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The Top Ten In 2004
William Gates III
1
49 , self made
Source: MicrosoftNet Worth: $46.5 bil Country of
citizenship: United StatesResidence: Medina, WA,
United States Industry: SoftwareMarital Status:
married , 3 children Harvard University, Drop Out
Gates was given honorary knighthood in March, but
don't call him Sir William: the title is only good for
citizens of the Commonwealth. He is staying plenty
busy pressing Microsoft beyond PCs into television
set-top boxes, games, cell phones. "Software is
where the action is," Gates proclaimed to company
researchers last August. Competition from rival open
source operating system, Linux, is stalling
Microsoft's growth in the server market, but desktop
dominance remains intact: Windows installed in 94% of
PCs being sold. Next version, Longhorn, should be
ready in 2006. Microsoft, meanwhile, is pursuing
online music, photos and search software. Gates is
methodically diversifying his wealth: He sells 20
million shares each quarter, reinvests through Cascade
Investment in nontech companies, including big stakes
in Cox Communications, Canadian National Railway,
Republic Services. World's biggest philanthropist also
devoting $27 billion to good deeds. Bill & Melinda
Gates Foundation fights infectious diseases (hepatitis
B, AIDS), funds vaccine development, helps high
schools.
Warren Buffett
2
74 , self made
Source: Berkshire HathawayNet Worth: $44 bil Country
of citizenship: United StatesResidence: Omaha, NE,
United States Industry: InvestmentsMarital Status:
widowed , 3 children University of Nebraska Lincoln,
Bachelor of Arts / ScienceColumbia University, Master
of Science
Newspaper delivery boy filed first 1040 at age 13;
claimed $35 deduction for bicycle. Studied under
Benjamin Graham at Columbia. Applied value-investing
principles to build Berkshire Hathaway to $133 billion
(market cap) holding company: insurance, energy,
carpets, jewelry, furniture, paint (Benjamin Moore),
apparel (Fruit of the Loom). Also big stakes in
American Express, Coca-Cola, Gillette (now set to
merge with Procter & Gamble). Admits Berkshire's
$30 billion-plus cash hoard is underutilized:
"It's a painful condition to be in, but not as
painful as doing something stupid—[Vice Chairman]
Charlie [Munger] and I detest taking even small
risks." Recent bets include Pier One Imports,
Comcast, food distributor McLane. Bought mobile-home
maker Clayton Homes after reading autobiography by
company founder. "If we fail, we will have no
excuses." Since taking control of Berkshire has
delivered compound annual return of 24%. Outspoken
opponent of Bush tax cuts, courted as adviser to pols
Arnold Schwarzenegger and John Kerry. Critic of lax
corporate governance, became target of failed campaign
to vote him off Coca-Cola board. Fanatical supporters
still far outnumber critics: Berkshire's folksy annual
meeting crowds routinely top 15,000.
Lakshmi Mittal
3
54 , inherited and growing
Source: steelNet Worth: $25 bil Country of
citizenship: IndiaResidence: London, United Kingdom
Industry: ManufacturingMarital Status: married , 2
children St Xavier's College Calcutta, Bachelor of
Arts / Science
Coming-out year for the steel titan, who now oversees
the world's largest steel company, Mittal Steel. In
December he merged his Ispat International with
Ohio-based International Steel Group. Owns 88% of the
$31.5 billion (sales) company. Recently shelled out
$100 million for a new 12-bedroom mansion in London's
posh Kensington neighborhood. Also reportedly dropped
$60 million to host his daughter's five-day-long
wedding celebration in Versailles last summer.
Carlos Slim Helu
4
65 , inherited and growing
Source: telecomNet Worth: $23.8 bil Country of
citizenship: MexicoResidence: Mexico City, Mexico
Industry: CommunicationsMarital Status: widowed , 6
children
Just call him Midas. Latin America's richest man upped
his wealth this year by an incredible $10 billion,
thanks to a growing and diverse empire that includes
holdings in retail, banking and insurance, and auto
parts manufacturing. Shares of his flagship wireless
telecom outfit, América Movil, soared 76% during the
year. And his fixed-line operator, Telefonos de
Mexico, or Telmex, is reportedly gearing up to double
its customer base this year, primarily in Mexico, by
signing up 600,000 broadband Internet subscribers. As
one of its largest shareholders, Slim was purportedly
contemplating taking MCI private—until Verizon bid
to acquire the beaten-down phone company in February.
Said to have one of Latin America's largest
collections of Rodin sculptures; is also the founder
of Foundation of the Historic Center of Mexico City,
dedicated to restoring colonial buildings in Mexico
City's historic city center.
