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Billionaires form US' rich list Billionaires rule US richest list
(about 8 hours later)
For the first time, the US' richest 400 tycoons all have a personal wealth of at least $1bn (£526m), according to Forbes magazine. For the first time, the richest 400 tycoons in the US all have a personal wealth of at least $1bn (£526m), Forbes magazine has reported.
Microsoft boss Bill Gates kept top spot for a 13th consecutive year with investment guru-turned-philanthropist Warren Buffett in second place.Microsoft boss Bill Gates kept top spot for a 13th consecutive year with investment guru-turned-philanthropist Warren Buffett in second place.
Casino and hotel owner Sheldon Adelson has leapt from 15th to third ranking.Casino and hotel owner Sheldon Adelson has leapt from 15th to third ranking.
The group as a whole are worth $1.25 trillion, compared with $1.13 trillion a year ago, Forbes said. The rich list as a whole is worth $1.25 trillion, compared with $1.13 trillion a year ago, Forbes said.
Four of the five names in the top ten came from the Wal-Mart owning Walton family. Four of the top ten came from the Wal-Mart owning Walton family.
THE TOP FIVE Bill Gates - $53bnWarren Buffett - $46bnSheldon Adelson - $20.5bnLarry Ellison - $19.6bnPaul Allen - $16bn Source: ForbesTHE TOP FIVE Bill Gates - $53bnWarren Buffett - $46bnSheldon Adelson - $20.5bnLarry Ellison - $19.6bnPaul Allen - $16bn Source: Forbes
'$1m an hour''$1m an hour'
Mr Adelson's surge in fortune comes largely from a decision to open a casino in Macau, an island off south-eastern China renowned for its gambling.Mr Adelson's surge in fortune comes largely from a decision to open a casino in Macau, an island off south-eastern China renowned for its gambling.
Forbes estimate he has been earning about $1m an hour for the past two years Forbes estimates that Mr Adelson has been earning about $1m an hour for the past two years.
Two of the other biggest earners were the founders of search engine Google.Two of the other biggest earners were the founders of search engine Google.
Apple Computers chief executive Steve Jobs was 49th on the list, with $4.9bn.Apple Computers chief executive Steve Jobs was 49th on the list, with $4.9bn.
This was the first time that to make the list of the top 400 fortunes in the US a minimum net worth of $1bn was required - up from $900m last year.
California is home to 90 of the 400 on the list, while another 44 live in New York.California is home to 90 of the 400 on the list, while another 44 live in New York.