Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, July 5, 1995 TAG: 9507050105
SECTION: NATL/INTL PAGE: A-1 EDITION: METRO
SOURCE: Associated Press
DATELINE: NEW YORK LENGTH: Medium
Gates' wealth rose from $8.1 billion during the past year as Microsoft's stock price soared, Forbes says in its July 17 issue, released Tuesday. Gates was the richest American a year ago, but ranked second worldwide.
Investor Warren Buffett was second with $10.7 billion, up from $7.9 billion a year ago. Stock in Buffett's investing company, Berkshire Hathaway, rose 38 percent in the past year.
It was the first time in the nine years that Forbes has been compiling the list that two Americans were on top.
Japanese real estate magnate Yoshiaki Tsutsumi, who had held the No. 1 spot for the last eight years, fell to a third-place tie even though the stronger yen made his net worth climb $500 million to $9 billion. Tied with Tsutsumi in third place was Hans Rausing, the Swedish head of packaging company Tetra Laval.
The heirs of the late retailer Sam Walton remained the world's richest family with $23.4 billion, slightly less than a year ago.
Forbes said it excludes from its list royal families and heads of state, because their fortunes come more from political heritage than efforts in the realm of economics.
That excludes the Sultan of Brunei, head of an oil-rich Pacific island nation and often described as the world's richest man. His family's oil, gas and real estate fortune has been estimated at upwards of $30 billion.
As a group, the billionaires club is growing. Forbes counted 388 private individuals or families with at least $1 billion net worth, up from 358 last year. The group has a total net worth of $893 billion.
This year, the United States had 129 billionaire fortunes, followed by Germany with 53; Japan, 37; Hong Kong, 14; Thailand, 12; France, 11; and Indonesia and Mexico with 10 each.
by CNB