Warren Buffett now the richest American

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Berkshire Hathaway Inc. Chairman Warren Buffett overtook Microsoft Corp. co-founder Bill Gates as the richest American by posting an $8-billion gain to $58 billion during a 33-day period from August 29 to October 1 in the Forbes 400 list, report agencies.
Gates' net worth declined $1.5 billion to $55.5 billion during the 33-day period. He had been No. 1 for 15 consecutive years.
The magazine, in its October 27 issue, recalculates the effect of September's financial news on the wealthiest Americans, those who make up its Forbes 400 list.
Las Vegas Sands Corp Chief Executive Sheldon Adelson's net worth declined $4.0 billion during the period, the steepest drop among Americans who lost $1.0 billion or more during the credit crisis, the agency said.
Between August 29 and October 1, Adelson, once considered the third richest man on the Forbes Magazine 400 list of richest Americans, suffered the steepest drop among those who lost $1.0 billion or more during the current credit crisis, according to the magazine.
In its October 27 issue, Forbes recalculated the effect of September's financial news on the wealthiest Americans, those who make up its Forbes 400 list. That list was published on September 17. Forbes said Adelson's net worth of $28 billion had lost roughly $13 billion this year, taking the 75-year-old billionaire to 15th place.