Gates again tops Forbes list of richest Americans
Social media billionaires including Mark Zuckerberg drop down ranking
The Associated Press
Posted: Sep 19, 2012 2:36 PM ET
Last Updated: Sep 19, 2012 4:40 PM ET
Facebook CEO Mark Zuckerberg saw his wealth decrease by almost half after his company's disastrous IPO. (Paul Sakuma/Associated Press)
Related
Related Stories
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.
Walton wealth grows
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 lacklustre 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 although Zuckerberg lost more money than most people will make in many lifetimes, his net worth still totals an estimated $9.4 billion, according to the magazine.
Newcomers join list
Twenty newcomers joined the list, which required $1.1 billion in net worth for entry, up from $1.05 billion a year ago. Among the freshly minted are Shahid Khan, owner of the NFL's Jacksonville Jaguars, at No. 179; Judy Faulkner, founder of health records firm Epic Systems, at No. 285; Andrew & Peggy Cherng, the husband and wife team behind restaurant chain Panda Express, at No. 239; and Twitter creator Jack Dorsey at No. 392.
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 US
- Warren Buffett, $46 billion
- Larry Ellison, $41 billion
- Charles Koch, $31 billion
- David Koch, $31 billion
- Christy Walton & family, $27.9 billion
- Jim Walton, $26.8 billion
- Alice Walton, $26.3 billion
- S. Robson Walton, $26.1 billion
- Michael Bloomberg, $25 billion
Share Tools
Top News Headlines
- 2 men jailed in Dominican wedding fight return to Canada
- Two Canadian men who were detained in the Dominican Republic for nearly three weeks after a post-wedding fight broke out at a resort have returned to Toronto, the latest step in a drama that the wife of one of the men said was "like a scene from the movies." more »
- Senators call for 'zero tolerance' on harassment in RCMP
- The RCMP should amend its code of conduct to explicitly define and prohibit harassment, a Senate committee is recommending in a newly tabled report. more »
- Are e-cigarettes safe to puff?
- As electronic or e-cigarettes grow in popularity, some health advocates want them to be regulated. more »
- Most groups don't want return of Trudeau speaking fees
- Most of the 17 charitable and other organizations that have paid speaking fees to Liberal Leader Justin Trudeau during his time as an MP say they aren't interested in having their fees returned, despite Trudeau's offer on the weekend to reimburse any organization unhappy with his services. more »
Must Watch
Latest Business Headlines
- Tim Hortons being circled by Wall Street hedge funds
- At least two groups of American hedge funds have bought large chunks of Tim Hortons shares recently, a sign the activist investors want to push the company to make major changes to its business, or possibly give up some control over the company. more »
- Chrysler agrees to recall 2.9 million Jeep SUVs in U.S., Canada
- Chrysler avoided a showdown with U.S. government safety regulators Tuesday, agreeing to recall 2.7 million older Jeep Grand Cherokee and Liberty SUVs in the U.S. and 256,000 in Canada that could be at risk of a fuel tank fire. more »
- Leaders downplay reports of stalled Canada-EU trade talks
- Both Prime Minister Stephen Harper and his British counterpart, David Cameron, downplayed signs of trouble in the Canada-EU trade negotiations Tuesday, even as the European Union's spokesman suggested Canada hasn't shown enough "pragmatism and flexibility" at the table. more »
- Business jets dominate Bombardier's $2B in sales at air show
- Business jets dominated the aircraft orders announced by Bombardier on Tuesday, the second day of the Paris Air Show, accounting for most of the nearly $2 billion US worth of business that the Montreal-based company has done at the show — if all options are exercised. more »
- Crowdfunding websites trying to cash in on crowded field
- Success stories make it seem like crowdfunding websites drop cash from the heavens on to any deserving idea. But regulators and big banks are now taking a closer look at the controversial new field, Dianne Buckner writes. more »
Lang & O'Leary Exchange
Markets
| Index | Last Trade | Change |
|---|---|---|
| TSX COMPOSITE | 12367.46 | 78.56 |
| DOW | 15318.23 | 138.38 |
| NASDAQ | 3482.18 | 30.05 |
| SP 500 | 1651.81 | 12.77 |
| TSX-VENTURE | 929.99 | -4.05 |
The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.
- 2 men jailed in Dominican wedding fight return to Canada
- Police probe death of woman, 27, in Kelowna home
- Most groups don't want return of Trudeau speaking fees
- Parents of son 'brutally beaten' playing hockey want charges
- Huge ancient city at Angkor Wat revealed by lasers
- Are e-cigarettes safe to puff?
- Montreal mayor resigns amid corruption charges
- TV chef Nigella Lawson's husband cautioned by police for assault
- Disabled woman's care before dying on bus still a mystery

