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Major Cash Needed for Forbes List: More Than a Billion
Sep 24, 2007
It takes a whole lot more than it used to just to make an appearance on the Forbes list of the richest 400 Americans. The latest ranking of the nation's wealthiest people from Forbes magazine is a richer list than ever before. There are familiar names atop the list. Bill Gates of Microsoft is number-one, with an estimated fortune of $59 billion.
There are familiar names atop the list. Bill Gates of Microsoft is number-one, with an estimated fortune of $59 billion. He was followed by Warren Buffett of Berkshire Hathaway in second place with an estimated $52 billion and Sheldon Adelson, a casino mogul, was third with an estimated worth of $28 billion.
"Wall Street really led the charge this year," said Matthew Miller, editor of the Forbes list. "God only knows if they'll be on it next year. It really just depends on what the market does." The Hollywood reporter points out that while only Americans are eligible, Forbes notes that Gates, with $59 billion, may or may not be the richest person in the world, depending on which day it is and where Microsoft stock is trading.
Challenging him for the title is Carlos Slim Helu, the Mexican telephone billionaire who has stakes in Univision Communications, Grupo Televisa and other media outfits. When the list was compiled, Slim Helu was a scant $500 million behind Gates, and Forbes noted that a $2 drop in MIcrosoft shares could cause Gates to be just the second-wealthiest man in the world.
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