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Thursday
Mar102011

'Forbes' Annual List of Billionaires Released; Net Worth Totals $4.5 Trillion

Adam Gault/Thinkstock(NEW YORK) -- There have never been as many billionaires in the world as there are right now, according to Forbes, which has just published its annual list of billionaires.
 
“Carlos Slim is number one but it wasn’t even close this year,” said Editor-In-Chief Steve Forbes.
 
Slim, a Mexican telecom mogul, is worth $74 billion, $18 billion more than the second-richest man in the world, Microsoft founder Bill Gates.  Gates has given away about a third of his fortune.  Warren Buffett, who has also pledged to donate much of his wealth, is the third richest.
 
There are 1,210 billionaires from 54 countries worth a combined $4.5 trillion, a staggering sum that eclipses the gross domestic product of Germany.
 
“The global economy is recovering but it is not spread across the board,” Forbes said.
 
Much of the world’s new wealth is being created in Asia-Pacific nations, from which come nearly half of the new names on the Forbes list.  Brazil, India and Russia created most of the other new billionaires.  Before this year Forbes says only the United States produced more than 100 billionaires. China and Russia can now say the same.
 
“This year the United States is still number one in billionaires but the lead is shrinking,” Forbes said.  “This global economy is truly spreading in terms of innovation coming out of countries that weren’t major players before.”
 
Most of the billionaires in the United States are hedge fund and private equity tycoons but innovation spawned the second-largest number of American billionaires.  Six of them come from Facebook.   The online gaming site Zynga and group-buying site Groupon launched two new billionaires.
 
“The tech companies continue to be a place where people make huge fortunes,” said Forbes senior editor Luisa Kroll.
 
If you are not on the list and want to be, Kroll said you should move to China.
 
“There you could be in a lot of different industries. There’s just a lot more action.”

Copyright 2011 ABC News Radio

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    'Forbes' Annual List of Billionaires Released; Net Worth Totals $4.5 Trillion - Business News - ABC News Radio
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    'Forbes' Annual List of Billionaires Released; Net Worth Totals $4.5 Trillion - Business News - ABC News Radio

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