Forbes rich list reflects alternative investments

Bill Gates still rules the roost, with Warren Buffett in second. But Forbes' new list of the richest Americans is chock full of newbies, many of whom made their fortunes in private equity or hedge funds. Financial News Online notes that David Bonderman and James Coulter, co-founders of TPG (Texas Pacific Group) made it for the first time. Three founders of the Carlyle Group also made it. Two other faring well: Steven Schwarzman, flush after the IPO of Blackstone, ranks 40th. Steven Cohen, of hedge fund SAC group, ranked just seven spots back. In the upstart category: 33-year-old John Arnold, a former Enron trader who founded his own hedge fund and is now worth $1.5 billion. The list will likely be a lot more volatile given the fortunes that are easily made and lost in financial services these days. These guys care about the rankings more than they let on. More than any league table.  

For more:
- here's the article from Financial News Online