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Reuters: Buffet New Richest Man in America - Gates Loses $1.5 Billion [View All]

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featherman Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-10-08 09:50 PM
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Reuters: Buffet New Richest Man in America - Gates Loses $1.5 Billion
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NEW YORK (Reuters) - Billionaire investor Warren Buffett is again the richest American, deposing Microsoft co-founder Bill Gates, after Forbes magazine recalculated the fortunes of some of the 400 wealthiest Americans.

The magazine took another look at the fortunes of some of the billionaires on its Forbes 400 list to assess the effect of the worst financial crisis since the 1930s Depression and released a select list naming some of those hit hard.

But while 17 billionaires on Forbes list lost more than $1 billion in the past month, Buffett managed to boost his wealth by $8 billion to $58 billion, pushing him ahead of Gates, whose fortune fell to $55.5 billion from $57 billion.

Gates had been ranked No. 1 on the Forbes 400 list for the past 15 years with his Microsoft fortune.

http://www.reuters.com/article/topNews/idUSTRE4991X7200...

"A billion here, a billion there... pretty soon you're talking real money"

Also of interest: John's McCain's favorite billionaire, casino magnate Sheldon Adelson, was "hardest hit" losing $4 Billion. LOL
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