Gates tops Forbes’ billionaires list; Groupon co-founder drops off
ASSOCIATED PRESS September 19, 2012 10:32AM
This June 26, 2012 image provided by Forbes, and the pull-out cover for the magazine's Sept. 21 issue shows from left to right: Warren Buffett, Oprah Winfrey, Bill Gates, Melinda Gates, Pete Petersen, Leon Black, Jon Bon Jovi (seated on the ground), Marc Benioff, David Rubenstein, Steve Case, Laura Arrillaga-Andreessen, Marc Andreessen posing for a portrait in the Trustees Room at the New York Public Library in New York. The twelve individuals shown were part of a group attending a Forbes convened event called the Forbes 400 Summit On Philanthropy. During the event, the magazine's editors invited twelve of the leading philanthropists in the U.S. to pose for the portrait. (AP Photo/Forbes, Michael Prince)
Illinois’ 14 billionaires
103. Sam Zell, 70, Chicago, real estate, private equity: $3.8 billion.
128. Ken Griffin, 43, Chicago, hedge funds: $3.1 billion.
179. Jay Robert (J.B.) Pritzker, 47, Chicago, hotels, investments: $2.5 billion.
190. Ty Warner, 68, Oak Brook, Beanie Babies: $2.4 billion.
218. Thomas Pritzker, 62, Chicago, hotels, investments: $2.2 billion.
218. William Wrigley, Jr., 48, chewing gum, $2.2 billion.
229. Neil Bluhm, 74, Chicago, real estate, $2.1 billion.
239. J. Christopher Reyes, 58, Lake Forest, food distribution, $2 billion.
239. Jude Reyes, 57, Kenilworth, food distribution, $2 billion.
250. Jean (Gigi) Pritzker, 50, hotels, investments, $1.9 billion.
271. Penny Pritzker, 53, Chicago, hotels, investments, $1.8 billion.
297. Joe Mansueto, 56, Chicago, investment research, $1.65 billion.
311. James Pritzker, 61, Chicago, hotels, investments, $1.5 billion.
360. Patrick Ryan, 75, Winnetka, insurance, $1.2 billion.
The top 10 people on this year’s Forbes 400 list are:
1. Bill Gates, $66 billion
2. Warren Buffett, $46 billion
3. Larry Ellison, $41 billion
4. Charles Koch, $31 billion
5. David Koch, $31 billion
6. Christy Walton & family, $27.9 billion
7. Jim Walton, $26.8 billion
8. Alice Walton, $26.3 billion
9. S. Robson Walton, $26.1 billion
10. Michael Bloomberg, $25 billion
For the full list and story go to http://www.forbes.com/fdc/welcome_mjx.shtml
Updated: October 21, 2012 2:40PM
Forbes magazine’s list of the 400 richest Americans shows most of the rich got richer, but not the social media moguls.
Microsoft Corp. co-founder Bill Gates remains the nation’s richest man, taking the top spot on the Forbes 400 list for the 19th year running, with a net worth of $66 billion. The next closest billionaire is investor Warren Buffett, the head of Berkshire Hathaway Inc., who again took second with $46 billion.
Eric Lefkofsky, co-founder of Chicago-based Groupon dropped off the list only a year after making his debut, joining other social media moguls, who as a group took a big hit. Chicago native and Zynga Inc. founder Mark Pincus also dropped off the list.
Facebook’s Mark Zuckerberg was the biggest dollar loser in Forbes’ latest ranking of the 400 wealthiest Americans. The company’s lackluster IPO in May resulted in a huge drop in market value that cut the value of his shareholdings almost in half, costing him $8.1 billion in net worth. That dropped Zuckerberg from No. 14 on the list to No. 36.
Although Zuckerberg lost more money than most people will make in many lifetimes, his net worth still totals an estimated $9.4 billion, according to the magazine.
Forbes said the rich mainly got richer in 2012, with net worth rising for 241 members of its list and shrinking for only 66.
Fourteen Illinoisans made the list, with Sam Zell still topping them, even though he was one of only two with shrinking wealth. Zell’s worth shrank to $3.8 billion this year compared to $4.7 billion last year, and he fell from No. 66 to No. 103. Two others from Chicago fell off the list: Michael Krasny and Nicholas Pritzker.
Twenty newcomers joined the list, which required $1.1 billion in net worth for entry, up from $1.05 billion a year ago. Among the freshly minted are Shahid Khan, owner of the NFL’s Jacksonville Jaguars, at No. 179; Judy Faulkner, founder of health records firm Epic Systems, at No. 285; Andrew & Peggy Cherng, the husband and wife team behind restaurant chain Panda Express, at No. 239; and Twitter creator Jack Dorsey at No. 392. AP