Prince Alwaleed Bin Talal Alsaud
5
48 , self made
Source: investmentsNet Worth: $23.7 bil Country of
citizenship: Saudi ArabiaResidence: Riyadh, Saudi
Arabia Industry: InvestmentsMarital Status: married ,
2 children Menlo College, Bachelor of Arts /
ScienceSyracuse University, Master of Science
This savvy global investor and nephew of the Saudi
king continues to thrive on deal-making—in addition
to a dash of pro-American political crusading. His
fortune, anchored by a $10 billion stake in Citigroup,
was lifted in part by a 116% rise in the Saudi stock
market in 2004. Last year he unloaded his half of New
York's Plaza Hotel and plowed the profits into buying
stakes in London's Savoy Hotel and Monaco's Monte
Carlo Grand. In January he helped bail out an ailing
Disneyland-Paris with a $30 million cash injection. A
vocal supporter of women's rights, he hired the first
female airplane pilot in Saudi Arabia, a country where
women still can't legally drive. Clearly pleased with
his stock picking prowess, he took out ads on CNN
touting his holdings. "We're telling the market
all these companies are number one in their
field," crows Alwaleed.
Ingvar Kamprad
6
78 , self made
Source: IkeaNet Worth: $23 bil Country of citizenship:
SwedenResidence: Lausanne, Switzerland Industry:
RetailingMarital Status: married , 4 children
Founder and owner of $16.4 billion (sales) IKEA, the
preferred furniture company for the hip and
cost-conscious. Cultlike following: store openings
draw huge, occasionaly unruly crowds, sometimes
resulting in stampedes or in one case two deaths.
Stories of Kamprad parsimony abound: He reportedly
flies economy, stays in cheap hotels and so on. But he
doesn't deprive himself entirely: owns a posh villa in
Sweden, a 17-hectare winery in Provence and lives in
wealthy-friendly Switzerland rather than Sweden.
Paul Allen
7
52 , self made
Source: Microsoft, investmentsNet Worth: $21 bil -
Country of citizenship: United StatesResidence:
Seattle, WA, United States Industry: SoftwareMarital
Status: single Washington State University, Drop Out
Microsoft cofounder still a believer in "wired
world," though these days jettisoning investments
like TechTV in favor of biotech. Stock in cable
company Charter Communications languishing, thanks to
an assist from the indictment of 4 executives on
charges of inflating company's results. Other
misfortune with investment in troubled telecom
provider RCN; last year he sold his stake at a big
loss. Still managing to have a good time elsewhere.
Owns pro football's Seattle Seahawks, basketball's
Portland Trail Blazers. Financial backer of
SpaceShipOne, first to launch private flight into
suborbital space. Added Science Fiction Museum to his
Experience Music Project in Seattle; includes
captain's chair from the original Star Trek. Other
captain's chair sits high atop the Octopus, 413-foot
yacht armed with 2 helicopters and a 60-foot
submarine. His Paul G. Allen Family Foundation has
donated heavily to education, art and science causes.
Joined buddy Bill Gates in 1975, left the company in
1983 to fight Hodgkin's disease. Has been slowly
selling off Microsoft stake ever since.
Karl Albrecht
8
85 , self made
Source: supermarketsNet Worth: $18.5 bil Country of
citizenship: GermanyResidence: Muehlheim an der Ruhr,
Germany Industry: RetailingMarital Status: married , 2
children
Richest man in Germany. With younger brother, Theo,
turned mother's corner grocery store into discount
supermarket giant Aldi. Now has 7,000 stores and
estimated $50 billion in sales. Karl used to manage
more profitable southern half of Aldi's German
business, but has since retired. Fiercely private, he
apparently loves golf and raises orchids.
Lawrence Ellison
9
60 , self made
Source: OracleNet Worth: $18.4 bil Country of
citizenship: United StatesResidence: Silicon Valley,
CA, United States Industry: SoftwareMarital Status:
married , 2 children University of Illinois, Drop Out
Chicago native cofounded database software firm Oracle
in 1977 and took it public in 1986, one day before
Microsoft; nipping at rival's heels ever since. Touts
Darwinian view of software industry, decreeing that
all but the largest players are doomed. Just as
competitive on the high seas: Ellison’s a tenacious
competitor in the America's Cup and his BMW Oracle
Racing team looks to be in fighting trim leading up to
the 2007 race. A visionary very attached to his own
vision of things, he gave exclusive access to a
biographer in exchange for being allowed to pepper the
book with footnotes giving his own version of events.
Latest footnote: adding PeopleSoft to Oracle's
arsenal.
S Robson Walton
10
61 , inherited
Source: Wal-MartNet Worth: $18.3 bil Country of
citizenship: United StatesResidence: Bentonville, AR,
United States Industry: RetailingMarital Status:
divorced , 3 children University of Arkansas, Bachelor
of Arts / ScienceColumbia University, Doctor of
Jurisprudence
Eldest son of Sam Walton (d. 1992), legendary merchant
who opened first discount store in Rogers, Ark. in
1962. Took Wal-Mart public in 1970; explosive growth.
Wal-Mart is now the world's largest retailer, with
more than 5,000 stores. Serves as Wal-Mart chairman.
Retail giant is now selling softer side after barrage
of criticism over poor worker benefits and
strong-arming suppliers. Family donates via Walton
Family Foundation.
By Forbes.com
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