Monday, 22 October 2012

20.Paul Allen

Paul Allen

Net Worth: $15 B As of September 2012

At a Glance

Age: 59
Source of Wealth: Microsoft, investments, self-made
Residence: Mercer Island, WA
Country of Citizenship: United States
Education: Drop Out, Washington State University
Marital Status: Single

Forbes Lists

#20 Forbes 400

#48 Forbes Billionaires

#20 in United States

Profile

Microsoft cofounder and philanthropist Paul Allen has been enjoying an upswing in wealth and business activity lately. Shares of the software maker he started with Bill Gates have risen this year, but the real winners are his private investment portfolio (media, energy and tech) and years-long effort to rehab downtown Seattle's South Lake Union district, an urbanista paradise where more luxury rentals are going up and companies (Amazon is in 12 buildings) are moving in (although word is that Allen may be a seller here soon enough). Allen is that rare billionaire who combines passions for sports and science. He owns the Seattle Seahawks (pro football), the Portland Trailblazers (pro basketball) and is a part-owner in the Seattle Sounders FC (pro soccer). The cancer survivor also has a keen interest in neuroscience, having recently lost his mother to Alzheimer's disease. To date he has committed $500 million to the Allen Institute for Brain Science, which makes public a detailed "atlas" of genes that control the human brain. He loaned his 414-foot yacht, Octopus and its personal deep-sea remote-operated vehicle to survey populations of the rare Coelecanth and recover the bell from the British warship HMS Hood, sunk in 1941 by the Nazis. Named the most philanthropic American in 2011 by the Chronicle of Philanthropy, Allen donates prolifically to Seattle-area causes in education, the arts and health care.

19.Steve Ballmer

Steve Ballmer

Net Worth: $15.9 B As of September 2012

At a Glance

CEO, Microsoft
Age: 56
Source of Wealth: Microsoft, self-made
Residence: Hunts Point, WA
Country of Citizenship: United States
Education: Bachelor of Arts / Science, Harvard University; Drop Out, Stanford University
Marital Status: Married
Children: 3

Forbes Lists

#19 Forbes 400

#44 Forbes Billionaires

#18 in United States

Profile:

Steve Ballmer, CEO of Microsoft since January 2000, is intent on proving the world's biggest software firm is keeping pace with its nimbler, younger rivals. In the past several months he's unveiled a significantly new desktop and mobile operating system (Windows 8), a new tablet (Surface) to take on the iPad, and switched clunky old Hotmail to a Webbier version of Outlook. He's taken his lumps, too, in July writing down 98% of Microsoft's $6.3 billion acquisition of online display ad seller aQuantive from five years ago. During his tenure, Ballmer has tripled revenue to $70 billion and boosted profits 155% to $23 billion. The stock price? You'd have been better off with an index fund. Ballmer may be getting ready to hand over the reins: he sold 18% of his shares in November 2010 and said his keynote appearance at the giant CES trade show in January 2012 would be his last. Ballmer continues to keep a tight lid on his personal life. Colleagues say he does little more than work, spend time with his family and play basketball with buddies. He's a big hoops fan: Ballmer has been identified as part of an investor group bidding to bring a National Basketball Association team back to Seattle, which lost the SuperSonics to Oklahoma City. As for his personal philanthropy, he told one reporter, "My own world's my own world, so I continue to treat it that way." A Detroit-area native, Ballmer dropped out of a Stanford M.B.A. program to join Harvard classmate Bill Gates in 1980 as employee number 30 at Microsoft.

18.John Mars

John Mars

Net Worth

$17 B As of September 2012

At a Glance

Age: 76
Source of Wealth: candy
Residence: Jackson, WY
Country of Citizenship: United States
Education: Diploma, The Hotchkiss School; Bachelor of Arts / Science, Yale University
Marital Status: Married
Children: 3

Forbes Lists

#18 Forbes 400

#52 Forbes Billionaires

#22 in United States

Profile:

John Mars and his siblings, Forrest Jr. and Jacqueline, own $33 billion (estimated sales) Mars, the world's largest candy company thanks in part to its $23 billion acquisition of gum maker Wrigley's in 2008. Sales of Skittles, the candy Trayvon Martin was eating when he was killed, spiked, as people bought the chewy candy in memory of him.The candy maker's other famous brands include Milky Way, M&M's, 3 Musketeers, Twix, and Snickers, reportedly named for the Mars family's favorite horse. John's grandfather, Frank Mars, began making chocolates in 1911 in his Tacoma, Wash. kitchen. His father, Forrest Sr., joined the company in 1929, around same time when the firm invented malt-flavored nougat that became the basis of Milky Way and Snickers; also M&M's, over 400 million of which are produced in the United States each day.. It also owns food brands like Uncle Ben's Rice and pet food brand Whiskas. Mars is a noted supporter of the Fred W. Smith National Library for the Study of George Washington.

