Oracle's CEO Larry Ellison has come within US$5 billion of Microsoft magnate Bill Gates in Forbes' latest list of the wealthiest Americans.
The latest Forbes magazine list of the richest people in the United States showes Gates is worth an estimated US$63 billion, despite losing some US$22 billion in net worth in the last year as Microsoft's stock slid.
Ellison, who was No. 12 on the annual list last year, rocketed up to the second spot by raising his net worth by US$45 billion to US$58 billion.
Behind Ellison, at third richest, is Microsoft co-founder Paul Allen, with a net worth of US$36 billion.
As big as Britain
The Forbes list, published in the October edition of the business magazine, shows the rich are still getting richer. The total net worth of the Forbes 400 members soared 20 percent, to US$1.2 trillion, which is nearly the gross domestic product of Britain.
In spite of the "tech wreck" in April, when shares in technology companies slumped, there are 31 new billionaires on the Forbes 400. Now, 298 of the 400 richest Americans are billionaires.
Forbes pointed out that Gates' net worth exceeds the gross domestic product of Peru, while investment identity Warren Buffet -- No. 4 on the list -- has amassed more wealth (US$28 billion) than the gross domestic product of oil-rich Kuwait. Cable tycoon Ted Turner's US$9.1 billion, which makes him the 21st richest American, equals the gross domestic product of Panama.
Some notable celebrity names appear on the list for the first time this year, including Martha Stewart, whose October 1999 public offering of her Martha Stewart Living Omnimedia IPO and branding deal with K-Mart have vaulted her to a net worth of US$1 billion.
Vince McMahon, the man who made the World Wrestling Federation into a pop culture icon, has amassed a fortune estimated at US$1.1 billion. New additions that have technology to thank for their wealth include Jeffrey Hawkins and Donna Dubinksy, creators of the Palm Pilot; and Vincent Smith and David Doyle, co-founders of Qwest Software.
