$1 billion not enough to join America’s 400 richest

A BILLION dollars is no longer enough to secure a place on Forbes’ rich list of Americans, the business magazine said yesterday.

The 25th annual ranking of the wealthiest individuals in the United States found the minimum net worth required for inclusion on this year’s list was $1.3 billion (€924 million), up $300m from last year.

It is the first time that simply having a billion dollars would not secure you a place among the top 400 names on the list, and 82 US billionaires missed out, Forbes said. The collective net worth of those listed this year rose $290 billion to $1.54 trillion.