Net Worth of 400 Richest Americans Jumped 13%
And those 400 now make up 1/8 of the US economy
By Kevin Spak, Newser User
Posted Sep 19, 2012 11:55 AM CDT
Bill Gates and Warren Buffett, seen in this file photo, are the top two names on the Forbes 400.   (AP Photo/Paul Sakuma)

(Newser) – It was a good year for America's 400 richest people, who saw their net worth jump 13% to $1.7 trillion, according to Forbes' latest "Forbes 400" list. For a little context, Reuters notes that that means their combined net worth represents roughly one-eighth of the entire US economy.

The top five names on the list didn't change this year—it's still Bill Gates, Warren Buffett, Larry Ellison, and the Koch brothers, in that order. Perhaps the most notable change: Mark Zuckerberg plummeted from No. 14 to No. 36, thanks to Facebook's less-than-stellar NASDAQ debut.

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Sep 19, 2012 7:52 PM CDT
i'm mitt romney and i approve this story
Sep 19, 2012 7:42 PM CDT
Soooooo... the rich people, owning 1/8 of the total US economy, automatically get a large chunk of the money from the treasury, the US gov (ie the taxpayers) gets the bill, and the bill is payable to China (or whoever else gets the bonds), where the rich people are moving our jobs? got it.... Ya know what, I think that this is the best argument yet for taxing the shit out of these filthy rich. If they are not heavily taxed, then their TRILLION+ dollars in investments will continue to siphon our country into debt. This isn't a problem caused by FOOD STAMPS! I am convinced, TAX THE RICH before they BLEED US DRY!!!
Sep 19, 2012 4:25 PM CDT
More money to hand out to the politicians who make it all possible. " Here's another million, Willard. Just remember where it came from and who has first claim on those tax cuts."