Gates no longer country’s richest

As a result of the recent stock market and credit crisis, for the first time in 15 years Microsoft founder Bill Gates is no longer the richest person in America.

In fact, Warren Buffett now tops Forbes Magazine’s list of the wealthiest Americans.  According to the magazine, Gates has lost $1.1 billion, while Buffett has gained eight billion dollars.

Analysts cite the recent credit crunch and slumping economy for the flip flop on the list.