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TECHNOLOGY | BRIEFLY

Tech Boom Spawns Millionaires, Survey Says

September 22, 1997|Associated Press

The boom in technology stocks is churning out millionaires as the industry continues to grant employees more stock options than any other, Forbes ASAP magazine says. Microsoft Corp. Chairman Bill Gates, worth about $38.66 billion, heads the magazine's first list of technology's 100 richest people. Microsoft has 12 millionaires on the list--more than any other company. The list has 11 billionaires, including the chairmen of Oracle Corp., Intel Corp. and Dell Computer Corp. But technology's wealth has trickled down, Forbes ASAP says in its Oct. 6 edition--computer firms reserve 16% of outstanding shares for employee-option programs.

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