Billionaires of 2008

Pity the poor billionaire.

There are 489 billionaires in the United States, but only 400 are rich enough to make Forbes magazine's new list of the 400 wealthiest people in America.

The price of admission is $1.3 billion and the 89 who didn't make the cut "just aren't rich enough," said Matthew Miller, editor of the list released yesterday.

The 400 - whose cumulative wealth stands at $1.57 trillion - include 31 new members and eight back on the list after falling off last year. Thirty-three were knocked off the list and six died.

Debuting in the top 10 is Mayor Bloomberg, whose $20 billion fortune placed him eighth - up from 65th last year when his net worth was $11.5 billion. One new member is Facebook founder Mark Zuckerberg who, at the tender age of 24, is worth a paltry $1.5 billion, ranking him only 321st on the list.

Microsoft founder Bill Gates, No. 1 last year, remains the richest man in the United States, with a net worth of $57 billion.