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400 Rich Americans 2008

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400 richest americans
Forbes 400 Richest Americans List 2008
Review of the 400 wealthiest people in the United States of America,
according to the Forbes business magazine, 2008

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The Richest 400 Americans  2007 Forbes 400 Rich List - The Richest American People in 2008

On September 17, 2008 Forbes once again announced its list of the top 400 richest Americans. While past years have shown dramatic increases in the combined net wealth of these individuals, 2008 proved quiet different with a the net worth rising only 2% from 2007 to $1.57 trillion. In order to make the list this year, individuals needed to have at least $1.3 billion in assets, the same as in 2007.

The top ten spots of Forbes list remained almost the same as last year with Bill Gates at No.1 followed closely by investor Warren Buffett at No.2. Larry Ellison rounds out the top three with members of the Walton family, majority shareholders in the Walmart chain, rounding out most of the remaining top ten positions.

There were a lot of changes in ranks from the 2007 list. With fluctuations in stocks and casino shares, moguls like Sheldon Adelson, owner of the Las Vegas Sands, Kirk Kerkorian, king of the MGM Mirage chains, and the Google guys Sergey Brin and Larry Page all lost billions with falling stock prices. Adelson's net worth dropped by an estimated $1.5 million per hour after shares of his casino fell 75% from their highs in October 2007 and his total worth dropped by $13 billion as a result.

Other entrepreneurs, however, saw explosive success in 2008. Facebook creator Mark Zuckerberg made his debut on this years Forbes 400 with a net worth of $1.5 billion as did car dealer and art collector Norman Braman. John Paul DeJoria, the founder of the tequila brand Patron, also made the list this year.

Micheal Bloomberg, Mayor of New York City, while not new to the list, gained the most assets over the past year, raising his net worth by $8.5 billion.

Out of the 400 wealthiest Americans, two thirds have self-made fortunes. The others have either inherited or partially inherited their wealth. Their average net worth is $3.9 billion. Out of the 400 individuals on the list, only 42 are female.

Forbes researches and lists the top 400 wealthiest Americans every year. In order to determine the richest Americans, Forbes takes into account public and private investments of individuals, stakes in companies, and real estate. The declared wealth of the individuals on the list is estimated or approximated based on the value of their assets. Forbes' statistics usually reflect the lowest approximated value of their worth and each one is rounded to the nearest $100 million. Individuals with net worth in excess of $20 billion are rounded to the nearest billion.

The Forbes 400 of 2008 was determined based on the net worth of individuals as of August 29, 2008. With constant fluctuations in the stock market, Forbes understands that ranks on this list will change daily or even hourly based on market changes.

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top 10 rich list Richest Top 10

Top 10 richest people in United States 2008 according to the Forbes business magazine.
(All figures in American Dollars)

1. Bill Gates, $57 billion, Microsoft
2. Warren Buffett, $50 billion, Berkshire Hathaway
3. Larry Ellison, $27 billion, Oracle
4. Jim Walton, $23.4 billion, Wal-Mart
5. S Robson Walton, $23.3 billion, Wal-Mart
6. Alice Walton, $23.2 billion, Wal-Mart
6. Christy Walton & family, 23.2 billion, Wal-Mart
8. Michael Bloomberg, $20 billion, Bloomberg media company
9. Charles Koch, $19 billion, Koch Industries
9. David Koch, $19 billion, Koch Industries

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