• Redstone, Gates among the biggest tech losers in billionaires’ club

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    March 29th, 2009JoshUncategorized

    Pity poor Sumner Redstone. The 85-year-old majority owner of CBS, Viacom, MTV, BET, Paramount and Dreamworks is down to his last billion. A year ago, he had nearly $7 billion.

    Redstone is one of the biggest losers on a Forbes-derived table of tech and tech-related billionaires that details how much they lost in the past year. According to TechCrunch, the forty fat cats are now worth a total of $203 billion. That's nearly a 30 percent drop from their combined net worth of $284.9 billion last year.

    Microsoft mogul Bill Gates is still the world's richest man. So it's not surprising that he lost the highest dollar volume on the list, down $18 billion from a year ago. There's another $40 billion where that came from, though.

    Oracle strongman Larry Ellison did surprisingly well, giving up less than three billion of his $22.5B fortune. He was number 14 on the list last year. Now he's at number 4. Google founders Larry Page and Sergey Brin lost money, but rose higher in rank by not losing as much as others.

    As TechCrunch writer Leena Rao notes, the most telling stat is that Forbes can only find 793 billionaires this year, as opposed to 1,125 in 2008. Well over a trillion dollars in worth has evaporated from Forbes' list.  

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