Mexico's Carlos Slim still tops Forbes' richest list

2011-03-10 07:09:11 GMT+7 (ICT)

NEW YORK (BNO NEWS) -- Mexico's Carlos Slim continues to top Forbes' 2011 list of the world's billionaires - which was released on Wednesday - with a net worth of $74 billion, $20.5 billion more than he had the previous year.

Slim's $18 billion lead over Microsoft's Bill Gates - who was ranked in second place with $56 billion - could be largely due to Gates' philanthropic endeavors. Through the Bill & Melinda Gates Foundation, he has reportedly donated around $30 billion to various charitable organizations and scientific research programs.

Meanwhile, Slim's fortune largely comes from his telecommunication businesses, Telmex and America Movil, reportedly worth 62 percent of his fortune.

According to the study, during the last 12 months, 214 people became billionaires, bringing the number of billionaires around the world to 1,210 holding a total of $4.5 trillion. China had a total of 54 new billionaires while Russia added 31, bringing its total to 115 as its capital city of Moscow is the city with the most billionaires in the world with 79.

The U.S., which has four people in the top ten list - Gates (Microsoft), Warren Buffet (Berkshire Hathaway), Larry Ellison (Oracle), and Christy Walton & family (Walmart), added 23 new billionaires, bringing its total number to 413 with a net worth of $1.5 trillion.

The report also showed that Europe has 300 billionaires worth $1.3 trillion, Asia-Pacific has 332 worth $996 billion, the Middle East and Africa have 89 worth $251 billion, and the Americas (excluding the U.S.) have 76 billionaires worth $419 billion.

Forbes' 2011 list recorded the most billionaires ever with 1,210, and their $4.5 trillion combined fortune is also the highest ever recorded.

-- © BNO News All rights reserved 2011-03-10

Asia has overtaken Europe in numbers of billionaires

this may indicate the new ascendancy of Asian economies, but alarmingly also indicates the massive lopsidedness of distribution of wealth in that still persists in Asia.

This eventually will lead to political unrest.