Forbes top 400 lose $US300 billion during financial crunch
The United States’ 400 wealthiest citizens have lost $US300 billion of net worth over the last financial year due to the global financial crisis.
Warren Buffett lost $US10 billion of net worth due to share price drops in his firm Berkshire Hathaway, now worth $US40 billion.
Bill Gates’ tumbled US$7 billion from last year. The Microsoft Corp founder is now worth $US50 billion.
Oracle Corp founder Lawrence Ellison, ranked as the country’s third richest person, was the only one of the top 10 to not suffer a loss. His net worth remained constant at $US27 billion.
100 top richest persons combined lost almost US$40 billion and the net worth of all 400 combined fell 19%, from $US1.57 trillion to $US1.27 trillion.
For more information. Please visit forbes.
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