17.Jacqueline Mars

Jacqueline Mars

Net Worth

$17 B As of September 2012

At a Glance

Age: 73
Source of Wealth: candy
Residence: The Plains, VA
Country of Citizenship: United States
Education: Bachelor of Arts / Science, Bryn Mawr College
Marital Status: Divorced
Children: 3

Forbes Lists

#17 Forbes 400

#52 Forbes Billionaires

#22 in United States

Profile:

Jacqueline Mars and her two brothers, John and Forrest Jr, own the largest candy company in the world, $33 billion (estimated sales) Mars, thanks in part to its $23 billion acquisition of gum maker Wrigley's in 2008. Sales in Skittles, the candy Trayvon Martin was eating when he was shot, jumped as people bought the colored chewy candies in support of Martin. The candy maker's other famous brands include Milky Way, M&M's, 3 Musketeers, Twix, and Snickers, reportedly named for the Mars family's favorite horse. Jacqueline's grandfather, Frank Mars, began making chocolates in 1911 in his Tacoma, Wash. kitchen. Her father, Forrest Sr., joined the company in 1929, around same time when the firm invented malt-flavored nougat that became the basis of Milky Way and Snickers; also M&M's, over 400 million of which are produced in the United States each day.. Mars also owns consumer and pet food brands including Uncle Ben's Rice and Whiskas. Jacqueline is a trustee of the United States Equestrian team and sits on the board of the Washington National Opera, which completed a merger with the Kennedy Center in 2011.

16.Forrest Mars, Jr.

Forrest Mars, Jr

Net Worth: $17 B As of September 2012

At a Glance

Age: 81
Source of Wealth: candy
Residence: Big Horn, WY
Country of Citizenship: United States
Education: Master of Business Administration, New York University; Diploma, The Hotchkiss School; Bachelor of Arts / Science, Yale University
Marital Status: Divorced
Children: 7

Forbes Lists

#16 Forbes 400

#52 Forbes Billionaires

#22 in United States

Profile:

Forrest Mars Jr. and his siblings, John and Jacqueline, own $33 billion (estimated sales) Mars, the world's largest candy maker thanks in part to its $23 billion acquisition of gum maker Wrigley's in 2008. Sales of Skittles, the candy Trayvon Martin was eating when he was killed, spiked in the aftermath of the shooting as people bought the chewy candies in a sign of support of him. The candy maker's other famous brands include Milky Way, M&M's, 3 Musketeers, Twix and Snickers, reportedly named for the Mars family's favorite horse. Forrest's grandfather, Frank Mars, began making chocolates in 1911 in his Tacoma, Wash. kitchen. His father, Forrest Sr., joined the company in 1929, around same time when the firm invented malt-flavored nougat that became the basis of Milky Way and Snickers; also M&M's, over 400 million of which are produced in the United States each day. Mars also owns consumer and pet food brands including Uncle Ben's Rice and Whiskas. Forrest made headlines in 2011 for protesting the construction of a Montana railroad that would have facilitated coal extraction from the state because the proposed route passed through his ranch. When his attempts to block it via legal action failed, Forrest simply bought a stake in the railroad and adjusted the route accordingly. A noted history buff and preservationist, the $23 million Mars Education Center opened at Fort Ticonderoga last summer. Forrest 's former wife, Deborah, is a Ticonderoga native.

