Jobs Rises, Gates Falls, On Forbes's Billionaire Lists

by , 2:00 PM EST, February 28th, 2003

To paraphrase the late Carl Sagan: They have billions upon billions upon billions...

We are talking, of course, about the newly released Forbes' list of the World's Richest People. The Forbes list is headed, once again, by Microsoft's own William H. Gates III, whose fortune Forbes values at US$40.7 billion dollars, down substantially from the US$52.8 billion Bill claimed last year.

Another Microsoft shareholder making the top 5 of Forbes' list is Microsoft cofounder Paul Allen who's fortunes also diminished from US$25.2 billion dollars in 2002 to US$20.1 billion dollars this year. It seems even the big boys (and girls) have "felt" the effects of the economy.

Except Steve P. Jobs, that it. How did our favorite CEO fare this year? Apple's head honcho's value actually increased from US$1.1 billion in 2002 to US$1.7 billion in 2003 due in large part, according to Forbes, to his holdings in Pixar. Here's Forbes' comments on Apple's and Pixar's fearless leader:

Apple Computer has just 5% market share, but owns near-monopoly on buzz for cool gear like MP3 player iPod, table-lamp-like iMac computer. Eternal optimist plans to jump-start sluggish growth by making Apple center of digital lifestyle. Founded Apple 1976 with Steve Wozniak. Formed Next Computer after ouster from Apple 1985; returned when Apple bought Next 1996 for $400 million. Catalyst for next generation OS. Name synonymous with Apple, but bulk of wealth hitched to animated film studio Pixar (Monsters, Inc., Toy Story). Good thing: for the year Apple shares down 32%; Pixar up 34%.

Prince Alwaleed Bin Talal Alsaud of Saudi Arabia, another Apple shareholder clocking in at some 5%, also made the Top 10, coming in at #5. Forbes places his net worth at US$17.7 billion. His value last year was pegged at US$20 billion, but it was only good enough for the #11 spot in Forbes' 2002 rankings. He leapfrogged the Walton clan and Steve Jobs' billionaire buddy Larry Ellison, CEO of Oracle, to claim the #5 spot this year.

For more information on the incredibly rich check out Forbes' list of the World's Richest People.

The Mac Observer Spin:

How about that! Jobs managed to increase his fortune and positioning on Forbes' yearly list; last year Jobs occupied the 413th spot, this year he jumps to the 236th position and he's one of the few whose fortune increased during the current economic blues.

Of course, having more money than the GNP of some small countries is fine for those who've earned it but we have to wonder what does a person do with several billion dollars? Pretty much anything he or she wants. It's hard to imagine how a life can change when you don't have to worry about the necessities. We think these folks stopped worrying about anything a long time ago. Fortunately, Forbes has put together a RealPlayer report on How to Spend A Billion Dollars.

One interesting note is that Jobs and Gates are both self-made billionaires, a group that includes the likes of Oprah Winfrey, and that the bulk of the billionaires are American, taking more than 220 spots on Forbes' list, which proves once again that America still is the Land of Opportunity.

Is this a great country or what?

Forbes' World's Richest People List