World chess champion Magnus Carlsen has beaten Microsoft founder and billionaire Bill Gates in just nine moves in speed chess.

Gates and Carlsen played the game at a Norwegian chat show hosted by television presenter Fredrik Skavlan and before the game started, Gates joked and said that the challenge had "a predetermined outcome."

Gates, 58, had two minutes to make his moves while the 23-year old Carlsen was given just 30 seconds. However, Carlsen barely stopped for a second each time between his moves. Gates admitted defeat to Carlsen in less than 1 minute and 20 seconds.

"Wow, that was fast," Gates said to Carlsen, who has received the title of "Justin Bieber of chess."

Skavlan asked Gates under what circumstances he felt intellectually inadequate. Gates answered "When I play chess with him (Carlsen)."

In 2004, Carlsen became a grandmaster at the age of just 13 years and 148 days, making him the second youngest grandmaster in history at that time. On January 1, 2010, at the age of 19 years and 32 days, Carlsen became the youngest chess player in history to be ranked world No. 1. In November 2013, Carlsen beat defending world chess champion Viswanathan Anand of India to win his first world title.

While Carlsen's bout with Gates may have lasted less than two minutes, he has had to work hard to win the world chess championship title.

The World Chess Championship 2013 took place from November 9 through to November 22 in Chennai, India. Carlsen and Anand played 10 games at the tournament and the first four games of the match between the two players were drawn. Carlsen won the next two games but the seventh and eighth games were drawn again. Carlsen won the ninth game and the tenth game was drawn. Carlsen won the title without even letting Anand win a single game.

Gates may have a long way to go before he can beat Carlsen, but he can take comfort from the fact that he is the richest man on Earth. Gates reclaimed the title of the world's richest man and increased his fortune by $15.8 billion in 2013. According to the Bloomberg Billionaires Index, a daily ranking of the world's 300 richest individuals, Gates' fortune as of December 31, 2013 was estimated to be $78.5 billion.

Check out the video of the chess match between Gates and Carlsen below and let us know if you could have played a better move.

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