Wednesday, March 9, 2011

Bill Gates' Philanthropy Costs Him Richest-Man Title

Bill Gates didn't lose his title as the world's richest man last year; he gave it away by plowing billions into his charitable foundation, experts say.

Forbes will release its 2011 billionaires list today and Gates, investor Warren Buffett and last year's richest man, Mexican tycoon Carlos Slim, will almost certainly be in the top three. The trio have topped the list for the past five years.

But it would be no contest if Microsoft co-founder Gates had not already given away more than a third of his wealth to the Bill and Melinda Gates Foundation, which focuses on global health and development and US education.

Source

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