Richest Americans lost $300 billion last year - Forbes

It might have been a tough year for the poor in the US, but the country's super-rich have also been hit by the recession, with the Forbes list of richest Americans showing a $300 billion plunge.

Total wealth of the Forbes 400 - the top 400 wealthiest Americans - now stands at $US1.27 trillion, down from $1.57 trillion the year before.

The magazine says it's only the fifth time since 1982 that the collective net worth of the 400 has fallen.

Plunging capital markets, slumping real estate prices, "along with divorce and fraud," pushed the fortunes of 314 members down and drove 32 off the rankings altogether, said the magazine.

The person hit hardest was legendary investor Warren Buffett, America's second-richest person. His wealth fell $10 billion - Forbes says he is now worth $40 billion.

Microsoft founder Bill Gates is still listed as the richest man in the US, with Forbes saying he is worth $50 billion. His wealth fell $7billion.

The 10 richest Americans lost a combined $39.2 billion in the past 12 months, a 14 per cent fall.

To get onto the list, an American needed to be worth just $950 million, a $350m drop from the membership level last year.

Membership on the list was made easier as the price of admission dropped $350 million, from $1.3 billion last year to $950 million this year, paving the way for 19 new members and 19 returnees.



See the list of the richest Americans here

- NZ HERALD STAFF