Friday, July 1, 2011

China, Russia Lead Billionaire Growth; Carlos Slim Retains "Wealthiest" Title

Forbes has released its 2011 list of the world's wealthiest people, and, thanks to high commodity prices and Asia's economic rise, Russia, China and Brazil saw the biggest increases in number of billionaires. Although the US still hold the greatest number of billionaires at 413, this was the first time any other country broke more than 100. China nearly doubled its number of billionaires to 115, while Russia and Brazil jumped to 101 and 30, respectively. The three countries collectively doubled last year's 97 newcomers to the list with 214 new billionaires this year. Forbes Chief Executive Steve Forbes said at a news conference on Wednesday that commodities were behind the wealth of those in Brazil, Russia and China saying, "The bottom line is BRICs, commodities and Asia Pacific. There is a global commodities boom. But as we should have learned ... commodities can go up very sharply, they can go down very sharply." The world's richest man remains Mexican telecommunications and holdings tycoon Carlos Slim, who beat out 1209 other billionaires with earnings of $20.5 billion over the past year to claim the title with $74. billion. Microsoft co-founder Bill Gates remained in second place with $56 billion, up from $53 billion, while investor Warren Buffet came in third again with $50 billion, up from $47 billion. Forbes, however, noted that Gates would have been the richest man in the world had he not given away $28 billion to his foundation. Among newcomers to the list are ...

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