportedly given away a third of his wealth at this point, and the majority of this astonishing sum has gone to the Bill and Melinda Gates Foundation. When Forbes’ list is published on Wednesday, Carlos Slim will sit at the top again with approximately $60 billion, up from his 2010 sum of $53.5 billion. Gates will occupy the No.2 spot with $49 billion followed by Warren Buffet, another renowned philanthropist, who is now worth roughly $47 billion. According to David Lincoln, director of global valuations at wealth research firm Wealth-X, Gates would currently be worth $88 billion had he not given away any money.

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