Bill Gates still top dog but rising billionaires catching up

UNITED STATES: Microsoft co-founder Bill Gates is still the richest man in the world, but his lead over other entrepreneurs is narrowing, according to Forbes magazine’s list of billionaires published Thursday.

Despite Gates leading the rich list for a 13th straight year with a tidy nest egg of 56 billion dollars, US investment guru Warren Buffett’s personal fortune climbed to 52 billion, halving the software mogul’s lead.

There were now a record 946 billionaires in the world, up more than 150 from last year, with Forbes attributing the increase to a commodities boom, the march of technology and the relative weakness of the US dollar.

The list’s total net worth grew 35 percent from last year to a staggering 3.5 trillion dollars, with Mexican telecoms mogul Carlos Slim Helu jumping into third place with a massive 19-billion-dollar increase in his net worth.

“This growth in the billionaires list is a mere reflection of a dynamic global economy. More people are better off on this Earth than ever before,” said Steve Forbes, the magazine’s editor in chief, unveiling the list.

“This boom goes beyond commodities. One of the things that has facilitated this global boom, bringing hundreds of millions of people into the global economy is of course technology,” he added.

“This is the richest year in human history.”

While the 20th annual list was dominated as usual by US businessmen, Russian oligarchs and Asian entrepreneurs — especially those from India and China — were increasingly making their presence felt.

Some 36 Indian billionaires led by steel magnate Lakshmi Mittal now featured on the list boasting a total wealth of 191 billion dollars between them, knocking out Japan after two decades as the leading Asian power on the list.

But even India’s dominance would be overturned if China and Hong Kong were lumped together with their total of 41 billionaires, led respectively by Hong Kong property magnate Li Ka-shing and China’s paper manufacturer Yan Cheung.

“It was a sizzling year in Asia. Both India and China saw huge gains,” said Forbes Associate Editor Luisa Kroll, who oversaw the report. “It seems we just can’t get away from billionaires.”

In Europe, the most excitement came from Russia and Spain, Kroll explained, with 10 new Spanish names on the list and 19 Russian newcomers.

New York, Friday, AFP