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Aubrey McClendon falls from Forbes' billionaires list

Chesapeake founder Aubrey McClendon is no longer a billionaire, according to the latest Forbes list of the wealthiest people.
From Staff Reports Published: March 5, 2013

Outgoing Chesapeake Energy Corp. CEO Aubrey McClendon is no longer a billionaire, according to the latest Forbes list of the wealthiest people on the planet.

The magazine noted that McClendon, who has been a regular on Forbes' list of billionaires, had leveraged against his personally held oil and gas interests. “Put another way, the guy has mounds of debt,” Forbes reported.

Chesapeake announced last month that McClendon will leave the company he founded on April 1 with a severance package worth about $47 million.

Five Oklahoma families remain on the list this year, led by Continental Resources Inc. CEO Harold Hamm, who ranked No. 90 overall with a net worth of $11.3 billion.

Hamm was followed by Tulsa oilman and Bank of Oklahoma Chairman George Kaiser at $10 billion and ranked No. 109 overall.

Hobby Lobby founder David Green is listed at No. 276 with an estimated net worth of $4.5 billion.

Oklahoma retailers Tom and Judy Love tied with Lynn Schusterman — widow of Samson Resources' Charles Schusterman — to round out the state's presence on the list at No. 384 with a net worth of $3.5 billion.

Mexico's Carlos Slim remains the world's richest man for the fourth year in a row, according to Forbes, while Warren Buffett dropped out of the top three for the first time since 2000.

A record 1,426 people around the world made Forbes magazine's latest annual tally of billionaires, up 16 percent from last year. Their average net worth was $3.8 billion, rising 3 percent from 2012. The total net worth for the list's billionaires was $5.4 trillion compared with $4.6 trillion a year ago.

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