Sep 20, 2012, 09.24 AM IST
The net worth of the richest Americans grew by 13 percent in the past year to $1.7 trillion, Forbes magazine said on Wednesday. It includes the list of the US uber-elite, including Bill Gates, Warren Buffett, Larry Ellison and the Koch brothers.
The average net worth of the 400 wealthiest Americans rose to a record $4.2 billion, the magazine said.
Collectively, this group's net worth is the equivalent of one-eighth of the entire U.S. economy, which stood at $13.56 billion in real terms according to the latest government data. But the 13 percent growth in the wealth of the richest Americans far outpaced that of the economy overall, helping widen the chasm between rich and poor.
Bill Gates, the chairman of Microsoft Corp
Warren Buffett, chairman and chief executive of insurance conglomerate Berkshire Hathaway Inc
The ranks of the top five were unchanged from a year earlier.
Two notable names dropped from the top 10, however. Casino magnate Sheldon Adelson, also active in conservative political causes, fell to the 12 spot from No. 8 last year, and financier George Soros dropped five spots to No. 12 from the No. 7 position one year ago.
The disappointing stock market debut of Facebook Inc
Video of the day
Dec 11 2013, 09:54
- in Business
Dec 4 2013, 11:08
- in FII View
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.