Gates, Buffett again top Forbes’ billionaires list

NEW YORK — Microsoft Corp. co-founder Bill Gates remains the nation’s richest man by far, as the tech and philanthropy giant took the top spot on the Forbes 400 list for the 19th year running, with a net worth of $66 billion.

Investor Warren Buffett, the head of Berkshire Hathaway Inc., again took second with $46 billion, while Oracle Corp. co-founder Larry Ellison remains third with $41 billion and brothers Charles and David Koch, co-owners of Koch Industries Inc., tied for fourth with $31 billion.

Forbes said the rich mainly got richer in 2012, with net worth rising for 241 members of its list and shrinking for only 66. Rising stock prices, a rebound in real estate values and rare art prices helped.

More members of the Walton family, the founders of Wal-Mart Stores Inc., moved up into the Top 10, displacing investor George Soros and Las Vegas Sands Corp. founder Sheldon Adelson. New York City Mayor Michael Bloomberg, who made his fortune with the financial data services firm Bloomberg LP, is also back with the top dogs at No. 10 with an estimated net worth of $25 billion.

Social media moguls took the biggest hit. Zynga Inc.’s Mark Pincus and Groupon Inc.’s Eric Lefkofsky dropped off the list entirely. 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.

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; and Andrew &Peggy Cherng, the husband and wife team behind restaurant chain Panda Express, at No. 239.

More in Herald Business Journal

Amazon lists 20 finalists for HQ2, and no, we aren’t on it

Los Angeles was the only West Coast city listed. They seem to like the nation’s capital.

Strange and wonderful creatures come through door of Bothell clinic

At the Center for Bird and Exotic Animal Medicine, vets treat snakes, hedgehogs and even kangaroos.

Emirates orders 20 more Airbus A380 jumbos, saving program

The Dubai carrier also has options to buy 16 more. The program seems safe until 2029.

How do you retrieve an errant Boeing 737 from a muddy slope?

Turkish authorities used cranes to lift a plane that skidded off a runway.

Amanda Strong (left) tries on an Angel of the Winds Arena hat as she and Courtney Brown hand out gift bags after the renaming ceremony Dec. 13 in Everett. The new name replaces the Xfinity name. (Andy Bronson / Her file)
Angel of the Winds to break ground on $60M casino expansion

“We think we’re on the cusp of becoming a major resort.”

House passes bill aimed at lowering gender wage gap

The bill would hinder employers from retaliating against female workers who ask about others’ pay.

Planemaker joins forces with auto-industry supplier Adient

The new venture poses a threat to Zodiac Aerospace and Rockwell Collins

Alaska Airlines has selected destinations for new service from Paine Field. (Alaska Airlines)
Alaska Airlines will fly from Everett to 8 West Coast cities

Two destinations that didn’t make the list were Spokane and Hawaii.

Glitches slow Boeing, SpaceX plans for human spaceflight

Boeing has an issue with its abort system that may cause the spacecraft to “tumble.”

Most Read