Gates - once again - named richest in U.S.
By Joseph Galante, Bloomberg News
Published September 19, 2008 at 12:05 a.m.
Microsoft Corp. co-founder Bill Gates remained the richest person in the U.S. for the 15th straight year, followed by Berkshire Hathaway Inc. Chairman Warren Buffett, according to Forbes magazine.
Gates has a net worth of $57 billion compared with Buffett's $50 billion, said Forbes, which Thursday released its list of the 400 richest Americans. The total net worth of so-called Forbes 400 members rose 2 percent to $1.57 trillion, reflecting the volatility in the global economy, the magazine said.
To join the list, to be published in Forbes' Oct. 6 issue, members had to have a net worth of at least $1.3 billion, the same as last year. Eighty-nine billionaires didn't make the list this year, seven more than in 2007. Rising oil, commodity and art prices helped 31 new people make the list this year.
Larry Ellison, chief executive officer of Oracle Corp., was third on the list, with $27 billion. Jim Walton and S. Robson Walton of Wal-Mart Stores Inc. were fourth and fifth while Christy Walton and Alice Walton shared the sixth spot. The Waltons each had a net worth of more than $23 billion.
New York City Mayor Michael Bloomberg was eighth, with $20 billion, and Charles Koch and David Koch of Koch Industries Inc. rounded out the top 10, with $19 billion apiece.
Bloomberg was the biggest gainer on the list, jumping from No. 25 after he bought back a 20 percent stake in his company, the parent of Bloomberg News, from Merrill Lynch & Co. for $4.5 billion. The Walton family members moved into the Top 10 list as consumers facing an economic slowdown spent more at the world's largest retailer.
The biggest loser this year was Sheldon Adelson, Las Vegas Sands Corp. CEO, who fell to the 15th spot from the third, after casino stocks tumbled.
Colorado's wealthiest
35, Charles Ergen, $8.1 billion, Denver, EchoStar
36, Philip Anschutz, $8.0 billion, Denver Investments
190, James Leprino, $2.3 billion, Denver Cheese
190, John Malone, $2.3 billion, Parker Cable television
262, Pat Stryker, $1.8 billion, Fort Collins, Stryker Corp
321, Thomas Marsico, $1.5 billion, Cherry Hills Village, Marsico Funds
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September 19, 2008
6:33 a.m.
Suggest removal
suffernofools writes:
The Walton family is sure making a lot of money off of all their "Made in China" merchandise.
September 19, 2008
8:44 a.m.
Suggest removal
pdt2139 writes:
So suffernofools people are forced to shop at Wal-Mart or they choose to do so? We can do something about if they are forced to by China goods but if they purchase it by free will then where is the problem?