They are worth Billions - Forbes

As emerging economies gained wealth, the total number of billionaires throughout the world increased by 102 over last year to a record 793, according to Forbes Magazine. Their combined wealth grew 18 percent to $2.6 trillion, according to Forbes magazine’s 2006 rankings of the world’s richest people. Investors in new industry sectors popped up on this year’s list, most notably those with holdings in alternative energy and online gaming.

Around the world, the growth in emerging markets -- Russia, India, Brazil -- helped drive the wealth. The U.S. stock market, by comparison, barely increased. Forbes editor Luisa Kroll noted that Russia’s stock market jumped 108 percent between February 2005 and February 2006, while India’s market rose by more than 54 percent during the same period. Brazil "was another bright star" with a market gain of 38 percent, she said.

Kroll said the changes on the list weren’t driven by U.S. investments. "The more exciting story is these emerging markets," she said. "The U.S. stock market was quite a laggard with only a 1 percent increase."

And while China’s market grew just 3 percent, the country added eight more billionaires, up from two last year.

Microsoft founder Bill Gates was again the world’s richest man for the 12th year running, with his net worth rising to $50 billion from $46.5 billion. Warren Buffett, chairman of Berkshire Hathaway, again ranked second; his fortune fell by $2 billion to $42 billion.

The rest of the top 10 underwent a major reshuffling, with three familiar names dropping out of that select group: German supermarket company owner Karl Albrecht, Oracle’s Lawrence Ellison and Wal-Mart chairman S. Robson Walton. The Walton family tumbled in this year’s ranking as stock in the world’s largest retailer dropped more than 10 percent in the past year.

Mexican telecom mogul Carlos Slim moved up one notch to No. 3 with $30 billion, replacing Indian steel magnate Lakshmi Mittal, who fell one place to No. 5 with $23.5 billion.

There are 78 female billionaires on the list. Only six are self-made; most attained their wealth through marriage or inheritance. The youngest billionaire is also female. Hind Hariri, daughter of slain Lebanese Prime Minister Rafik Hariri, is 22 years old and eight months younger than Germany’s Prince Albert von Thurn und Taxis.

The methodology of the rankings remains consistent with years past, Kroll said. The magazine confirmed the worth of an individual’s holdings in public companies by using the Feb. 13 closing stock price, and estimated the value of private companies by looking at comparable public firms in the industry and by consulting with experts in the field. Forbes calculated the value of real estate by square footage minus any debt on the properties.

The ranking of the world’s richest people according to the Forbes magazine.

1. William Gates III, Washington, 50 yrs, $50 billions, Microsoft

2. Warren Buffett, Nebraska, 75 yrs, $42 billions, Berkshire Hathaway

3. Carlos Slim Helu, Mexico, 66 yrs, $30 billions, telecom

4. Ingvar Kamprad, Sweden, 79 yrs, $28 billions, Ikea

5. Lakshmi Mittal, India, 55 yrs, $23.5 billions, steel

6. Paul Allen, Washington, 53 yrs, $22 billions, Microsoft, investments

7. Bernard Arnault, France, 57 yrs, $21.5 billions, LVMH

8. Prince Alwaleed Bin Talal Alsaud, Saudi Arabia, 49 yrs , $20 billions, investments

9. Kenneth Thomson and family, Canada, 82 yrs, $19.6 billions, publishing

10. Li Ka-shing, Hong Kong, 77 yrs, $18.8 billions, diversified