The top earner is worth a whopping $53.5bn and it ain't Gates or Buffett.

Mexican tycoon Carlos Slim is the world's richest person, knocking Microsoft founder Bill Gates into second spot, as the wealth of the world's billionaires grew by 50 percent over the last year, Forbes magazine said on Wednesday.

It is only the second time since 1995 that Gates has lost the crown, the magazine said, estimating Slim's net worth at $53.5 billion, compared to Gates's $53 billion fortune, while investor Warren Buffett came in at No. 3 with $47 billion.

The trio regained $41.5 billion of the $68 billion they had lost the previous year, Forbes said.

The number of billionaires around the world has nearly recovered in 2010 after dropping by a third last year during the global financial crisis. There are now 1,011 billionaires, compared with 793 last year and 1,125 in 2008.

The net wealth of those billionaires grew to $3.6 trillion from $2.4 trillion last year, but is still down from 2008's $4.4 trillion, according to the 24th annual Forbes list, which took a snapshot of wealth on February 12 to compile its ranking.

The average billionaire is now worth $3.5 billion, up $500 million from last year. And the number of women on the list rose to 89 from 72 last year.

"The global economy is recovering and it's reflected in what you see in the list this year," Steve Forbes, chief executive of Forbes, told a news conference. "Financial markets have also made an even more impressive comeback from the lows of just about a year ago, particularly in emerging markets."

"Asia is leading the comeback," Forbes said.

The number of billionaires in the Asia-Pacific region grew by 80 percent to 234 and their net worth almost doubled to $729 billion, which the Forbes ranking attributed to the area's "swelling stock markets and several large public offerings during the past year."

Two Indians round out the top five richest people in the world -- Mukesh Ambani, with a petrochemicals, oil and gas fortune of $29 billion, and steel magnate Lakshmi Mittal, who is valued at $28.7 billion.

The biggest gainer on the list was Brazilian mining magnate Eike Batista, 53, with $27 billion, up from $7.5 billion. He made his riches through the initial public offerings of several companies. He is planning to take his shipbuilding and oil services firm OSX public next week in an expected $5.6 billion offering, which would be Brazil's second biggest ever IPO.

UNITED STATES, EUROPE LAGGING

Of the 97 billionaires making their debut on the Forbes list, 62 are from Asia, while for the first time China is now home to the most billionaires outside of the United States.

"The United States still dominates, but the United States is lagging," Forbes said. "It is not doing as well as the rest of the world in coming back."

"The global boom that we experienced from the early 80s ... which was temporarily derailed in 2007, now looks like it is beginning to get back on track. But Asia and a handful of others are surging, relatively the United States and Western Europe are lagging."

The top homes to billionaires are New York with 60 and Moscow with 50, followed by London with 32.

There are 55 countries represented on the Forbes list with billionaires from Pakistan -- clothing exporter Mian Muhammad Mansha -- and Finland -- manufacturing mogul Antti Herlin -- making an appearance for the first time, while Turkey, Russia and India regained billionaire numbers lost last year.

There were 164 billionaires returning to the list in 2010, including Facebook founder Mark Zuckerberg, who is also the world's youngest with a $4 billion fortune at the age of 25.

The second-youngest self-made billionaire is Japan's Yoshikazu Tanaka, 33, who made $1.4 billion from social networking firm Gree. The oldest is 99-year-old Walter Haefner from Switzerland who has $3.3 billion.

The sixth-richest man is Oracle Corp Chief Executive Larry Ellison with $28 billion. At No. 7 is the richest man in Europe, Bernard Arnault, CEO of luxury goods group LVMH, who has a fortune of $27.5 billion.

"The bling is back," said Forbes Senior Editor Luisa Kroll of Arnault's wealth.

Rounding out the top 10 is Spanish clothing retailer Inditex founder Amancio Ortega with $25 billion and German supermarket king Karl Albrecht, who is valued at $23.5 billion.

While Gates's and Buffett's fortunes far exceed most others in the top 10, Forbes Senior Editor Matthew Miller said their fortunes would be far greater if they hadn't given away a lot of their money.

"They would be far richer today if it wasn't for their tremendous philanthropy," he said. "Buffett would be worth at least $55 billion ... and Gates' net worth would exceed $80 billion had it not been for his philanthropy."

