Media billionaires' fortunes declined in 2001, according to Forbes magazine's new listing of the world's richest
people.
Microsoft COrp.'s Bill Gates still heads the list with $52.8 billion -- a fortune
that has been in steady decline since 1999, when it topped out at $90 billion.
Electronic media moguls make their first appearance at
No. 20: John Kluge, who founded Metromedia International Group Inc., is worth $10.5 billion. Kluge's well-diversified fortune has
taken a minimum hit -- it was worth $10.9 billion last year.
Metromedia is now a part of Fox Broadcasting Co., owned by Rupert Murdoch's News
Corp.
Murdoch comes in
at No. 45 this year with a $5.7 billion fortune.
In 2000, Murdoch came in at No. 39 with $7.8 billion.
The Cox sisters, Barbara Cox Anthony and Anne Cox Chambers,
again this year come in at No. 21, each worth $10.1
billion.
Cox Communications Inc., headquartered in Atlanta, owns Cox Broadcasting,
Cox Cable and other media properties.
Viacom Inc. chairman Sumner Redstone appears at No. 32 with $8.1 billion. That's
a big drop for Redstone, who beat out both Kluge and the Coxes last year with
$12.6 billion and a spot at No. 18.
EchoStar Communications
Corp. CEO Charlie Ergen shows up at No. 42 with $6.2 billion.
Last year, Ergen tied then-Time Warner Inc. vice Chairman Ted Turner at No.
35.
Each had $8.8. billion fortunes. Turner's value dropped dramatically in 2002
-- he showed up at No. 97 and is worth $3.8 billion.
Other media moguls to appear on the list:
#55: Donald and Samuel I.
Newhouse
#72: the new mayor of New York,
Michael Bloomberg ($4.4 billion)
#87: DreamWorks SKG
executive David Geffen ($4 billion).
