Forbes recently held its 3rd annual Forbes 400 Charity Poker Tournament. The event was hosted by Miguel Forbes, Forbes president of television and licensing, and Matthew Miller, Forbes global wealth editor, at the Forbes Galleries in New York City. The four participants, with a combined net worth of $9 billion, consisted of oil and grocery magnate John Catsimatidis, banker Andy Beal, proprietary trader Steven Schonfeld and returning champion, casino mogul Phil Ruffin.

Each player kicked off the game of No Limit Texas Hold 'Em with a $50,000 buy-in and an option to buy an unlimited amount of chips in $100,000 increments throughout the evening. The winner of the game earned bragging rights and the privilege of designating which charities would receive the sum of the donations.

Two winners emerged after 73 hands and two and a half hours of play:
Catsimatidis and Schonfeld. They who won 20 hands apiece and agreed to split the $1.2 million dollar pot among the following list of charities and foundations (at right):

1. Alzheimer's Association
2. Kidney & Urology Foundation of America
3. D.A.R.E. (Drug Abuse Resistance Education)
4. Friars Club Foundation
5. Diabetes Research Institute
6. Juvenile Diabetes Foundation
7. Police Athletic League
8. Hellenic Times Scholarship Fund
9. Soldiers & Sailors
10. Appeal of Conscience
11. Hole in the Wall Gang
12. The John & Margo Catsimatidis Foundation
13. Steven B. Schonfeld Foundation