Thursday 10 March 2011

Carlos Slim remains world'srichest person: Forbes

Mexican billionaire Carlos Slim remained the richest person in the world with $74 billion in assets, while NRI steel magnate Lakshami Mittal ranked sixth and Indian industrialist Mukesh Ambani is placed ninth in the U.S. magazine Forbes annual list of world's top billionaires.
Telecom tycoon Helu, whose worth increased by $20.4 billion from last year's $53.5 billion, is followed by Microsoft founder and now a full time philanthropist William Gates III (popularly known as Bill Gates) with a net worth of $56 billion.
Investment guru Warren Buffet is at the third spot with assets worth $50 billion.
Total number of billionaires, this year, has increased to a record 1,210 from 1,011 last year.
Though America has the 33 per cent of the mega-rich, the Asia-Pacific region has surged forward and overtook Europe for the first time. Chairman of French luxury good outfit, Louis Vuitton Moet Hennessy (LVMH), Bernard Arnault has been placed at the fourth spot.
With net worth of $41 billion, he is the richest person in Europe.
He has replaced Mr. Ambani this year.
The fifth place has been taken over by Larry Ellison of Oracle. The Oracle chief sits atop a fortune of $39.5 billion, which is $11.5 billion bigger than last year, thanks to a 30 per cent jump in his software company's shares.
Mr. Mittal ranked sixth with $31.1 billion of wealth. His wealth grew from $28.7 billion last year as his company ArcelorMittal, world's largest steel-maker, registered profits of $2.9 billion due to recovery in steel demand and higher margins in 2010, Forbes said.
Mr. Ambani, with net asset of value $27 billion, lost five places and was placed at the ninth position in this year's list.
Last year, Mr. Ambani held the fourth spot, with net asset of $29 billion, followed by Mr. Mittal at the fifth place.
“In one of the biggest foreign investments in India, Reliance Industries has signed a deal with BP by selling 30 per cent stake in 23 oil blocks in India for $7.2 billion and forming a marketing joint venture,” the magazine said.
According to Forbes, the number of billionaires has increased from 49 to 55 in India, 69 to 115 in China, 25 to 36 in Hong Kong, and across Asia-Pacific it surged from 243 to 332.
Other Indians among top 100 include, Wipro chief Azim Premji (36th spot with $16.8 billion), Shashi and Ravi Ruia (42nd place with $15.8 billion), Savitri Jindal (56th rank with $13.2 billion), Gautam Adani (87th spot with $10 billion) and K.M. Birla (97th spot with $9.2 billion)

Number of UK billionaires increases

The number of billionaires in the UK has increased to 32 - with the Duke of Westminster, Gerald Cavendish Grosvenor, again named the country's richest man.
Despite the property slump, the 59-year-old landowner increased his worth to 13 billion dollars - but still only managed 57th on the Forbes global rich list.
The world's richest man is Mexican Telecoms tycoon Carlos Slim Helu, who topped the list for a second year and increased his wealth by 20.5 billion dollars to 74 billion dollars.
Microsoft boss Bill Gates is second with 56 billion dollars and investor Warren Buffett is third with 50 billion dollars.
The UK has three more billionaires than last year.
Property tycoons David and Simon Reuben are second on the UK rich list with 8 billion dollars, followed by high street mogul Sir Philip Green with 7.2 billion dollars.
The Reubens are placed 114th overall while Green is 132nd.
Virgin boss Richard Branson, landowner Charles Cadogan and Formula 1 boss Bernie Ecclestone are next, each with a fortune of 4.2 billion dollars.
The UK top 10 also features the Barclay brothers, David and Frederick, with a 3.2 billion dollar fortune, and Harry Potter author JK Rowling who is worth one billion dollars.
The richest UK resident is Indian steel magnate Lakshmi Mittal, who is sixth richest in the world, with a 31.1 billion dollar fortune.
thaks to  The Press Association

