Los Angeles  - There was no change in order at the top of Forbes annual list of American's richest 400 people released on Wednesday, as Microsoft Corp founder Bill Gates stayed number one, ahead of investment guru Warren Buffett, and tech tycoon Larry Ellison, co-founder of Oracle Corp.

But the effects of the recession and plunge in asset values were felt throughout the list, as the top 400 billionaires lost a collective 300 billion dollars, and all it took to get on the list was a measly 950 million dollars, compared to 1.3 billion dollars last year.

Gates lost 7 billion dollars to see his fortune shrink to 50 billion dollars, while Buffet was the biggest loser as his fortune plunged 10 billion dollars to 40 billion dollars. Ellison was the only one of the top 10 not to incur major losses, staying steady at 27 billion dollars.

Also in the top 10 were four descendants of Sam Walton, founder of discount department store chain Wal-Mart Stores Inc, New York mayor Michael Bloomberg and Charles and David Koch, owners of energy and manufacturing firm Koch Industries.

Altogether the top 10 combined lost 40 billion dollars while the net worth of all 400 on the list dropped to 1.27 trillion dollars from 1.57 trillion dollars a year ago. (dpa)