Wednesday, 17 October 2012

15.George Soros

George Soros

Net Worth: $19 B As of September 2012

At a Glance

Age: 82
Source of Wealth: hedge funds, self-made
Residence: Katonah, NY
Country of Citizenship: United States
Education: Bachelor of Arts / Science, London School of Economics
Marital Status: Divorced
Children: 5

Forbes Lists

#15 Forbes 400

#22 Forbes Billionaires

#12 in United States

Profile:

Legendary investor George Soros retired in 2011 and turned his hedge fund into a family office, returning just under $1 billion in assets to outside investors. Soros also brought in a new investment officer to help oversee the remaining assets belonging to his family and his foundations. His fortune is down due to a reported drop in performance but also because our new estimate subtracts sums we believe he manages for his foundation. Born in Budapest, Soros survived the Nazi occupation of Hungary and went on to study at the London School of Economics before launching storied hedge fund firm Quantum Fund Management in 1969. Outspoken on world economic policies and an unapologetic proponent of European integration, Soros has recently called the design of the euro "very flawed" and described the situation as an "existential crisis" for Europe. Since 1979 Soros has given away $8.5 billion to human rights, education and public health groups; $6 billion has gone to international causes and estimated $400 million to fight poverty. Among his notable recent gifts: $160 million toward improving the lives of Europe's Roma minority and $100 million to overcome barriers faced by African American boys and men. Soros has also committed $150 million to combating corruption and promoting transparency in governments around the world. His efforts have resulted in the creation of organizations such as Revenue Watch, which works to ensure that citizens benefit from their country's natural resources. In August 2012, at his 82nd birthday party at his summer home in Southampton, Soros announced that he and his girlfriend, Tamiko Bolton, are engaged. Bolton is 42 years Soros' junior and will become the financier's third wife. The couple plans to marry in the summer of 2013.

14.Larry Page

Larry Page

Net Worth: $20.3 B As of September 2012

At a Glance

CEO, Google
Age: 39
Source of Wealth: Google, self-made
Residence: Palo Alto, CA
Country of Citizenship: United States
Education: Master of Science, Stanford University; Bachelor of Arts / Science, University of Michigan
Marital Status: Married
Children: 1

Forbes Lists

#14 Forbes 400

#24 Forbes Billionaires

#13 in United States

#30 Powerful People

Profile

In April, Larry Page celebrated one year as the chief executive officer of Google. Don't expect him to be shouting from the rooftops in celebration, however. In June, the Google cofounder came down with a mysterious ailment that caused him to lose his voice. The illness also prevented him from speaking at the annual Google I/O developer conference and caused him to miss both Google's annual stockholders' meeting and the company's earnings call in July. He has reportedly spent time recovering in Bora Bora. Google has continued its foray into hardware with the futuristic Project Glass -- glasses with augmented reality capabilities -- and its Nexus 7 tablet, which some see as a real rival to Apple's iPad. A resident of Palo Alto, Brin is a major proponent of cleaner forms of energy. His network of houses uses new types of fuel cells, geothermal energy and rainwater capture. Both Page and Google cofounder Larry Brin are investors in electric carmaker Tesla Motors. His fortune is up by $3.6 billion over the past year to $20.3 billion due to a nearly 30% climb in the price of Google shares in the past year.

13.Sergey Brin

Sergey Brin

Net Worth: $20.3 B As of September 2012

At a Glance

Cofounder, Director Of Special Projects, Google
Age: 39
Source of Wealth: Google, self-made
Residence: Los Altos, CA
Country of Citizenship: United States
Education: Master of Science, Stanford University; Bachelor of Arts / Science, University of Maryland, College Park
Marital Status: Married
Children: 2

Forbes Lists

#13 Forbes 400

#24 Forbes Billionaires

#13 in United States

#30 Powerful People

Profile:

While Google cofounder Sergey Brin focuses on futuristic innovations as head of special projects at the company, a nearly 30% surge in the price of Google stock in the past year lifted Brin's net worth by $3.6 billion to $20.3 billion. He recently unveiled Project Glass at the tech giant's Google I/O developer conference. His presentation, which featured sky divers and BMX bikers, highlighted the capabilities of the augmented reality glasses, which will allow a user to do everything from chat on video to view Google Maps while walking. While his cofounder and Google CEO, Larry Page, has lost his voice, Brin has led Google's foray into hardware with both Project Glass and the company's new Nexus 7 tablet. The son and grandson of mathematicians on his father's side, Brin emigrated from Russia at age 6. His mother was a research scientist at NASA. He met cofounder Page in a computer science Ph.D. program at Stanford and dropped out in 1998 to start Google from a friend's garage. Brin and his wife, Anne Wojcicki, run the Brin Wojcicki Foundation, which has donated over $5 million to the Parkinson's Institute in the last three years. Brin is particularly interested in funding research for Parkinson's because he has a genetic mutation that increases the odds that he will contract the disease. Their Brin Wojcicki Challenge promises to match any proceeds up to $50 million given to The Michael J. Fox Foundation by the end of 2012. As of August, Brin and Wojcicki have already given $30 million to the Fox Foundation for this challenge.

