24th annual edition of Forbes 400 Rich list released

Televisionpoint.com Team
For the third consecutive year, the rich got richer with the Forbes Magazine figures. In the 24th annual edition of the Forbes 400, the collective net worth of the United States wealthiest climbed $125 billion, to $1.13 trillion, Surging real estate and oil prices drove up several fortunes and helped pave the way for 33 new members, Forbes said.

Bill Gates, Microsoft Corp's Cofounder and Chairman, was the wealthiest person in the United States for the 11th straight year with a net worth of $51 billion. He was followed again by Berkshire Hathaway Inc Chairman and Chief Executive Warren Buffett's $40 billion, according to Forbes, which released its annual rankings yesterday.

Google Inc's initial public offering has netted its two cofounders an interesting side benefit, an entry into the upper echelons of Forbes magazine's list of the 400 richest Americans. Perhaps more noteworthy is the ascent of Google founders Sergey Brin and Larry Page, who were ranked 16th by Forbes with $11 billion each, up from No 43 last year when they each had a net worth of $4 billion.

According to Forbes, whose reporters assembled the list through a series of interviews and company filings with the Securities and Exchange Commission, Brin's and Page's post-IPO wealth is accruing at speeds faster than Gates' wealth after Microsoft went public. Collectively, the top 10 richest Americans saw their collective net worth climb US$ 125 billion, the magazine said. The poorest members of the list each had a net worth of US$ 900 million.

In the Media scenario, Sumner Redstone of Viacom was Ranked at Number 25, with Net worth of $million 8,400. Charles Ergen of EchoStar has a Net worth of $million 7,100, and is ranked at No. 30. Rupert Murdoch of News Corp has a Net worth of $million 6,700 and he is ranked at No. 32. Michael Rubens Bloomberg of Bloomberg has a Net worth of $million 5,100 and he is ranked at 40 th position.