Forbes Rich List Includes Bernard Arnault, Giorgio Armani


kate winslet
Photo: Getty Images
LVMH President Bernard Arnault has made the Forbes 2011 Rich List.
Fashion insiders will recognize a few familiar faces on Forbes's 2011 Rich List.
Though Mexican telecom tycoon Carlos Slim Helú took the top spot as the world's richest man, LVMH head Bernard Arnault isn't far behind. The 62-year-old Frenchman—who oversees luxury brands including Louis Vuitton and the recently acquired Bulgari—came in fourth on this year's list thanks to an estimated worth of $41 billion.
Zara founder Amancio Ortega and Walmart heiress Christy Walton also cracked the top 10, placing 7th ($31 billion) and 10th ($26.5 billion), respectively.
H&M chairman Stefan Persson (No. 13, $24.5 billion), controversial L'Oréal heiress Liliane Bettencourt (No. 15, $23.5 billion), PPR head François Pinault (No. 67, $11.5 billion), and Luxottica eyewear founder Leonardo Del Vecchio (No. 71, $11 billion) were listed among the world's 100 richest people.
Rounding out the top 200 names were Uniqlo owner Tadashi Yanai (No. 122, $7.6 billion), Topshop boss Sir Philip Green and his wife Cristina (No. 132, $7.2 billion), Selfridges chairman Galen Weston (No. 133, $7.1 billion), eBay founder/chairman Pierre Omidyar (No. 145, $6.7 billion), Mango's Isak Andic (No. 159, $6.1 billion), Alain and Gerard Wertheimer of Chanel (No. 162, $6 billion), and Estée Lauder's Leonard Lauder (tied at No. 162, $6 billion).
But perhaps the most notable names (to us) on the list are those of Giorgio Armani and Ralph Lauren. While Armani's $7 billion worth landed him the 136th spot, Lauren and his $5.8 billion fortune had him tied at No. 173.
And here we thought they were priceless ...

Azim Premji is Indian IT's richest man

BANGALORE, INDIA: The Forbes list of billionaires that saw Mexican tycoon Carlos Slim Helu retaining his crown beating the likes of Bill Gates and Warren Buffet, thanks to their philanthropy, also saw some interesting ups and downs. From among the tech giants in India, Azim Premji tops the list.
While Indian billionaire Mukesh Ambani came down to the ninth position, who was overtaken by Lakshmi Mittal as world's richest Indian, who came at sixth position, there are 50 Indians in the Forbes list, including many figures from the IT and telecom fronts. Anil Ambani is ranked 103 with net worth of $8.8 billion.
Some notable Indians fro the tech front include Azim Premji who ranked 36 with $16.8 billion, Shiv Nadar (182, $5.6 billion), N.R. Narayana Murthy and family (595, $2 billion), Nandan Nilekani and family (692, $1.8 billion), Senapathy Gopalakrishnan (Kris) and family (782, $1.6 billion), K Dinesh and family (993, $1.2 billion), S.D. Shibulal and family (1057, $1.1 billion) and Bhupendra Kumar Modi (1057, $1.1 billion).
Interestingly, there are quite a few veterans in the IT industry in the global billionaires list, which also saw quite a few youngsters joining the bandwagon. Some of the other tech giants in the top list are: Larry Ellison (4, US, $39.5 billion, Oracle), Larry Page (24, US, $28 billion, Google), Sergey Brin (24, US, $28 billion, Google), Jeff Bezos: (30, US, $18.1 billion, Amazon), Azim Premji (36, India, $16.8 billion, Wipro), Michael Dell (44, US, $14.6 billion, Dell), Steve Ballmer (46, US, $14.5 billion, Microsoft), Mark Zuckerberg, (52, US, $13.5 billion, Facebook), Paul Allen (57, US, $13 billion, Microsoft), Ananda Krishnan (93, Malaysia, $9.5 billion, Maxis Communications), Robin Li (95, China, $9.4 billion, Baidu), Steve Jobs (110, US, $8.3 billion, Apple), Eric Schmidt (136, US, $7.3 billion, Google), Hasso Plattner (141, Germany, $6.9 billion, SAP).
While Google contributed 10 people to the top list of 1,210 billionaires, Facebook's share is 6. Of the 1210, 102 are women, up from 89 in 2010.
Dustin Moskovitz of Facebook fame is the youngest billionaire in the world at 26, with a fortune of $2.7 billion, while the oldest billionaire is Swiss tech billionaire Walter Haefner, who is 100 and worth $4 billion.
©CyberMedia News

