PE pros fill Forbes 400(2)

More than two dozen of this year's 400 richest US citizens owe their fortunes to private equity.

Private equity players filled Forbes' list of the 400 richest people in the US this year. The business magazine reported that half of the 45 new members come from hedge funds or private equity firms, while more than two dozen of the total members have direct ties to the private equity industry.

Bill Gates was edged out for first place by Warren Buffett, with a personal fortune of $52 billion (€37 billion); though a frequent critic of private equity, Buffett's Berkshire Hathaway often engages in private equity-esque activities.

Steve Schwarzman: 40th richest US citizen

The Blackstone Group's chief executive Steven Schwarzman, whose $7.8 billion personal fortune has been widely publicised this year, ranked at number 40, while Apollo's Leon Black came in at number 82 with $4 billion.

Henry Kravis and George Roberts of Kohlberg Kravis Roberts tied for 57th with $5.5 billion each, while their erstwhile partner Jerome Kohlberg was ranked 317th with $1.5 billion.

TPG founders David Bonderman and James Coulter ranked 105th and 135th, with personal fortunes of $3.3 billion and $2.8 billion, respectively.

The Carlyle Group's founders, William Conway, Daniel D'Anniello and David Rubenstein all tied for 165th place with $2.5 billlion each, as did The Blackstone Group's Peter Peterson. Blackstone president Hamilton James followed close behind at 317th place with $1.5 billion.

Alec Gores of Gores Group, Wilbur Ross of WL Ross & Co., Thomas H. Lee, of Lee Equity Partners and Thomas Hicks of Hicks Holdings also made the list.