Bill Gates is America's richest man for 14th year in a row

Microsoft founder Bill Gates is the richest person in America for the 14th year in a row, followed by investor Warren Buffett, according to Forbes magazine's latest list of the wealthiest Americans.

The pair's fortunes each grew by $6 billion in the past year, Forbes said, with Mr Gates' fortune $59 billion and Buffett $52 billion.

Mr Buffett has pledged 85 per cent of his net worth to the Bill and Melinda Gates Foundation and family charities.

Casino magnate Sheldon Adelson ($28 billion), head of Las Vegas Sands Corp, and software tycoon Larry Ellison ($26 billion), chief executive officer of Oracle Corp, remain at No. 3 and No. 4 on the 25th annual ranking of 400 rich Americans, which now requires a minimum net worth of $1.3 billion for inclusion.

"The collective net worth of those listed on the 400 this year rose $290 billion to $1.54 trillion," Forbes said. "Despite market jitters, nearly half of the 45 new members come from hedge fund and private equity investments."

For the first time since 1989 there are no members of the Walton family, descendants of Wal-Mart Stores Inc. founder Sam Walton, in the top 10. Four members - Jim, Christy, Robson and Alice - slipped to 12th and 15th place.

The Waltons were displaced by Google co-founders Sergey Brin and Larry Page, who came in at No. 5 with fortunes of $18.5 billion, and brothers Charles and David Koch, who run Koch Industries, the world's second largest private company, and are each valued at $17 billion, earning them 9th place.

Investor Kirk Kerkorian was the biggest gainer on the list, his fortune rising by more than $9 billion in the past year to $18 billion. He debuted in the top 10 at No. 7 - up from No. 26 last year.

Michael Dell, chief executive of Dell Inc, the world's second-largest PC maker, was No. 8 on the list with a fortune of $17.2 billion.