12.Sheldon Adelson

Sheldon Adelson

Net Worth: $20.5 B As of September 2012

At a Glance

Chairman and CEO, Las Vegas Sands
Age: 79
Source of Wealth: casinos, self-made
Residence: Las Vegas, NV
Country of Citizenship: United States
Education: Drop Out, City College of New York
Marital Status: Married
Children: 5

Forbes Lists

#12 Forbes 400

#14 Forbes Billionaires

#7 in United States

Profile:

Sheldon Adelson, the pit boss of casino giant Las Vegas Sands, has dominated headlines in both the business and political press this year. Company lawyers have kept busy with a federal bribery investigation about dealings in Macau; Las Vegas Sands denies all allegations. His net worth fell by $1 billion since last August on a slight dip in Las Vegas Sands' shares. The proud Republican made waves over the winter by bankrolling Newt Gingrich's presidential bid (which failed) and has since given $10 million to Mitt Romney's SuperPac. Adelson says potential donations could be "limitless." He can afford it; lucrative casinos in Macao and Singapore enable Las Vegas Sands to pay a nice quarterly dividend; Adelson pulled in some $275 million in dividends (net of taxes) over the past year. The Boston native has made charitable donations to healthcare and pro-Israel causes.

11.Jeff Bezos

Jeff Bezos

Net Worth: $23.2 B As of September 2012

At a Glance

CEO, Amazon.com
Age: 48
Source of Wealth: Amazon.com, self-made
Residence: Seattle, WA
Country of Citizenship: United States
Education: Bachelor of Arts / Science, Princeton University
Marital Status: Married
Children: 4

Forbes Lists

#11 Forbes 400

#26 Forbes Billionaires

#15 in United States

#40 Powerful People

Profile:

Jeff Bezos' online book giant Amazon.com is now the world's largest internet retailer of any kind, reporting over $48 billion in 2011 sales. The company now sells more Kindle e-books than the traditional variety. Bezos continues to invest in side projects that fuel his adventurous side. In March, he announced his Bezos Expeditions had discovered the lost engines from the historic Apollo 11 moon landing mission on the ocean floor. Now, his exploration company will attempt to bring those F-1 rocket launchers to the surface. Bezos also funnels money into aerospace firm Blue Origin, a West Texas-based research and development outfit working to create a vertical take-off and landing rocket. The Amazon billionaire faced criticism in recent months about allegedly unsafe conditions in his company's warehouses. In May, the retail giant assured shareholders it was spending $52 million to install air conditioners, among other improvements. In the meantime, he's looking to add robots to his workforce: in March, Amazon bought robotics firm Kiva Systems for $775 million in hopes of speeding up its order fulfillment process. While Bezos and wife Mackenzie are notoriously private, they made headlines in July for a rare public donation: $2.5 million to Washington United for Marriage, a group backing Referendum 74, which would legalize same-sex marriage in the couple's home state. Princeton grad Bezos once worked at hedge fund D.E. Shaw; he quit Wall Street before his 30th birthday to sell books online from his Seattle garage. He founded Amazon.com in 1994 and took it public three years later. Amazon didn't turn a profit until late 2001.

10.Michael Bloomberg

Michael Bloomberg

Net Worth: $25 B As of September 2012

At a Glance:

Age: 70
Source of Wealth: Bloomberg LP, self-made
Residence: New York, NY
Country of Citizenship: United States
Education: Master of Business Administration, Harvard University; Bachelor of Arts / Science, Johns Hopkins University
Marital Status: Divorced
Children: 2

Forbes Lists:

#10 Forbes 400

#20 Forbes Billionaires

#11 in United States

#17 Powerful People

Profile:

New York City's Mayor Mike has been working to enact as much change as he can in his adopted hometown in his third and final term. This spring, he proposed a ban on super-sized sugary drinks, and he was vocal in his support of the state's Marriage Equality Act, which passed in 2011. He's also taking on pro-gun groups in his renewed call for gun control in the wake of July's movie theater shootings in Colorado. Gun control is one of the many projects he personally supports with his charitable dollars: over the years, he's given $2.8 billion of his fortune away in support of public health, the environment, the arts and education. In 2011, he donated $330 million to such groups as the Sierra Club, the Alliance for the Arts and the American Foundation for Suicide Prevention. His fortune comes from his financial data firm Bloomberg LLC, whose sales were up 20% in 2011 to $7.6 billion. The Boston-born Harvard MBA started the company after being fired from Salomon Brothers in 1982. Bloomberg originally sold data and analytic tools to Wall Street; in recent years, it has added a news service, multiple magazines, a cable network and radio station. There are now 313,000 Bloomberg LP data terminals in use worldwide, up from 300,000 last year. Bloomberg owns at least 10 homes in Manhattan, Westchester County, Bermuda, Vail and the Hamptons.

