 |
| TWarren
Buffet,left, second with billion; and Paul Allen third
with 21 Billion |
The rich are getting less rich in America.
For the second straight year but only the fourth time in 20 years
of rankings, the combined net worth of Forbes magazine's 400 wealthiest
Americans declined this year, reflecting the economy's continuing
troubles.
Their total net worth of 2 billion was down from 6 billion
in 2001 and .2 trillion in 2000.
Even the benchmark for being ranked dropped. The 2002 survey
included individuals with a minimum net worth of 0 million
- down from the required 0 million in 2001.
The top 10 remained the same, with some reshuffling of the order.
The biggest loser on the list released Friday was also the richest
person: Microsoft co-founder Bill Gates.
Gates lost billion for a net worth of billiin. He now
has lost billion since the tech meltdown began in 2000, due
largely to the drop in value of his Microsoft shares.
The biggest winner was investor Warren Buffett, who remained
No. 2 on the list. His net worth increased - to billion from
.2 billion.
Microsoft co-founder Paul Allen also maintained his ranking -
third - but saw his net worth fall to billion from .2 billion.
Five relatives of the late Sam Walton, founder of Wal-Mart Stores
Inc., tied for fourth. Their net worth increased to .8 billion
each from .5 billion in 2001, thanks to strong consumer spending.
Oracle chief executive Larry Ellison, who fell from second in
2000 to fourth in 2001, dropped to ninth this year. He's now worth
.2 billion, down from .9 billion last year.
Forty-six women made the list, including the three granddaughters
of oilman J. Paul Getty. They each inherited 0 million in 1986.
The youngest among the 400 was 30-year-old Daniel Ziff, who shares
a .2 billion inheritance from his father William Ziff Jr. with
his two brothers, ages 34 and 38.
The oldest person on the survey is 94-year-old Max Fisher, who
made his fortune in oil and steel. "I'm not a billionaire,"
he said. But he's not that far from it, according to Forbes, with
a net worth of 0 million.
(Agencies)
Updated: 2002-09-18 01:00
