25 September 2013, 23:01
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Forbes estimates Kirk Kerkorian's wealth at $3.9 billion

The Forbes 400 list, which features America’s 400 richest people, has been released. Las Vegas’ Armenian casino magnate Kirk Kerkorian, came in at No. 118.

The 96 year-old’s wealth is estimated at $3.9 billion. In 2012, Kerkorian was No. 142 on the Forbes 400 Richest Americans list; Kerkorian came in at No. 412 in the world’s billionaires list.

Bill Gates retains the top spot on the Forbes 400 for the twentieth straight year, at $72 billion. Up $6 billion from 2012, Mr. Gates is once again the world’s richest person, having passed Mexico’s Carlos Slim in May. Warren Buffett, #2, is the biggest dollar gainer this year at $58.5 billion, up $12.5 billion from last year. Larry Ellison (#3), worth $41 billion, is the same as last year; he is the only one in the Top 10 who did not add to his fortune. Mark Zuckerberg was the second biggest gainer at $9.6 billion.  He returns to the Top 20 (#20) at $19 billion after dropping to #36 last year, while Carl Icahn is back in the Top 20 (#18) for the first time since 2008.

Twenty newcomers climbed into the ranks, including Don Hankey (#342) of Auto Loans at $1.6 billion, GoPro’s Nicholas Woodman  (#386) at $1.3 billion; and Richard Yuengling Jr. of D.G. Yuengling & Son (# 371) at $1.4 billion. David Duffield’s fortune is up 205% to $6.4 billion from $2.1 billion last year, making the software entrepreneur — currently co-CEO of Workday and former head of PeopleSoft — the largest percentage gainer this year (#65).

There are 48 women on the list, including retired Army lieutenant colonel and heir to the Hyatt Hotels fortune Jennifer Pritzker (#327), formerly known as James Pritzker and the first transgender billionaire. Paul Allen moves out of the top 20, now at #26, from #20 in 2012; as does Steve Ballmer, now #21, from #19 in 2012. Twenty-eight people who were on the 2012 Forbes 400 dropped off, and 6 people died. Among the deceased is sound pioneer Ray Dolby, who passed away last week.

The issue contains a rare interview and cover story with the elusive Alice Walton (#8), who has built one of the most impressive museums of American art in the world in her home town of Bentonville, Arkansas, with money from her Wal-Mart inheritance; as well as a behind-the-scenes interview and night out with eccentric billionaire Stewart Rahr (#327), a former pharmaceutical distribution entrepreneur who has devoted his life to conflicting themes:  philanthropy and hedonism.

The Forbes 400 issue will feature five consecutive covers, including Warren Buffett as the front cover, as well as Alice Walton; online retail entrepreneur Michael Rubin, a newcomer to the list; real estate and private equity mogul Sam Zell (#110); and Stewart Rahr.


Approximately 1 in 10 billionaires are foreign born.

273 members of the list are self-made billionaires; 71 inherited their wealth, and 56 inherited at least a portion but are still growing it.

Ira Rennert (#77) is the biggest loser (in dollars), as his $5.5 billion fortune is down $1 billion from $6.5 billion in 2012

Roger Wang (#166) is the biggest loser (in percentage terms), down 16.7% at $3 billion, from $3.6 billion in 2012.

The youngest billionaires are Mark Zuckerberg (#20), age 29 with a net worth of $19 billion, and Dustin Moskovitz (#85), age 29 (a few days younger than Zuckerberg),with a net worth of $5.2 billion. Facebook is the origin of wealth for both.

The oldest billionaire is David Rockefeller Sr. (# 193), age 98, with a net worth of $2.8 billion.

There are 61 billionaires who did not make the cut this year, given the rising bar for entry to the list, now at $1.3 billion.

314 billionaires are Up (vs. 241 in 2012); 30 billionaires are Down (vs. 66 in 2012); and 22 billionaires are Even (vs. 61 in 2012). There are 14 Returnees (vs. 12 in 2012).

Notable drop-offs include: T. Boone Pickens, at $950 million; Graham Weston at $920 million; Dan Snyder at $1.2 billion; and Manoj Bhargava at $800 million.

The top three industries:

Investments – 96

Technology – 48

Food and Beverage – 29

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