Business

Kochs retain No. 9 spots on Forbes 400 list

WICHITA -- Charles Koch, chairman and CEO of Wichita-based Koch Industries, saw his financial worth slip $3 billion over the last year but remained in the top 10 of Forbes magazine's annual list of the 400 Richest People in America.

Koch and his brother David, who lives in New York and is an executive vice president at Koch, are tied for ninth with an estimated net worth of $16 billion each, according to Forbes. Both were at $19 billion last year.

For only the fifth time since 1982, the collective net worth of the Forbes 400 declined, falling $300 billion in the past year from $1.57 trillion to $1.27 trillion, the magazine reported this week.

Wichitan Phil Ruffin, a Las Vegas resident who a has gained his wealth from casinos and real estate, is in a three-way tie at No. 193 with $1.85 billion. He was No. 215 with an estimated net worth of $2.1 billion last year.

Three other Kansans made the list.

Min Kao, Mission Hills, chairman and CEO of Garmin, is tied at No. 196 with $1.8 billion. He was No. 262 last year with the same estimated net worth. Gary Burrell, Stilwell, who co-founded Garmin with Kao, is tied at No. 347 with $1.1 billion. He wasn't ranked on last year's list.

Hallmark's Donald Hall and family, Mission Hills, is tied at No. 371 with $1 billion. Hall was No. 321 last year with $1.5 billion.

For the 16th straight year, Microsoft co-founder Bill Gates ranked No. 1. His estimated net worth is $50 billion, down $7 billion from last year.

To see the complete list, go to Forbes.com

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