Buffett Bets on the Railways

Ignoring seemingly better growth opportunities in emerging markets like Brazil, China & India, Warren Buffett has just made his largest investment yet - in a US railway!

The world’s second richest man

I must be getting out of touch with the global business world.  I really didnt know much about the world’s second richest person when the latest listings were published by Forbes Magazine this week.

Bill Gates knocked off the top spot in the ‘World’s Richest’ rankings

US investment guru Warren Buffett has beaten his friend and occasional card playing partner Bill Gates to the title of the world’s richest man - according to the most recent Forbes ‘Rich List’.

The Microsoft co-founder had topped the Forbes business magazine’s rich-list for the past 13 years, but Mr Buffett’s wealth increased by $10bn last year to $62bn.  Mr Gates’s fortune climbed by $2bn during the same period, putting him down to third on the list with a fortune of $58bn. He was narrowly squeezed from second place by the Mexican communications magnate Carlos Slim Helu, whose $60bn net worth has doubled in the past two years.