Microsoft Corp. co-founder Bill Gates is back as the world's richest person retaking the title from Berkshire Hathaway CEO Warren Buffett in the Forbes Magazine's 2009 billionaires' list released on Wednesday.

Despite losing $18 billion in 2008, Gates ended up with a total net worth of $40 billion, $3 billion more than Buffett's fortune. Buffett lost $25 billion from the devaluation of his company shares.

At the third spot is Mexican telecom titan Carlos Slim Helu with $35 billion in assets.

The Forbes' list shed off 355 billionaires who lost substantial fortunes due to the economic slowdown. The 793 billionaires who made it to this year's billionaires club had a combined fortune of $2.4 trillion.