Billionaires form US' rich list

Billionaires form US' rich list
For the first time, the US' richest 400 tycoons all have a personal wealth of at least $1bn (£526m), according to Forbes magazine.

Microsoft boss Bill Gates kept top spot for a 13th consecutive year with investment guru-turned-philanthropist Warren Buffett in second place.

Casino and hotel owner Sheldon Adelson has leapt from 15th to third ranking.

The group as a whole are worth $1.25 trillion, compared with $1.13 trillion a year ago, Forbes said.

Four of the five names in the top ten came from the Wal-Mart owning Walton family.

THE TOP FIVE
Bill Gates - $53bn
Warren Buffett - $46bn
Sheldon Adelson - $20.5bn
Larry Ellison - $19.6bn
Paul Allen - $16bn
Source: Forbes

'$1m an hour'

Mr Adelson's surge in fortune comes largely from a decision to open a casino in Macau, an island off south-eastern China renowned for its gambling.

Forbes estimate he has been earning about $1m an hour for the past two years

Two of the other biggest earners were the founders of search engine Google.

Apple Computers chief executive Steve Jobs was 49th on the list, with $4.9bn.

This was the first time that to make the list of the top 400 fortunes in the US a minimum net worth of $1bn was required - up from $900m last year.

California is home to 90 of the 400 on the list, while another 44 live in New York.

Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/business/5369460.stm

Published: 2006/09/22 00:32:29 GMT

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