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Friday, 23 September 2011

Soros makes Forbes Top 10 rich list

SINGAPORE: Microsoft founder Bill Gates has retained his top spot on the Forbes 2011 ranking of the richest people in America with US$59bil.

The number two spot went to Warren Buffett with US$39bil and Larry Ellison (No. 3) with US$33bil.

George Soros (pic), in seventh spot, joins the Top 10 for the first time, with US$22bil, and is one of the 27 hedge fund managers – 7% of the Forbes 400 – featured in Hedged Fortunes.

George Soros
This year, entrepreneurs dominate the ranks, comprising an all-time high of 70% of the Forbes 400 members.

Enthusiasm for popular brands, like Starbucks and Forever 21, has helped boost some fortunes, while the spread of social media has sparked others.

The combined wealth of America’s richest is US$1.5 trillion, with an average net worth of US$3.8bil, reflecting a 12% uptick from 2010.

Wealth was up for 262 members of this year’s list, while 72 members saw a decline.

The Forbes 400 welcomed 18 new members in 2011 (Fresh faces), including Sean Parker (No. 200) who rocked the music industry with Napster and helped build Facebook (agent of disruption), John Henry (No. 375), majority owner of the Boston Red Sox and Liverpool FC, Jeffrey Skoll (No. 139) whose Participant Media’s most recent release, “The Help”, has grossed nearly US$143mil to date and Forever 21’s Jin Sook & Do Won Chang (No. 88).

Every member of the Top 20 gained wealth this year, with the exception of Buffett, down US$6bil from 2010, the largest dollar amount loss of any 400 member.

The year’s biggest dollar gainer is Mark Zuckerberg (No. 14), who cracked the Top 20 with a gain of US$10.6bil.

Among the 42 women on the list are media mogul Oprah Winfrey (No. 139) newcomer Gayle Cook (No. 96) and Meg Whitman (No. 331). – Bernama

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