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US `super-rich' rankings released

The economy is improving for the super rich.

After two years of declines, the total net worth of America's richest people rose 10 percent to US$955 billion this year from last year, according to Forbes magazine's annual ranking of the nation's 400 wealthiest individuals.

Microsoft Corp founder Bill Gates, who remained in the top spot, personified the trend toward increasing wealth. His fortune increased by US$3 billion to US$46 billion this year. Microsoft co-founder Paul Allen held third place, with his net worth rising US$1 billion to US$22 billion.

Investor Warren Buffett kept the No. 2 position although his wealth was unchanged at US$36 billion.

Forbes said the surge in collective net worth was largely due to gains in Internet stocks and tech fortunes. For example, Amazon's Jeff Bezos saw his fortune expand by more than US$3 billion to US$5.1 billion as the stock of the online retailer skyrocketed. Bezos was the top gainer on the list, and holds spot 32.

David Filo, co-founder of Yahoo, saw his net worth nearly triple to US$1.6 billion, tying him with 13 others for the 126th spot. Yahoo's other co-founder, Jerry Yang, also nearly tripled his fortune, but he shared the 162nd spot on the list with 16 others with a US$1.4 billion fortune.

Rounding out the top 10 were Oracle Corp chairman Larry Ellison with an US$18 billion fortune and Dell Inc CEO Michael Dell with a net worth of US$13 billion.

Dell replaced Microsoft executive Steven Ballmer in 10th place. Ballmer is now No. 11 with a nest egg of $12.2 billion.

Notable drop-offs from the list include Global Crossing Ltd founder Gary Winnick, whose company is in bankruptcy, and Motorola Corp CEO Robert Galvin, whose company is suffering from the malaise afflicting the wireless and chip-making industry.

Thirty-one year old Daniel Ziff is the youngest person on the list. He inherited his US$1.2 billion fortune.
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