Buffett pips Gates to top new Forbes list

Warren Buffett has overtaken Bill Gates to become the richest American in the Forbes 400 list, Bloomberg said, citing a recalculated list to be published later this month.

The magazine, in its Oct 27 issue, recalculates the effect of September's financial turmoil on the wealthiest Americans, those who make up its Forbes 400 list, the news agency said.

That list was published on Sept 17.