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Bill Gates Tops <i>Forbes'</i>s List

It's official--well, sort of. Forbes magazine has named Bill Gates, CEO of Microsoft Corporation, the world's richest private individual, with a fortune of $12.9 billion.

Buddy Warren Buffett is number two with $10.7 billion. According to Forbes, it's the first time in nine years that two Americans have been on top.

There's good news for the rest of us, too. Seems there's plenty more room for those with billionaire ambitions. Forbes tallied 388 individuals or families each worth at least $1 billion this year--up from only 358 last year.