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Gates loses $4bn

But hey! It's not all bad, he's still the richest man in the world...

By Suzanna Kerridge

Published: 22 June 2001 12:51 GMT

Bill Gates, chief software architect at Microsoft, has seen his wealth diminish by just over $4bn in the last year as the downturn takes its toll on the tech stocks.

The Forbes 2001 rich list claims Gates is still the richest man with $58.7bn compared to last year's $63bn. However, as the economic doom and gloom spreads, Nasdaq has seen as much as 30 per cent of its value wiped out in the past year.

Microsoft co-founder Paul Allen is in third position, with just over $30bn, followed closely by Larry Ellison in fourth with $26bn.

Stelios Haji-ioannou, founder of EasyJet and the EasyEverything chain of internet cafes, has crept onto the list with a fortune of $1.5bn to his name.

According to Forbes, the 'average' billionaire - there are 538 worldwide - is 62-years-old and worth $3.2bn.

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