BILL GATES RETAINS TOP SPOT ON FORBES 400 LIST OF RICHEST AMERICANS

SINGAPORE (Bernama) - Microsoft founder Bill Gates has retained
his top spot on the Forbes 2011 ranking of the richest people in America with
US$59 billion.

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

George Soros in seventh spot, joins the Top 10 for the first time, with
US$22 billion, and is one of several of the 27 hedge fund managers – seven per
cent of the Forbes 400 – featured in "Hedged Fortunes".

This year, entrepreneurs dominate the ranks, comprising an all-time high of
70 per cent 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$3.8 billion, reflecting a 12 per cent 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$143 million 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$6 billion 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$10.6 billion.

Among the 42 women on the list are media mogul Oprah Winfrey (No.139) who
is fighting to revive her floundering cable network (Oprah Winfrey’s OWN
Battle), newcomer Gayle Cook (No.96) and Meg Whitman (No.331).