Bill Gates, the 58-year-old chairman of Microsoft, was recently ranked by Forbes as the second richest person in the world with a net worth of $67 billion. His lone challenger to that particular throne was and has for years been Carlos Slim Helu, a businessman at the head of Mexico’s telecommunications empire. However, Gates had another challenger entirely when he made an appearance on the Norwegian talk show NRK TV, and this time, his second place finish was a distant one.

Sometime during the talk show, Gates was challenged to a chess match with Magnus Carlsen, the reigning world champion of chess. Carlsen, a 23-year-old young man from Norway, is widely considered to be a wunderkind and a genius of the game. He’s even been called “the Justin Bieber of the game,” and while some may not find that description terribly flattering – especially given Bieber’s current criminal predicaments – Carlsen proved his skills to be undisputed in his brief match with Gates.

NRK TV set rules in an attempt to give Gates a handicapped advantage of sorts. The billionaire was given a two-minute maximum to plan his movies, compared to Carlsen’s much briefer 30-second time limit. The handicap didn’t matter much in the long run though, as Carlsen swiftly and decisively delivered a checkmate in just 79 seconds and nine moves. Gates never saw what hit him.

Gates was a good sport about the loss, however. Prior to commencing the chess match, the iconic businessman said that he would accept the challenge, even though he knew his loss was inevitable. After his quick defeat, Gates merely smiled and quipped, “That was fast” to the cameras. NRK TV host Fredrik Skavlan even asked the Microsoft chairman about which circumstances might make him feel “intellectually inadequate,” despite his years of unparalleled success. Perhaps unsurprisingly, that question received the wry response of “When I play chess with him!” and a playful point toward Carlsen.

Certainly, Gates had nothing to be ashamed of in losing to the 23-year-old chess whiz. Carlsen became a grandmaster of the game when he was only 13 years old, and has been playing in a highly competitive fashion ever since. Last November, Carlsen ascended to the highest position afforded to him in the chess community, earning a crown as the world champion of the game. His ultimate victory came against Viswanathan Anand, an Indian player and the defending world champ. Norway cheered on its native son faithfully and enthusiastically, giving the world chess championships and Carlsen’s path to victory around-the-clock television coverage.