This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Buffett and Gates: A Formidable Team

Stocks in this article: GOOG ORCL AMX

NEW YORK ( TheStreet) -- On Wednesday Forbes' famous list of the world's billionaires was revealed. This year, the directory included prominent names in business including No. 6, Oracle's (ORCL) Larry Ellison and No. 24, Google's (GOOG) (GOOG) Sergey Brin.

Investors such as George Soros and John Paulson also found themselves positioned among the top 50.

However, this year the list of the world's super affluent was headed by America Movil's (AMX) Carlos Slim.

This is only the second time since 2001 that the top two spots were not held by the dynamic duo of Bill Gates and Warren Buffett. Instead, the Microsoft (MSFT) founder, who saw his net wealth increase by $13 billion last year, had to settle for second place, while Buffett, who saw his fortune increase by $10 billion thanks to his impressive bets on firms like Goldman Sachs (GS) and BYD, placed third.

Holding regular positions at the top of the Forbes' billionaires list are just one of the many experiences these world famous businessmen have shared.

The two men first met in 1991 when Gates was urged by his mother to attend a meeting where the Nebraska investor was present. Although the two hailed from different backgrounds, they still managed to hit it off immediately. Since the initial meeting, the two have developed a close-knit friendship based on a love for philanthropy, the game of bridge and, more recently, trash.

The most notable connection these two men have shared over the course of their nearly 20-year friendship has been their desire to help the world's poor and less fortunate.

Although Buffett heads his own charitable efforts, including the Susan Thompson Buffett Foundation, the financier made waves when in 2006 when he announced that he would donate the vast majority of his Berkshire Hathaway (BRK.A) shares to the Bill and Melinda Gates Foundation. At the time of the offer, this gift was valued at more than $30 billion.

The aim of the Bill and Melinda Gates Foundation is to battle global disease and poverty as well as fund U.S. education projects.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,063.61 +9.90 0.05%
S&P 500 2,092.58 +3.81 0.18%
NASDAQ 4,811.8050 +4.9460 0.10%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs