Forbes Magazine’s list of “The 400 Richest People in America” is out and it includes several billionaires who have ties to Bermuda and the reinsurance industry.Highest on the list with a connection to the Island is the “Oracle of Omaha, billionaire Warren Buffett who came in at No. 2 on the list.With a net worth of $46 billion, the 82-year-old got into the reinsurance business back in 1998 when he acquired General Re (Gen Re).In 2002, he became involved with Hank Greenberg at AIG with General Re providing the company reinsurance.Since then, he has ventured into other reinsurance companies. In 2009, he invested $2.6 billion as a part of Swiss Re’s raising equity capital.Berkshire Hathaway already owns a 3 percent stake with rights to own more than 20 percent.In 2010, Mr Buffett became Munich Re’s largest single shareholder with 10.2 percent of the company.Mr Buffett is also a major backer of West End Capital Management, a Bermuda-based fixed income arbitrage hedge fund group.Next highest on the list at No. 10 is New York City Mayor Michael Bloomberg.Mr Bloomberg, who is listed as having a net worth of $25 billion, is a frequent visitor to Bermuda and owns a vast home facing Tucker’s Town Cove.The 70-year-old is founder and 88 percent owner of Bloomberg L.P., a multinational mass media corporation specialising in financial data-services.His Bermuda home was recently extensively reworked at a reported cost of $10.5 million. His neighbours include billionaires Ross Perot and Italian Prime Minister Silvio Berlusconi.Following Mayor Bloomberg at No. 15 on the list is George Soros, a Hungarian born American business magnate, investor and philanthropist.Mr Soros is the chairman of Soros Fund Management.He held shares in Bermuda-based IPC Holdings, a subsidiary of which was International Property Catastrophe Reinsurance Company Ltd.IPC Holdings was acquired by Validus in 2009. Mr Soros also had a major stake in Q Re, which was founded by two former Renaissance Re executives, Michael Cash and the late Bill Riker. It folded in 2011.Mr Soros, who is worth an estimated $19 billion, reportedly gives away more than $600 million a year, but has changed his plans to give away all of his wealth before his death.No. 27 on the list with $11.8 billion is Abigail Johnson, President of Fidelity Investments Personal and Workplace Investing. 50-year-old, who is believed to have a home in Paget, is the daughter of Fidelity Investments founder, Edward (Ned) Johnson III.Mr. Johnson, an American and Bermuda resident, came in at number 52 on the list with $6.2 billion.The 82-year-old has a home in Somerset and has been very generous to Bermuda, including funding the Bermuda Underwater Exploration Institute.Next on the list at No. 28 is American hedge fund manager, John Paulson. The 56-year-old, said to be worth $11 billion, is the founder and president of Paulson & Co.The New York-based company made headlines in April of this year when it became one of many hedge funds to become involved with Bermuda’s reinsurance industry.Paulson’s company partnered with Bermuda-based Validus to form PaCRe Ltd., with an initial capitalisation of $500 million to write reinsurance. Paulson & Co. manages PaCRe’s assets, while Validus carries out the underwriting.Mr Paulson gained fame when he made $3.5 billion in 2007 by short-selling sub-prime mortgage-backed securities as the US housing market crashed. Some described it as the greatest trade ever. In 2010, he made $5 billion.But last year, he was humbled by the markets as his flagship Paulson Advantage fund sank 35.91 percent net of fees and Paulson Advantage Plus was down a whopping 50.67 percent after fees.Paulson & Co has approximately $24 billion in assets under management and has offices in New York, London and Hong Kong.Another American hedge fund manager on the list who recently joined a string of big-name hedge fund managers to enter the insurance industry in recent months, is Steven Cohen.At No. 40 on the Forbes 400 list, the 56-year-old is worth $8.8 billion. He is the founder of SAC Capital Advisors, which launched a Bermuda reinsurance company called SAC Re Ltd. with $500 million of capital in July.Two hedge fund managers on the list — No. 347, Daniel Loeb and No. 360 David Einhorn also have reinsurance ties.Mr Loeb founded Bermuda-based Third Point Re in 2011, and Mr Einhorn is a major shareholder and chairman of Greenlight Capital Re, a Cayman-based reinsurer.Other billionaires on the list with Bermuda ties include:No. 113, Ross Perot, who owns a property in Tucker’s Town and his son, No. 328, Henry Ross Perot, junior with $3.5 billion and $1.4 billion respectively.No. 118, Ronald Lauder, with $3.4 billion.The international investor has a large stake in Bermuda-based Central European Media, although the son of beauty queen Estee Lauder traces much of his fortune to the Estee cosmetics empire.He also serves as Chairman of Clinique Laboratories, a unit of the cosmetics giant. His older brother, Leonard came in at No. 43 on the list with $7.7 billion.Falling off the list this year was Aubrey McClendon who was No. 359 on the list last year.Mr McClendon, who is co-founder and CEO of Chesapeake Energy, the third largest independent producer of natural gas, was listed as being worth $1.1 billion in 2011.In 2006, he bought Castle Point in Tucker’s Town for $20.8 million. One of Bermuda’s most luxurious properties, the eight-acre estate is surrounded by water on three sides.The richest American on the list for the 19th year running with a net worth of $66 billion is Microsoft co-founder, Bill Gates.The last person on the list, worth $1.1 billion is San Francisco 49ers owner, Denise York.There were 44 other women on the list including Christy Walton, the richest woman in America and widow of the son of Wal-Mart Founder, Sam Walton at No. 6; Alice Walton, daughter of the Wal-Mart founder at No. 8; Jacqueline Mars, co-owner of the largest candy company in the world at No. 16; Laurene Powell Jobs & Family, wife of legendary Apple co-founder, Steve Jobs and now the richest woman in Silicon Valley; and Oprah Winfrey who came in at No. 151.Among the freshly minted are Shahid Khan, owner of the NFL’s Jacksonville Jaguars, at No. 179; Andrew & Peggy Cherng, the husband and wife team behind restaurant chain Panda Express, at No. 239; and Twitter creator Jack Dorsey at No. 392.Youngest on the list is Dustin Moskovitz at No. 151. He was Facebook founder, Mark Zuckerberg’s Harvard roommate and Facebook’s third employee.He’s just eight days younger than Zuckerberg, No. 36.