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| US meltdown robs $300 bn from America's wealthiest: Forbes |
| Press Trust Of India / New York Oct 02, 2009, 00:36 IST |
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Hit by stock market meltdown, America’s richie-rich club got poorer by $300 billion, but software czar Bill Gates, with a net worth of $50 billion, remained the richest in the US for the 16th straight year.
Gates is followed by his friend and legendary investor Warren Buffett ($40 billion) on the business magazine Forbes’ annual ranking of America’s 400 richest persons, which also includes at least four persons of Indian origin.
Among India-origin people, Bharat Desai and family of IT firm Syntel is ranked 212th ($1.65 billion), venture capitalist and one of the founder directors of Google Kavitark Ram Shriram at 272nd ($1.45 billion), software entrepreneur Romesh Wadhwani and family at 277th ($1.4 billion) and venture capitalist Vinod Khosla at 347th ($1.1 billion).
Forbes said “almost all of America’s wealthiest citizens are poorer this year” and it is only for the fifth time since 1982 that the collective net worth of The Forbes 400 — the annual tally of the nation’s richest people — has declined.
Their collective wealth plummeted by $300 billion in the past 12 months from $1.57 trillion to $1.27 trillion. Faltering capital markets and real estate prices, along with divorce and fraud, pushed the fortunes of 314 members down and drove 32 plutocrats off the rankings.
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