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The World's Top 10 Billionaires

3. Warren Buffett

Net Worth: $50 billion UP
Source: Berkshire Hathaway
Citizenship: U.S.

The venerable investor's Berkshire Hathaway climbed more than 15 percent over the last year, adding $3 billion to his fortune. The 80-year-old is still hunting big deals: "Our elephant gun has been reloaded, and my trigger finger is itchy." Along with bridge partner Bill Gates, the Oracle of Omaha is coaxing America's richest to pledge half their fortunes to charity. "Too often a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse and long-standing friends." Buffett faked breathing problems when he was 12 so he could move back to Omaha from Washington, D.C., where his father was a freshman congressman. He had read every book about investing in stocks in the Omaha Public Library by the time he was 12. He met value investor Benjamin Graham at Columbia; bought textile firm Berkshire Hathaway 1965, and transformed it into massive holding company: food, insurance, utilities, industrials. Buffett acquired railroad giant Burlington Northern Santa Fe for $26 billion in 2009.

(Jemal Countess/Getty Images)

More from Forbes:

The World’s Richest Women Billionaires 2011
The World’s Youngest Billionaires 2011
Notable Newcomer Billionaires 2011

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