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HindustanTimes Fri,24 Oct 2014

Zuckerberg 'biggest dollar loser' on Forbes list

ANI  Sydney, September 20, 2012
First Published: 13:05 IST(20/9/2012) | Last Updated: 13:07 IST(20/9/2012)

Facebook co-founder Mark Zuckerberg is possibly ‘biggest dollar loser’ in Forbes' latest ranking of the 400 wealthiest Americans after he fell from No.14 to No.36 on the list, thanks to the social website’s lackluster IPO in May.

The highly-touted IPO, which witnessed a debacle on the New York Stock Exchange (NASDAQ), resulted in a huge drop in Facebook’s market value and cut the value of Zuckerberg’s shareholdings to almost half, costing him 8.1 billion dollars in net worth.

Microsoft Corp. co-founder Bill Gates continues to remain the richest American by far, as he took the top spot on ‘The Forbes 400’ list for the 19th consecutive year, with a net worth of 66 billion dollars, the News.com.au reports.

According to the report, investor Warren Buffett, the head of Berkshire Hathaway Inc., again took second position on the list with 46 billion dollars, while Oracle Corp. co-founder Larry Ellison remains third with 41 billion dollars and brothers Charles and David Koch, co-owners of Koch Industries Inc., tied for fourth with 31 billion dollars.

The Forbes 400 list, which ranked the wealthiest people in the United States, said that the rich mainly got richer in 2012, with net worth rising for 241 members of its list and shrinking for only 66. Rising stock prices, a rebound in real estate values and rare art prices also helped, the report said.

New York City Mayor Michael Bloomberg, who made his fortune with the financial data services firm Bloomberg LP, is also back with the top dogs at No.10 with an estimated net worth of 25 billion dollars, it added.

The top 10 people on the Forbes 400 list are:

 Bill Gates - 66 billion dollars
 Warren Buffet – 46 billion dollars
 Larry Ellison - 41 billion dollars
 Charles Koch and David Koch – 31 billion dollars
 Christy Walton and family - 27.9 billion dollars
 Jim Walton – 26.8 billion dollars
 Alice Walton – 26.3 billion dollars
 S. Robson Walton – 26.1 billion dollars
 Michael Bloomberg – 25 billion dollars


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