Ray Dolby is a member of the Forbes 400 with an estimated net worth of United States dollar2.9 billion in 2008.

Ray Dolby, who founded the business three decades ago and holds 607 patents in electro-acoustics, introduced high-fidelity stereo to films in 1975.

A key advance in audio fidelity came with the Dolby A noise reduction system, invented by Ray Dolby and introduced in 1966.

So far the institute has been subsisting on a $3 million loan from the state and a $5 million gift from the audio entrepreneur Ray Dolby.

Ray Dolby (1983)

While there are dozens of different kinds of noise reduction, the first widely used audio noise reduction technique was developed by Ray Dolby in 1966.

Ray Dolby, the British inventor who now maintains his laboratory in San Francisco, has been known mainly for his patented method of reducing tape hiss.

Dolby Labs was founded by American Ray Dolby in Great Britain in 1965.

"Ray Dolby is a smart enough guy to see the writing on the wall for analog fix-its and is probably looking for a digital niche now," he said.

Ray Dolby and his wife Dagmar have two sons, Tom and David.