To be on Forbes US rich list, you need at least $1.3 bn

A billion dollars just doesn’t go as far as it used to. For the first time, it takes more than $1 billion to earn a spot on Forbes magazine’s list of the 400 richest Americans...

A billion dollars just doesn’t go as far as it used to. For the first time, it takes more than $1 billion to earn a spot on Forbes magazine’s list of the 400 richest Americans.

The minimum net worth for inclusion in this year’s rankings released yesterday was USD 1.3 billion, up $300 million from last year.

The new threshold meant 82 of America’s billionaires didn’t make the cut. Collectively, the people who made the rankings released yesterday are worth USD 1.54 trillion, compared with $1.25 trillion last year.

Story continues below this ad

The very top of the list was unchanged: Microsoft Corp founder Bill Gates led the list for the 14th straight year, this time with a net worth estimated at $59 billion.

He was followed by Warren Buffett of Berkshire Hathaway Inc in second place with an estimated $52 billion and casino mogul Sheldon Adelson, No 3 with an estimated worth of $28 billion.

Larry Ellison of Oracle Corp maintained his ranking at No 4, with an estimated net worth of USD 26 billion. But the list showed some notable changes. Joining the top 10 of the country’s richest for the first time were Google Inc founders Sergey Brin and Larry Page, who tied for fifth place. The 34-year-old moguls’ wealth has quadrupled since 2004 to an estimated USD 18.5 billion this year, while their company’s stock value has surged 500 per cent.

Police personnel seen to control the situation during a massive protest over the statehood demand and the inclusion of Ladakh under the Sixth Schedule, in Leh on Wednesday. (ANI Video Grab)

Statehood protest takes violent turn in Ladakh, BJP office set ablaze in Leh

India8 hr ago

Protests in Ladakh turned violent as students and youth organisations demanded statehood and Sixth Schedule status. Two elderly protesters fainted, prompting a shutdown call. A BJP office and security vehicle were set on fire. Activist Sonam Wangchuk urged for a peaceful approach. The demand for Sixth Schedule status is due to Ladakh's tribal-majority population and direct central administration.

View all shorts

Live Blog