Net worth of richest Americans jumps 13%Submitted by DeMolay on Thu, 09/20/2012 - 05:37
THE net worth of the richest Americans grew by 13% in the past year to $1.7-trillion, Forbes magazine said yesterday, and a familiar cast of characters once again populated the top of the magazine’s annual list of the US ultra-elite, including Bill Gates, Warren Buffett and Larry Ellison.
The average net worth of the 400 wealthiest Americans rose to a record $4.2bn, the magazine said.
Collectively, this group’s net worth is the equivalent of one-eighth of the entire US economy, which stood at $13.56 -trillion in real terms according to the latest government data. But the 13% growth in the wealth of the richest Americans far outpaced that of the economy overall, helping to widen the chasm between rich and poor.