Gates, Buffett again top list

Text Size: AaAaAaAaAa

NEW YORK (AP) – Microsoft Corp. co-founder Bill Gates remains the nation’s richest man by far, as the tech and philanthropy giant took the top spot on the Forbes 400 list for the 19th year running, with a net worth of $66 billion.

Investor Warren Buffett, the head of Berkshire Hathaway Inc., again took second with $46 billion, while Oracle Corp. co-founder Larry Ellison remains third with $41 billion and brothers Charles and David Koch, co-owners of Koch Industries Inc., tied for fourth with $31 billion.

Forbes said the rich mainly got richer in 2012, with net worth rising for 241 members of its list and shrinking for only 66. Rising stock prices, a rebound in real estate values and rare art prices helped.

More members of the Walton family, the founders of Wal-Mart Stores Inc., moved up into the Top 10, displacing investor George Soros and Las Vegas Sands Corp. founder Sheldon Adelson. New York City Mayor Michael Bloomberg, who made his fortune with the financial data services firm Bloomberg LP, is also back with the top dogs at No. 10 with an estimated net worth of $25 billion.

Social media moguls took the biggest hit. Zynga Inc.’s Mark Pincus and Groupon Inc.’s Eric Lefkofsky dropped off the list entirely. Facebook’s Mark Zuckerberg was the biggest dollar loser in Forbes’ latest ranking of the 400 wealthiest Americans. The company’s lackluster IPO in May resulted in a huge drop in market value that cut the value of his shareholdings almost in half, costing him $8.1 billion in net worth. That dropped Zuckerberg from No. 14 on the list to No. 36.

But despite Zuckerberg’s huge loss, his net worth still totals an estimated $9.4 billion, according to the magazine.

Twenty newcomers joined the list, which required $1.1 billion in net worth for entry, up from $1.05 billion a year ago.

There are 45 women on the list, up from 42 a year ago, including Oprah Winfrey at No. 151.

The top 10 people on this year’s Forbes 400 list are:

— Bill Gates, $66 billion

— Warren Buffett, $46 billion

— Larry Ellison, $41 billion

Previous Page|1||

Comments

Blogs

» Out Here
Out Here

Watch where you sit

On Tuesday, the Lee County Board voted 12-9 to approve a proposed wind farm in the southwestern part of the county. That happened after 27 sessions of a public hearing held by the Zoning Board of Appeals. Is everyone wiser for it?
» Out Here
Out Here

Good or bad? Depends on who you ask

Sometimes readers ask for more good news in the paper. They say we in the media only cover the bad. But one person's positive is another's negative.

Reader Poll

Memorial Day weekend heralds the arrival of summer vacation season. How much time do you plan to spend on vacation?

1 week
2 weeks
3 or more weeks
No vacation this year