Buffett knocks out Bill Gates as world's richest

MANILA, Philippines - After 13 years on top, Microsoft's Bill Gates is no longer the planet's richest man. Warren Buffett has taken his place. According to the Forbes annual list of billionaires, Warren Buffett is now worth $62 billion, $10 billion up from last year, as shares of his company Berkshire Hathaway surged. Bill Gates, co-founder of the software giant, is worth now worth "only" $58 billion. He is only the third richest in the world. "He (Gates) is up $2 billion from a year ago, but would have been perhaps as rich--or richer--than Buffett had Microsoft not made an unsolicited bid for Yahoo! at the beginning of February," Forbes said. Microsoft shares fell 15 percent between Jan. 31, the day before the company announced its bid for Yahoo. Forbes said Mexican telecom tycoon Carlos Slim Helú is the world's second-richest man, with an estimated net worth of $60 billion. - GMANews.TV