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Five Indian-Americans figure in the Forbes magazine's annual list of the richest people in America with Microsoft Corp chairman Bill Gates retaining his top spot with $66 billion, up $7 billion from 2011.

He is followed by Berkshire Hathaway Inc.'s Warren Buffett (No. 2) with $46 billion, also up $7 billion from last year, and Oracle Corp's Larry Ellison (No. 3) with $41 billion, up $8 billion - and the biggest dollar gainer this year.

Facebook founder Mark Zuckerberg has been pushed down in the rankings to the no. 36 spot with his estimated net worth falling by about $8 billion to $9.4 billion since Facebook went public in May.

The Indian-Americans' list is topped by Bharat Desai and family with a net worth of $2 billion in the 239th place. Kenya-born Bharat Desai started as a programmer for Tata Consultancy Services, only to leave the company four years later to start Syntel with his wife.

Next comes Romesh T. Wadhwani (No. 250), Founder and Chairman, Symphony Technology Group, with a net worth of $1.9 billion. Landing in the US with only a few dollars in his pocket, he developed business software firm Aspect Development. Today his portfolio includes more than 10 different enterprise software companies.

Third on the Indian-American list is Kavitark Ram Shriram (No. 298), Managing Partner, Sherpalo Ventures, with a net worth of $1.6 billion. He was one of the first people to write a check to Google cofounders Sergey Brin and Larry Page in 1998.

Next comes Indian-born Manoj Bhargava (No. 311) with a net worth of $1.5 billion. His two-ounce caffeine and vitamin elixir, 5-Hour Energy, promises to keep users alert without crashing -- and claims a 90 percent-plus market share in the energy shot sector

Last on the Indian-American list is Venture capitalist Vinod Khosla (No. 328) with a net worth of $1.4 billion. With a firm belief that the future lies in developing cleaner energy sources, the Khosla Ventures founder was a big backer of biofuel producers Kior and Gevo, both of which went public in 2011, according to Forbes.

Mumbai traders call off strike against LBT

from IBNLive

Mumbai traders call off strike against LBT

After more than three weeks, Mumbai traders on Monday called off their strike against Local Boy Tax (LBT).


iGATE Prez sacked over scandal

from IBNLive

iGATE Prez sacked over scandal

Information and technology outsourcing service provider iGATE has sacked President and CEO Phaneesh Murthy for not informing the company board about his relationship with a subordinate employee.

Yahoo nearing $1.1B acquisition of Tumblr

from AP

Yahoo nearing $1.1B acquisition of Tumblr

Yahoo will meet to consider approving a $1.1 billion acquisition of online content-sharing site Tumblr in a deal Mayer negotiated, according to the technology news site All Things D.

2 become 1: Famous tech acquisitions

from In.com

2 become 1: Famous tech acquisitions

Here are some other tech acquisitions that made headlines in the past...

WB textile policy to help sector grow

from IANS

WB textile policy to help sector grow

The state government has uploaded the draft policy on its websites and invited suggestions from various industry bodies as well as business community.

Indians more willing to share personal info: Study

from PTI

Indians more willing to share personal info: Study

Even as cases of financial fraud are dotting cyber space across the world, Indians seem more forthcoming in giving out their personal information for personalised services.

Woodland to re-position footwear

from IANS

Woodland to re-position footwear

Footwear major Woodland, owned by the Aero Group, is looking to re-position its sub-brand 'Woods' in the luxury footwear segment, focusing primarily on women's footwear, a top company official said Friday.