Bill Gates No Longer World's Richest

[Dien Rice]

Believe it or not... Apparently, Bill Gates is no longer the world's richest man!

According to some publications, he's been overtaken by Mexican telecommunications tycoon, Carlos Slim Helú. Helú is apparently worth $67.8 billion (thanks to his surging telecommunications stocks), while Bill Gates is worth a mere $59.2 billion.

Or in other words, if you worked a job and made $100 an hour, in order to have Helú's wealth, you'd have to work 678 million hours, or (working 24 hours a day, 7 days a week, without rest), you'd have to work for 77,600 years.

It shows how smart it is to let your money work for you, rather than just live from your wages - as James Anthony was pointing out recently...

Of course, Bill Gates is busy nowadays giving away his wealth to good causes, so Bill probably still wins in the philanthropy department!

Dien

P.S. Here's an article about Mr. Helú overtaking Mr. Gates... http://business.guardian.co.uk/story...rc=rss&feed=24

Dien,

Thanks for letting us know.

Bill Gates is busy nowadays giving away his wealth to good causes

Who defines "Good Causes"?

I'm sure everyone who is behind a Cause thinks Their cause is Good. I'm sure those who support suicide bombers and other terrorist bombers who like to blow up masses of citizens going about their normal business, think That is a Good cause.

*I* actually find hardly any Good causes. Most - not all, most - causes are about creating a dependence on the Provider and thus remove incentive for a person to do things for themselves - and/or - getting money from the govt (which is stolen from us first by the govt, but called Tax). And Anything that infringes upon a person's Property Rights or removes their incentive is not good.

Bill probably still wins in the philanthropy department!

Again, Who decides this? What criteria are used to make this conclusion?

I am sure the person/people who support the murdering bombers think it better philanthropy than supporting anything else.

And Carlos' story (http://en.wikipedia.org/wiki/Carlos_Slim_Hel%C3%BA) shows me more, how important it is to buy infrastructure that was built by the government - and - be on the board of directors in things in which you have money so you can direct that money and the money of other people towards your own ends.

And while quoting someone's wealth as What The Stock They Own Is Worth is nice, I think it better to know their revenue based on the products/services they sell. Just think of all those Rich who got that way selling Scammy Internet Stocks in companies that had never sold anything Tangible or had made a single cent in profit.

How does Carlos' gross and net revenue compare to Fed Ex's or Walmart's?

It shows how smart it is to let your money work for you, rather than just live from your wages

I've mentioned this before... and it's my part disagreement with that idea. It's smart - a good thing to the individual - only if it gels with you. If it doesn't, then living this way will drive you crazy as the fulfillment you used to derive from Working and Supporting Yourself is taken away from you. Not to mention additional pressures you now deal with in Managing this Investment.

Warren Buffet has been known to say something like, if you cannot handle (mentally deal with) the idea that the day after you buy stock their value drops to half, then you should Not invest in stock.

I've seen people change, for the worse, because of their Inability to mentally deal with what goes on in their "let my money work for me" investments. Some become angry and snappy at All around them and make Rash decisions in other areas of their life. Other become withdrawn as they try to overcome their mental demons, making life miserable for friends and family and co-workers.

The "smart to have your money work for you instead of work for money" thing is a Blanket statement and can mess with people who take it as Gospel without being aware of the consequences of doing so. Such statements can make people feel - wrong, inferior, lower class, something wrong with them, etc. - if they don't follow that blanket advice. Which is why I prefer to add the Warning part - that it Must gel with the individual, otherwise it does more harm than good.

Michael Ross

At least he's still Happy...
http://www.jossip.com/bill-gates/it-...ness-20070706/

And Smart...
http://www.chinadaily.com.cn/china/2...ent_910688.htm

Interesting articles including... Chinese women crave Bill Gates' sperm...

Bet there's a few T-Shirt ideas.... in the News...

http://news.google.com/news?q=Bill%2...=1&sa=N&tab=wn

Phil