9.S. Robson Walton

S. Robson Walton

Net Worth: $26.1 B As of September 2012

At a Glance

Chairman, Wal-Mart Stores
Age: 68
Source of Wealth: Wal-Mart
Residence: Bentonville, AR
Country of Citizenship: United States
Education: Doctor of Jurisprudence, Columbia University; Bachelor of Arts / Science, University of Arkansas
Marital Status: Married
Children: 3

Forbes Lists:

#9 Forbes 400

#18 Forbes Billionaires

#10 in United States

Profile:

Wal-Mart heir S. Robson Walton has served as chairman of the board for the massive retailer since 1992. Rob is the eldest son of visionary retailer Sam, a former clerk who opened his first store with help from his brother James in 1962 in Bentonville, Ark. Today, Wal-Mart has sales of $444 billion and employs 2.2 million people worldwide. Since last year, Rob received more than $420 million in dividends. Before joining Wal-Mart, he was a partner with the law firm of Conner & Winters in Tulsa, Oklahoma. Rob and his siblings have donated about $2 billion to the Walton Family Foundation over the last five years.

Monday, 24 September 2012

8.Alice Walton

Alice Walton

Net Worth

$26.3 B As of September 2012

At a Glance

Chairman, Crystal Bridges Museum of American Art
Age: 62
Source of Wealth: Wal-Mart
Residence: Fort Worth, TX
Country of Citizenship: United States
Education: Bachelor of Arts / Science, Trinity University
Marital Status: Divorced

Forbes Lists

#8 Forbes 400

#43 Power Women

#17 Forbes Billionaires

#8 in United States

Profile:

Wal-Mart heiress Alice Walton opened her ambitious Crystal Bridges Museum of American Art in November 2011. The museum, which seeks to bring a world-class art experience to Bentonville, Ark., includes works she has donated herself (with a personal collection valued in the hundreds of millions of dollars.) Alice and her siblings have also donated about $2 billion to the Walton Family Foundation over the last five years. Daughter of retail visionary Sam, Alice graduated from Trinity College in San Antonio, Tex., and now runs a horse ranch in central Texas. Since last year, she received more than $420 million in Wal-Mart dividends after taxes. [...] more

7.Jim Walton

Jim Walton

Net Worth

$26.8 B As of September 2012

At a Glance

Chairman and CEO, Arvest Bank Group, Inc.
Age: 64
Source of Wealth: Wal-Mart
Residence: Bentonville, AR
Country of Citizenship: United States
Education: Bachelor of Arts / Science, University of Arkansas
Marital Status: Married
Children: 4

Forbes Lists

#7 Forbes 400

#16 Forbes Billionaires

#7 in United States

Profile:

Wal-Mart heir Jim Walton is the youngest son of retail visionary Sam (d. 1992), who founded the massive retailer with his brother James, opening a single store in Rogers, Ark. in 1962. Wal-Mart now has sales of $444 billion and employs 2.2 million people worldwide. Since last year, Jim received more than $430 million in dividends after taxes. He and his siblings have given about $2 billion to the Walton Family Foundation over the last five years. Jim is also the CEO of his family's Arvest Bank, which has branches in Arkansas, Kansas, Oklahoma and Missouri. He gave $100,000 to the Super PAC for Republican presidential nominee Mitt Romney. [...] more

Friday, 21 September 2012

6.Christy Walton & family

Christy Walton & family

Net Worth: $27.9 B As of September 2012

At a Glance

Co-Chair, Children's Scholarship Fund
Age: 57
Source of Wealth: Wal-Mart
Residence: Jackson, WY
Country of Citizenship: United States
Marital Status: Widowed
Children: 1

Forbes Lists

#6 Forbes 400

#11 Forbes Billionaires

#6 in United States

Profile:

Wal-Mart widow Christy Walton is the richest woman in the United States once again. She inherited her wealth when husband John Walton, a former Green Beret and Vietnam war medic, died in an airplane crash in 2005. John's investment in First Solar had boosted Christy's net worth well above the rest of her family, but the stock tanked in 2012, closing her lead to just $1.1 billion (down from $3.4 billion last year) over brother-in-law Jim. The rest of her holdings are in Wal-Mart, the massive retailer founded by her father-in-law Sam Walton and his brother James in 1962. Since last year, Christy received more than $420 million in Wal-Mart dividends after taxes.

