For the second year in a row, Bill Gates tops the exclusive 2009 Forbes 400, the yearly list of the richest people in America. However, it's the first time in seven years that the rich got poorer. Not in the sense of the average guy getting by, but they didn't gain income as is usually the case. Bill Gates lost $7 billion since September 2008 and now has a net worth of $50 billion.
Warren Buffet ranks as America's second richest citizen in the Forbes 400 list and also as the biggest loser. His fortune declined by $10 billion in 12 months due share of Berkshire Hathaway falling 20% in 12 months. His nest-egg is now valued at $40 billion.
The top ten list did not change but the amount of their fortunes did. Compared to 126 in 2008, there were 314 people who lost money in 2009.
The youngest billionaire is Facebook founder Mark Zuckerberg, 25, who is worth $2 billion. If Facebook keeps growing, Zuckerberg could find himself in the top 10 one day.
Six members of the Forbes 400 list died. Among them was GAP co-founder Donald Fisher who passed away on September 27 at the age of 81. He ranked number 296 on the list.
This year's Forbes 400 list, with the rich losing some of their massive fortunes, takes into account last year's stock market crash. This caused the economy to falter and property prices to take a nose-dive. The rich help make the trends, spend money and set the overall theme for the country when it comes to the economy. If they are "down" a few million, the country is strangely affected. The rich certainly control the economy.
The average age of those in the Forbes 400 is about 66 years old. Out of the 400, there are 274 who created their own wealth. The oldest on the Forbes list is John Kluge, television mogul, who is now 95.
Written by Cheryl Phillips
Exclusive to HULIQ.com
source: Forbes.com
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