It is very interesting to see who is the new richest man in the world for 2008. Warren Buffet. The world’s most successful investor. His investments have netted him an average of 24% for over 40 years!
Warren Buffett $62 billion
Slim Helú $60 billion
Bill Gates $58 billion
Lakshmi Mittal $45 billion
Mukesh Ambani $43 billion
Anil Ambani $42 billion
Kamprad, Ingvar $31 billion
Kushal Pal Singh $30 billion
Oleg Deripaska $28 billion
Karl Albrecht $27 billion
As you can see, his net worth is currently a whopping $62 billion!
He has been in the top 10 richest men list for many years and in the top 5 for 2006 and 2007.
The reason this is specifically important with forex trading is that 24% per year is certainly an obtainable yearly target with solid, disciplined trading. Warren Buffet has clearly outlined the true potential of compounding in the long term.
Even with a relatively tiny account size of $10,000. At 24% per year the investment would be worth nearly $86,000. In 20 years it would be worth around $734,000 and in 40 years it would be worth $54,559,126.
OK, this amount will not make you the richest man in the world, but they could make life very comfortable!
