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Now who's the richest?

The Forbes 400 list is recalculated to reflect financial meltdown.

October 10, 2008|From Bloomberg News

Las Vegas Sands Corp. Chief Executive Sheldon Adelson's net worth declined $4 billion from Aug. 29 to Oct. 1, the steepest drop among Americans who lost $1 billion or more during the credit crisis, according to Forbes magazine.

The magazine, in its Oct. 27 issue, recalculates the effect of September's financial news on the wealthiest Americans, those who make up its Forbes 400 list. That list was published Sept. 17.

Berkshire Hathaway Inc. Chairman Warren Buffett overtook Microsoft Corp. co-founder Bill Gates as the richest American by posting an $8-billion gain to $58 billion during the period, the magazine said. Gates' net worth declined $1.5 billion to $55.5 billion during the 33-day period. He had been No. 1 for 15 consecutive years.

Dish Network Corp. Chief Executive Charles Ergen's net worth fell $2.2 billion to $5.9 billion. He had been 35th on the September list.

Oracle Corp. Chief Executive Larry Ellison's wealth dropped $1.6 billion to $25.4 billion, while the net worth of Google Inc. founders Sergey Brin and Larry Page each fell $1.5 billion. Investor Carl Icahn's holdings declined $1.6 billion to $12 billion, Forbes said.

Continental Resources Inc. Chief Executive Harold Hamm's holdings fell $1.5 billion to $7 billion, the magazine said. Computer company founder Michael Dell's fortune dwindled to $15.9 billion from $17.3 billion.

Houston billionaire Dan Duncan's holdings slid to $6.3 billion from $7.6 billion, while investor Kirk Kerkorian's wealth declined by $1.2 billion to $10 billion.

Amazon.com Inc. founder Jeffrey Bezos' holdings fell $1.1 billion to $7.6 billion. He was 33rd on the list published last month.

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