5.David Koch

David Koch

Net Worth: $31 B As of September 2012

At a Glance

Age: 72
Source of Wealth: Diversified
Residence: New York, NY
Country of Citizenship: United States
Education: Bachelor of Arts / Science, Massachusetts Institute of Technology; Master of Science, Massachusetts Institute of Technology
Marital Status: Married
Children: 3

Forbes Lists

#4 Forbes 400

#12 Forbes Billionaires

#5 in United States

#45 Powerful People

Profile:

New York City's richest resident David Koch is full of surprises: A New York delegate at the Republican National Convention told Politico that week that he believes in gay marriage and in raising taxes to pay down the federal debt. Earlier in the year, he and his brother Charles had sued the conservative Cato Institute, which they helped found in 1977, over issues of control; the parties later settled. Despite any drama, Koch Industries, the second largest privately held in the U.S. with interests in pipelines, refineries, fertilizer and consumer products like Brawny paper towel and Dixie cups, continues to generate rich cash flow and pay down debt. David, who is vice-chairman, is worth $6 billion more this year thanks to an increase in the company's value. A prostate cancer survivor, he says his biggest philanthropic contributions so far go toward a "moon shot" campaign to finding a cure for cancer, to which he's donated a quarter of a billion dollars.

4.Charles Koch

Charles Koch

Net Worth

$31 B As of September 2012

At a Glance

Age: 76
Source of Wealth: Diversified
Residence: Wichita, KS
Country of Citizenship: United States
Education: Master of Science, Massachusetts Institute of Technology; Bachelor of Arts / Science, Massachusetts Institute of Technology
Marital Status: Married
Children: 2

Forbes Lists

#4 Forbes 400

#12 Forbes Billionaires

#4 in United States

#45 Powerful People

Profile:

The head of the nation's second biggest private company, $115 billion (sales) Koch Industries, Charles Koch continues to pay down debt and generate rich cash flow. By FORBES' estimates the Wichita, Kansas company, with interests in chemicals, refining and Georgia Pacific, which makes Brawny paper towels and Dixie cups, is now worth $75 billion, pushing up Koch's own net worth by $6 billion in the past year. A well-known Libertarian, he gives $40 million plus a year to his foundation, which gives grants to colleges and universities to study "market-based tools that enable individuals, institutions and societies to prosper." He also helped found the Cato Institute, which he sued last year but the parties settled, and the Mercatus Center at George Mason University, both bastions of free-market and libertarian scholarship. And he's busy funding groups designed to raise a new generation of free-market entrepreneurs, including Youth Entrepreneurs Kansas (or Youth Entrepreneurs) with $1.5 million in assets, which teaches entrepreneurship to about 1,000 high school students each year; and the Bill of Rights Institute (2010 spending: $3.7 million) which runs programs to educate teachers and students on the importance of the Constitution in "securing our liberty as Americans."

3.Larry Ellison

Larry Ellison

Net Worth

$41 B As of September 2012

At a Glance

CEO, Oracle
Age: 68
Source of Wealth: Oracle, Self-made
Residence: Woodside, CA
Country of Citizenship: United States
Education: Drop Out, University of Chicago; Drop Out, University of Illinois at Urbana
Marital Status: Divorced
Children: 2

Forbes Lists

#3 Forbes 400

#6 Forbes Billionaires

#3 in United States

Profile:

Larry Ellison, America's third richest man, can now add "owns 98% of Hawaiian island of Lanai" to his long list of accomplishments. He bought the 141-square mile island, including its two resort hotels and a housing development, from fellow billionaire David Murdock in June for a reported $500 million or more. In May Ellison told the audience at a tech conference that Oracle's 2009 purchase of hardware giant Sun Microsystems for $7.4 billion had paid for itself, and after jettisoning unprofitable pieces of the business, it has perhaps the highest profit margins around for its servers. Shareholders seem to agree; the stock has climbed 20% since late August 2011, adding $8 billion to Ellison's net worth. This, despite ongoing legal battles with some of its biggest competitors: SAP, HP and Google. His other passion, yachting, is making its mark on San Francisco as warm-up events for the 2013 America's Cup yacht race kick into gear. Ellison, who signed on to the Gates-Buffett Giving Pledge in 2010, has thus far donated $445 million, mostly via Oracle stock, to his Ellison Medical Foundation, which supports research on aging and age-related diseases. His latest gift to the foundation was 1.6 million shares of Oracle -worth $45 million - in April.

