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Gates 'no longer world's richest man'

Microsoft billionaire Bill Gates has been superseded ...

Microsoft billionaire Bill Gates has been superseded by a supermarket tycoon for the title of the world's richest man, according to the Sunday Times Rich List.
Robson Walton, owner of supermarket chains Wal-Mart and Asda, has amassed a fortune worth ?45.3bn - ?8bn more than Gates.

Gates' fall from the top spot is accredited by the paper on the fall in technology stocks, which has hit Microsoft hard. His personal wealth has fallen from ?53bn to ?37.5bn, according to the Sunday Times.

The richest man in Britain is the Duke of Westminster whose ?4.4bn fortune from property in the Mayfair and Belgravia areas of London has moved him up one place into top spot.

The newspaper's annual Rich List, published on Sunday, reveals the 1,000 richest people in Britain, the richest Britons living abroad and the richest people in the world. But the figures are estimates with few of those on the list willing to confirm details of their fortunes

Worldwide, the list shows some of the wealthiest people come from backgrounds as varied as computers, oil, supermarkets, confectionery and the media.

To earn a place in the top 1,000 in the UK, individuals need to be worth more than ?35m.

The Queen, who celebrated her 75th birthday on Saturday, has seen her fortune rise by ?25m this year to ?300m, pushing her up one place to equal 105th

Author JK Rowling, the creator of the best selling Harry Potter books, is one of only 69 women on the list.

Her wizard writing skills have earned her ?65m.

The Duke of Westminster moves up from second place overtaking Hans Rausing's food packaging business which had been top of the list for the last two years.

A rise in the property market has seen the duke's fortune rise from ?3.7bn last year to ?4.4bn this year.