Posted on 09/22/2006 5:25:25 PM PDT by voletti
NEW YORK, SEPTEMBER 22: For the first time, Forbes magazine's list of the 400 richest Americans consists exclusively of people worth $1 billion or more.
As a group, the people who made the rankings released on Thursday are worth a record $1.25 trillion, compared to $1.13 trillion last year.
In the billionaire-athon, casino magnate Sheldon Adelson pole-vaulted to No 3 from 15 in last year's ranking, finishing behind the mainstays at Nos 1 and 2: Microsoft Corp founder Bill Gates and Warren Buffett of Berkshire Hathaway Inc.
Adelson is now estimated to have $20.5 billion, Buffett $46 billion and Gates $53 billion.
Gates has held the No 1 spot for the last 13 years while Buffett has been No 2 every year since 1994 except 2000, when Larry Ellison of Oracle Corp held that spot.
Adelson's expanding net worth is related in no small part to his decision to open a casino two years ago on the island of Macau, an emerging gambling haven off the southeastern coast of China.
Profits are growing rapidly thanks to the Las Vegas Sands Corp.'s Macau casino. Adelson personally and through family trusts controls 60 per cent of the company.
Forbes estimates Adelson earned about $1 million an hour over the past two years.
In the second quarter alone, the Sands Macau property saw net revenue jump to $310.4 million, up from $205.1 million a year ago.
Are any of them single? I have a sister. . .
LOL!
This billionaire crowd is rather unnerving, must say.
Yeah, I just missed the list again this year...
That's pretty good. But does he get dental and prescription eyeglass coverage?
/johnny
I checked the list. I'm not on it. Guess I'll be at work again on Monday.
The problem being that most of them got that way by being workaholics, so they don't get much chance to enjoy the money.
I, on the other hand, would find great enjoyment from that money, so if any of them would care to send it to me....
I can forward you the email I got from a distant relative in Nigeria -- he has millions just sitting around in a bank.
Down with Capitalism and Free Enterprise! /sarc
Not fair, they should share it with the poor and minorities < /Dim >
More power to them. As they get rich, we get more comfortable.
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