World's Billionaire List Reduced By 30 Percent

March 12, 2009 10:45 a.m. EST

New York, NY (AHN) - The global financial crisis has caused 373 people to be stricken off from the Forbes' Magazine's list of the World's Billionaires. The roster was whittled down by 30 percent from the 1,125 billionaires listed the previous year.

Of the 373 taken off the list, 18 passed away, while 355 became poorer. However, 38 newcomers were added and three returned to the roster.

Microsoft founder Bill Gates, even if he lost $18 billion, got back his title as the world's richest man as he dethroned Warren Buffet, whose wealth dipped by $25 billion following the 50 percent reduction of stock value of Berkshire Hathaway. Buffet is now on the second spot.

Mexican telecom giant Carlos Slim Helu similarly lost $25 billion, which caused him to drop from second to third place.

The remaining 793 billionaires on the list had a collective net worth of $2.4 trillion, which is $2 trillion less c