Buffett Overtakes Gates to Top New Forbes List

(Reuters) – WarrenBuffett has overtaken Bill Gates to become the richest American in theForbes 400 list, Bloomberg said, citing a recalculated list to bepublished later this month.

The magazine, in its October 27 issue, recalculates the effect ofSeptember’s financial news on the wealthiest Americans, those who makeup its Forbes 400 list, the agency said.

The Berkshire Hathaway Inc chairman added $8 billion to his networth in a 33-day period, August 29 to October 1, to reach $58 billion,the agency said, citing the magazine.

Buffett overtook the Microsoft Corp co-founder, whose net worthdeclined $1.5 billion to $55.5 billion during the 33-day period, theagency said.

Bill Gates had been number 1 on the Forbes list for 15 consecutive years, the agency said.

Las Vegas Sands Corp Chief Executive Sheldon Adelson’s net worthdeclined $4 billion during the period, the steepest drop amongAmericans who lost $1 billion or more during the credit crisis, the agency said.

Forbes could not be immediately reached by Reuters.

(Reporting by Ajay Kamalakaran in Bangalore, editing by Will Waterman)