Spare a thought for Richard, Bill and don’t forget Roman

The average UK citizen has been ravaged by the current financial situation and spend a lot of the time trying just to make ends meet till things get back to normal. There must have been moments of despair when all of us have said to ourselves, if only I was as rich as Sir Richard Branson, Roman Abramovich or the ultimate multi billionaire, Bill Gates.

However, those out there who are eating themselves up for those mega-rich people take a moment and spare a thought for them too. For they too have seen their considerable fortunes shrink considerably in the last twelve months. And when their fortunes shrink, we are talking about billions.

A recent report on the failing fortunes of the top ten of the UK. Wealthy reports that their fortunes have dwindled on average by 25% in 2008.

Among the biggest losers on the list of the biggest losers are entrepreneurs Sir Richard Branson and Sir Philip Green whose net worth has taken a very major tumble. However this would appear to be small change when you consider the rise and fall of Roman Abramovich, the London based Russian born oligarch. Reliable information has it that twelve months ago Abramovich enjoyed a net worth of $23.5 billion, making him the second richest person residing in the UK at that time, and the fifteenth richest person in the world. Only a year later his fortune is estimated to have crashed to around $15billion dollars, a loss of more close to 40% of its value. It’s no wonder that one of Abramovich’s favourite playthings, Chelsea FC is looking a little frayed around the edges these days.

Yet the UK citizen might take some little comfort in the fact that these reversals in fortunes are not being confined to the UK. Figures now show that even the number of people who fell into the category of billionaires have fallen from over eleven hundred in 2008 to less than eight hundred in March 2009.

Among the mega billionaires, Bill Gates and Warren Buffet both succeeded in losing enough money to finance a small country. In any event they were planning to devote their time and most of their massive personal fortunes to charity, little suspecting that they might become one themselves. While the chances seem remote, if they continue to lose money at the rate they did last year, it could happen, although it might take a while.

On the global list of fallen billionaires, Anil Ambani from India took the hardest thump. This time last year he was estimated to be the sixth wealthiest man on the planet with a net worth of close to $32billion. Today his fortune has sunk to a paltry $10 billion and even worse he has to face the ignominy of being 34th on the list of the World’s wealthiest people.

So take a moment to consider our position and w take comfort in the fact that the downturn has affected us all.

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Tags: Bill Gates, Economy, Finance, Financial News, Money, Roman Abramovich, Savings, Sir Philip Green, Sir Richard Branson