US super-rich lose billions, Forbes rich list reveals

BILLIONS of dollars have been knocked off the fortunes of America’s wealthiest men and women.

According to business magazine Forbes, the top 400 richest people in the US have lost a collective $300 billion (€204bn) in the last 12 months.

Among those taking a financial hit were Microsoft founder Bill Gates and philanthropic businessman Warren Buffett whose personal wealth shrunk by $7bn and $10bn respectively.