The world's richest in 2009

As hundreds of billionaires disappeared in last year's financial carnage, Microsoft's Bill Gates regained the No. 1 spot despite losing nearly $20 billion.

The world has become a wealth wasteland.
Like the rest of us, the richest people in the world have endured a financial disaster over the past year. Today there are 793 people on our list of the world's billionaires, a 30% decline from a year ago.
Of the 1,125 billionaires who made last year's ranking, 373 fell off the list -- 355 saw declining fortunes, and 18 died. There are 38 newcomers plus three moguls who returned to the list after regaining their 10-figure fortunes. It is the first time since 2003 that the world has had a net loss in the number of billionaires.

The world's richest are also a lot poorer. The collective net worth of this year's 793 billionaires is $2.4 trillion, down $2 trillion from the total wealth of last year's 1,125 billionaires. The average net worth of those on the list fell 23% to $3 billion. The last time the average was that low was in 2003.

Microsoft's Bill Gates lost $18 billion but regained his title as the world's richest person. Warren Buffett, last year's No. 1, saw his fortune decline $25 billion as shares of Berkshire Hathaway fell 40% in 12 months, but he still managed to slip just one spot, to No. 2. Mexican telecom titan Carlos Slim Helú, No. 2 a year ago, also lost $25 billion and dropped to No. 3.
It was hard to avoid the carnage -- in stocks, in commodities, in real estate, in technology and elsewhere. Even people running profitable businesses were hammered by frozen credit markets, weak consumer spending or declining currencies.

The biggest loser in the world this year, by dollars, was last year's biggest gainer. India's Anil Ambani lost $32 billion -- 76% of his fortune -- as shares of his Reliance Communications, Reliance Power and Reliance Capital all collapsed.
Ambani is one of 24 Indian billionaires, all but one of whom are poorer than a year ago. An additional 29 Indians lost their billionaire status entirely as India's stock market tumbled 44% in the past year and the Indian rupee depreciated 18% against the dollar. It is no longer the top spot in Asia for billionaires, ceding that title to China, which has 28.

Russia became the epicenter of the world's commodity bust, dropping 55 billionaires -- two-thirds of its 2008 crop. Among them: Dmitry Pumpyansky, an industrialist from the resource-rich Ural Mountain region, who lost $5 billion as shares of his pipe producer, TMK, sank 84%. Also gone is Vasily Anisimov, the father of Anna Anisimova, the Paris Hilton of Moscow. Anisimov lost $3.2 billion as the value of his Metalloinvest, one of Russia's largest ore mining and processing companies, fell along with his real-estate holdings.
Twelve months ago Moscow overtook New York as the billionaire capital of the world, with 74 tycoons to New York's 71. Today there are 27 in Moscow and 55 in New York.
After slipping in recent years, the U.S. is regaining its dominance as a repository of wealth. Americans account for 44% of the money and 45% of the list's slots, up 7 and 3 percentage points, respectively, from last year. Still, the U.S. has 110 fewer billionaires than it did a year ago.