MikeLigalig.com

By Gavin Clarke
The Register UK

It seems that tech's billionaires are sharing the privations of ordinary citizens, whose savings are vanishing and pensions becoming worthless as stock markets tumble.

Bill Gates' 15-year reign as America's richest person is reportedly over, as the value of his investments has shrunk, surrendering his crown to investor Warren Buffett.

Gates, who amassed his fortune on Windows with Microsoft, has seen his net worth fall by $2.5bn to $55bn in four weeks while Buffett, who made his cash pile by investing in a broad portfolio with his Berkshire Hathaway baby, soared $8bn to $58bn, according to a revised Forbes rich list.

America's third richest person, and tech's best remunerated chief executive, has also taken a thumping but still holds on to his number-three slot. Larry Ellison is now worth $25.4bn, down from $27bn in the middle of September.

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