Thursday, 20 September 2012

2.Warren Buffett

Warren Buffett

Warren Buffett

Net Worth

$46 B As of September 2012

At a Glance

Chairman, Berkshire Hathaway
Age: 82
Source of Wealth: Berkshire Hathaway, Self-made
Residence: Omaha, NE
Country of Citizenship: United States
Education: Master of Science, Columbia University; Bachelor of Arts / Science, University of Nebraska Lincoln
Marital Status: Widowed, Remarried
Children: 3

Forbes Lists

#2 Forbes 400

#3 Forbes Billionaire

#2 in United States

#20 Powerful People

Profile:

Buffett recently completed radiation treatment for prostate cancer, five months after he notified Berkshire Hathaway shareholders of his condition, assuring them that it was "not remotely life-threatening." Still, he has gotten his house in order: In December he chose his farmer son, Howard, as the future non-executive chairman and "guardian of the firm's values." In February he said he'd picked his CEO replacement but has declined to give a name. He's also stepping up philanthropically. He gave $1.5 billion to the Gates Foundation in July, bringing his total giving to $17.25 billion. On his birthday in August he pledged $3 billion of stock to his children's foundations. His fortune is up $7 billion as class A shares jumped more than 20% since last year. After studying under Benjamin Graham at Columbia Business School, Buffett offered to work for his former professor's investment partnership, Graham-Newman Corporation, for free. According to Buffett, "he turned me down as overvalued." It was only after several years of "pestering" that the father of value investing agreed to take on the younger man in 1954. When Graham retired two years later, Buffett returned to Nebraska to launch his own partnership. In 1962 Buffett began buying up shares of a struggling textile company called Berkshire Hathaway. Though Buffett has called Berkshire "the dumbest stock" he ever bought, the firm has long since shed its textile assets and today serves as Buffett's famed investment vehicle. In May, Berkshire snapped up dozens of local newspapers from Media General after announcing a deal for the Omaha World-Herald in November 2011.

1.Bill Gates

Bill Gates

Net Worth:: $66 B As of September 2012

At a Glance

Co-Chair, Bill & Melinda Gates Foundation
Age: 56
Source of Wealth: Microsoft, Self-made
Residence: Medina, WA
Country of Citizenship: United States
Education: Drop Out, Harvard University
Marital Status: Married
Children: 3

Forbes Lists

#1 Forbes 400

#2 Forbes Billionaires

#1 in United States

#5 Powerful People

Profile:

Bill Gates, the planet's most generous person --he's given away $28 billion so far -- has a new obsession: building a better toilet for those without water or sewage systems. Every year 1.5 million children die from food and water tainted with fecal matter, more than the annual deaths from AIDS and malaria combined. The Bill & Melinda Gates Foundation is also spearheading a malaria vaccine that is showing promise in clinical trials. The vaccine non-profit he founded, the Global Alliance for Vaccines and Immunisation (GAVI), has raised $4.3 billion in pledges from various countries to provide life-saving vaccines against a range of deadly infections that harm millions of children in developing countries, including those that cause meningitis, pneumonia, and severe diarrhea. Since June 2011, 13 countries have introduced vaccines against pneumococcal disease and rotavirus, two of the world's biggest killers. In April his wife Melinda went public with a big push to spread access to contraceptives worldwide, and pledged a total $1.1 billion to the cause. Gates' net worth climbed $7 billion since last August on the strength of Microsoft shares, which rose 20%, and on gains from investments in private equity, bonds, and stocks such as hygiene tech firm Ecolab and Mexican TV broadcaster Televisa. He continues to sell shares of Microsoft --he shed 80 million in the past year, about 15% of his stake -- so that now just one-fifth of his net worth stems from the software company he co-founded 37 years ago. Gates and his good friend Warren Buffett continue to recruit new members to their Giving Pledge, in which the very wealthy promise to give away at least half of their net worth during their lifetime or after they die.