Microsoft founder Bill Gates reclaimed the title as the world’s richest man. This was reported by Forbes magazine on Wednesday.

The global financial crisis affected the performance of many of the world’s big corporations thus reshuffling the list this year. According to the magazine report, there was a significant decrease of billionaires – from 1,125 last year to 793 this year. The total assets plummeted from $4.4 trillion to $2.4 trillion.

Monie Begley, a spokesperson for Forbes magazine, joked that the good news behind this list is that “there are still billionaires.”

This year, Gates amassed a net worth of $40 billion. Coming in at second place is Berkshire Hathaway founder Warren Buffett. Buffett’s company saw a loss of $25 billion in its shares this year.

Mexican telecom tycoon Carlos Slim came in at third place with $35 billion. His company also lost $25 billion.

American billionaires dominated the top 20 with 10 filling up the slots. There was a massive decline of billionaires from other countries such as Turkey, Russia and India.

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