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Billionaires Lock Out Millionaires from 'Forbes' List

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Billionaires Lock Out Millionaires from 'Forbes' List

Business

Billionaires Lock Out Millionaires from 'Forbes' List

Billionaires Lock Out Millionaires from 'Forbes' List

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Being a millionaire just doesn't cut it anymore. You'll need to be worth at least ten figures to get on the Forbes list of the 400 richest Americans. Everyone on this year's list has at least $1 billion to his or her name.

STEVE INSKEEP, host:

Now the Chandlers didn't make the list, but other media moguls are among the 400 richest Americans. The last word on business today is Forbes Magazine's annual list.

LYNN NEARY, host:

Bill Gates remains America's richest man, followed by Warren Buffett.

INSKEEP: Number three on the list is Sheldon Adelson.

NEARY: Who's Sheldon Adelson?

INSKEEP: Well, we put that question to the list editor, Matthew Miller.

Mr. MATTHEW MILLER (Editor, Forbes Magazine): Sheldon Adelson Adelson is a casino mogul. He's got a license to take bets in the only place in Asia where it's legal to gamble.

INSKEEP: He says Adelson rakes in million dollars an hour.

NEARY: Run your finger down the Forbes list, and you will not find Martha Stewart, who's lost money recently.

INSKEEP: Matthew Miller says other people actually work to stay off the list.

Mr. MILLER: In fact I've had people give away their fortunes to their children and split up a billion dollar fortune, just to get off the Forbes 400.

INSKEEP: Most of us have nothing to worry about, for the first time the Forbes 400 consists entirely of billionaires.

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