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Biggest Headline of 2008: World's Richest Person Is a Different Name

Biggest Headline of 2008: World's Richest Person Is a Different Name


What's the first word that comes to mind when you hear the name Bill Gates? Billions, perhaps? The self-made billionaire owned the title of World's Richest Person for 13 years until this year, when another household name, Warren Buffett, took it away. When the announcement was made back in March, Buffett's fortune was valued at $62 billion compared to Gates's $58 billion.

Both billionaires likely took a hit, along with the rest of us, when the stock market spiraled downward. Still, Warren Buffett stepped in to boost investor confidence when he bought $5 billion of Goldman Sachs shares during a crucial time for the firm and the whole financial services industry.

Warren Buffett's admirable business mind made him the billionaire he is today, and has earned him a place in the Best of 2008.

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