The Forbes ranking of the world's billionaires can be seen at www.forbes.com/billionaires.

COMMENTS

View disclaimer

 

responses to this article

Next Time Why the hell is my name not there! by Lil Donnie on March 10 2010, 23:53 Find this comment inappropriate? Report it

mine is my name is there - number 1 after all !!! by carlos on March 11 2010, 00:13 Find this comment inappropriate? Report it

Ekshewelly You are all racist cos my name does not appear. by Juju on March 11 2010, 01:00 Find this comment inappropriate? Report it

EISH SOORY IT ME Sorry i forgot to put in my application as i was too busy on my 100 million dollar yatch with two very good looking woman to keep me company, while my slaves made me a couple of billion extra this year. Too all above stop dreaming i should be on . .more the list. Now if you don't mind i need to take my lambo for a drive. . .less by BART on March 11 2010, 01:04 Find this comment inappropriate? Report it

Worlds Richest Man Go the good ole Lebanese boy. Only a Leb could be so smart . What a cuzzie!!! by Cedar Tree on March 11 2010, 01:10 Find this comment inappropriate? Report it

Yacht what's a yatch? by Dingy on March 11 2010, 01:15 Find this comment inappropriate? Report it

Slim Carlos Why don't you tell us where this dude got his bucks from? by OnHisTee on March 11 2010, 01:16 Find this comment inappropriate? Report it

will the real list please stand up Where is Angolas Dos Santos - hes easily in top 10 by Watcher on March 11 2010, 01:48 Find this comment inappropriate? Report it

Cedar Tree Sorry for you, he is not Lebanese but rather Mexican. by Non Cuzzie! on March 11 2010, 02:45 Find this comment inappropriate? Report it

But Are they happy? by clause on March 11 2010, 03:28 Find this comment inappropriate? Report it

Bart Stop talking sh!t at the expense of your employer and his resources and get back to work. by Real on March 11 2010, 03:44 Find this comment inappropriate? Report it

bart leave your mum and grandmother alone- you could get arrested. by clause on March 11 2010, 04:10 Find this comment inappropriate? Report it

Slim Background http://www.telegraph.co.uk/finance/7419211/Carlos-Slim-profile-of-the-worlds-richest-man.html by Humble begings on March 11 2010, 05:48 Find this comment inappropriate? Report it

JuJu Mama boy! Where is JuJu babes when you need him to redistribute their wealth. Imagine if he did it for all in SA - I can get me a ROLEX or three. LoL PS- What is the actual role ANCYL plays in society which is headed up by an old toppie. by zoo_keeper on March 11 2010, 06:15 Find this comment inappropriate? Report it

ANC I will join in my next life I would have been a billionaire!!! I made a mistake for using morality, competency and education in chosing which political party to join. DAMN. In my next life I'll drop that criteria and go straight for the ANC. by XMAN on March 11 2010, 06:17 Find this comment inappropriate? Report it

I am!! I am healthy. In love with my wife after 10 years. Have 2 beautiful children. Work for an NGO helping others. Have saved enough to live on simply, but comfortably. Am assured of my salvation. I am rich. by Swazi on March 11 2010, 09:10 Find this comment inappropriate? Report it

great Congrats Mr Slim-takes a heck of an achievement to build such great wealth irrespective of all other factors. Like some of the other big boys government "help" was at hand but thats not unique. by buffy on March 11 2010, 09:36 Find this comment inappropriate? Report it

SHAME YOU POOR EMPLOYEES Wow it is amazing the interest you poor people show in other peoples lives. I don't waste my employers time and i am the employer and the lambo it is not new it is old, the Aston is three years old though. So get to work while i increase my wealth, . .more and have been buying shares and property while the rest of you dump them. Anyway off to do some work cheers suckers! . .less by BART on March 11 2010, 13:44 Find this comment inappropriate? Report it

Ke nako The rich are getting richer and the poor are getting poorer!! Its a balanced system!! by MIchael" CEO " on March 12 2010, 02:45 Find this comment inappropriate? Report it

The richest person............... ...if the measure includes who has given away the most Gates is still right up there with Mr Buffet.....!! by Bryan on March 12 2010, 20:07 Find this comment inappropriate? Report it

Name
Subject
Comment

View disclaimer