Forbes magazine on Wednesday reported that Warren Buffett, chairman of Berkshire Hathaway, is the richest man on the planet as of Feb. 11, boasting a fortune of around US$62 billion.

Gates is now worth $58 billion and is ranked the world's third richest man. Microsoft shares plummeted after the company announced a takeover bid for Yahoo. Still, Gates is up $2 billion from a year ago.

Mexican telecoms tycoon Carlos Slim Helú is the world's second richest man, with an estimated net worth of $60 billion.

Meanwhile, Hyundai Motor chairman Chung Mong-koo and Grand National Party lawmaker Chung Mong-joon are tied as the world's 412th richest men, each with an estimated net worth of $2.8 billion. They are the richest men in Korea.

Samsung Group chairman Lee Kun-hee and his younger sister Shinsegae chairwoman Lee Myung-hee share 605th place, with an estimated net worth of $2 billion each. Samsung executive Lee Jae-yong, Lee Kun-hee's only son, ranks 707th with $1.7 billion.

Lotte Group vice chairman Shin Dong-bin ranks 652nd ($1.9 billion), GS Group chairman Huh Chang-soo ranks 962nd ($1.2 billion), and LG Group chairman Koo Bon-moo ranks 1,014th ($1.1 billion).

(englishnews@chosun.com )