Bill Gates: I Don't Want to Be World's Richest Man

In news that will either gladden or enrage non-billionaires everywhere, Bill Gates has revealed that he would rather not be the world's richest man.

"I wish I wasn't ... There's nothing good that comes out of that," the co-founder of Microsoft told a conference of online advertising executives in Redmond, Washington, where the software company has its headquarters. "You get more visibility as a result of it."

Forbes magazine estimates Mr Gates' personal fortune at about $50bn (£27bn).

Because of the scale of his wealth, it has been said that it would not be worth his while to bend down to pick up $10,000 lying in the street, though the claim does not stand up to much mathematical scrutiny. He appeared to be objecting to being number one on the list, rather than being well-off.

Far from "nothing good" having come out of his wealth, the Bill and Melinda Gates Foundation is the world's biggest philanthropic organisation, with an endowment of $29.1bn, and fights Aids, malaria, tuberculosis and malnutrition.

If he did bend down to pick up the $10,000, it is not clear that anyone would notice. Renowned for his bland manner and dress sense, Mr Gates told the conference he was "not bothered when I'm out in public or anything. Someone might ask for a signature, rarely, but that's not a difficult thing."

He was adamant he would not pursue a higher profile for his activities by seeking elected office. "I certainly will never be a politician," he said. When asked for his reasons, he responded: "For every reason. I wouldn't like it. I wouldn't be elected. I'm better at what I'm doing."

The person from whom he had learned the most, he said, was Warren Buffett, the investor who is one place behind him on the Forbes ranking. "He has this very refreshing, simple way of looking at things so I put him top of the list," Mr Gates said.

Microsoft's dominance of the computer industry has been eroded in recent years, not least by Google. But Mr Gates said his firm would unveil new applications that would help claw back ground. "I think this is a rare case where we are being underestimated," he said.