Super Rich Lost $300 Billion in 2009

While the entire country continues to struggle due to the various negative effects of the economic recession, even the nation’s most wealthy individuals have had their share of financial loss. The collective worth of the country’s 400 wealthiest people has fallen by $300 billion to $1.27 trillion, according to Forbes magazine.
 
This loss of wealth among the super rich has also lowered the threshold for the “super rich” designation to $950 million from $1.3 billion in assets. Forbes has reported that most of the financial loss comes from tumultuous capital markets and plunging real estate values, but a fair share of the ultra wealthy have also seen their fortunes fall to divorce and fraud.
 
Last year’s list saw 126 members decline in wealth, but this year’s list showed that a whopping 314 of the nation’s super rich lost money. Bill Gates still tops the list with $50 billion, which includes a loss of $7 billion for the Microsoft founder, while investing guru Warren Buffet remained at second place with $40 billion, including a loss of $10 billion.

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