Bill Gates No Longer Richest Man

You had a good run, Bill. Forbes magazine will release its annual ranking of the world’s richest people Wednesday, and Microsoft tycoon Bill Gates is expected to lose his No. 1 post. And for a valiant reason—Gates has poured so much money into his philanthropic vehicle, the Bill and Melinda Gates Foundation, that he’s expected to be surpassed by Mexican mogul Carlos Slim and investor Warren Buffett. Gates is thought to be worth about $49 billion, most likely keeping him in the top three; he has plowed $28 billion into his foundation since it was established in 1994.