New York, Oct.11 Berkshire Hathaway owner Warren Buffet has overtaken close friend Bill Gates to become the richest individual as per the Forbes 400 Richest Americans list.

Forbes reports that in September, Buffett's shares of Berkshire Hathaway rose 17 percent, increasing his fortune by eight billion dollars. Gates showed a net loss of 1.5 billion dollars, moving him behind Buffett.

In this, the 27th edition of the list, the assembled net worth of America's wealthiest rose by 30 billion dollars, only two percent, to 1.57 trillion dollars. (ANI)