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In 2008, Forbes magazine announced that Microsoft’s Bill Gates was no longer the richest person on the planet (a record he had enjoyed for some 13 years). The top spot had been awarded to his good friend, Warren Edward Buffett, who was estimated to be worth in the region of US$62 billion (£38 billion). This made Buffett around 14 times wealthier than Sir Richard Branson (chairman of the Virgin Group).
Buffett is chairman and CEO of Berkshire Hathaway, a conglomerate holding company that employs over 233,000 workers and has annual sales in excess of $118 billion.
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