Facebook's fortunes skyrocket on Forbes billionaires list... but no one can beat Carlos Slim

Forbes has released its list of the world’s richest billionaires for 2011, and Facebook has put seven people on the list.
Facebook founder Mark Zuckerberg comes in first of the bunch at number 52.
He is said to be worth $13.5billion, up 238 per cent from last year’s $4billion.
Co-founder Dustin Moskovitz is worth $2.7billion and is in 420th place. Aged just 26, he is the youngest person to make the cut and beats Zuckerberg by eight days. This is his first year on the list.
Mark Zuckerberg fortunes rose $13.5 billion, up 238% from last year
Facebook co-founder Dustin Moskovitz
The Billionaire Network: Facebook co-founders Mark Zuckerberg, left, and Dustin Moskovitz, the youngest people on the Forbes list worth $13.5bn and $2.7bn respectively. There are now seven billionaires associated with Facebook
Billionaires list from Forbes
Co-founder Eduardo Saverin made the list as well at number 782 with $1.6billion, tied with Facebook's first president Sean Parker (played by Justin Timberlake in The Social Network).
Peter Thiel, who invested $500,000 in Facebook in 2004, comes in at 833 with $1.5billion. His stake in the social network is now the bulk of his wealth.
Mark Pincus, the president of Zynga, also came in at 1,140 with $1billion, earned on the back of the site's success. His games, including FarmVille and Mafia Wars, are played on Facebook.
And Russian Internet investor Yuri Milner, who invested in Facebook, came in at 1,140 with $1billion.
Elsewhere, one in three billionaires is an American, down from nearly one out of two ten years ago. The U.S. has 10 more billionaires than last year but 56 fewer than its 2008 peak.
Mexican tycoon Carlos Slim
Microsoft Chairman Bill Gates
Mexico's Carlos Slim topped the list, ahead of Bill Gates. Gates lost the title of World's Richest because he has given so much away
The richest person in the world remains Mexican telecoms tycoon Carlos Slim with a net worth of $74billion  He is also the biggest gainer on the list, with a staggering $20.5billion increase in his wealth since last year.
In second place was Microsoft founder Bill Gates whose personal fortune stands at $56billion, although he has given away more than $30billion to charity.
In third place is investor Warren Buffett on $50billion, but he too would have more had he not begun to give it away.
Both men have signed up to the ‘Giving Pledge’ with dozens of other billionaires to give away half of their fortunes before they die.
The Forbes list revealed that the top top ten wealthiest have a combined net worth of $406billion, up from $342billion in 2010.
The United States continues to have the most billionaires, with 413 but for the first time since the 1990s Asia has more than Europe, with 332 and 300 respectively.
Warren Buffett, CEO of Berkshire Hathaway
New York Mayor Michael Bloomberg
Familiar faces: Businessman Warren Buffett and New York Mayor Michael Bloomberg, are both in the list, worth $50bn and $18.1bn respectively
China and Russia have more than 100 billionaires each with 115 and 101 and Moscow is now home to more billionaires, 79, than any other city in the world.
And while he is as famous for his frugality as his empire of flat pack furniture, Ikea founder Ingvar Kamprad may have to tighten his belt a little further after losing three quarters of his $23billion fortune.
The 84-year-old saw his personal wealth tumble $17billion to just $6billion due to tax issues.
He has fallen 151 places on the list, down from 11th to 162nd place.
Just last month allegations came to light that Kamprad had been secretly running his empire via a foundation in Liechtenstein which supposedly helped his Swedish company avoid paying tax for years.
Nigerian businessman Aliko Dangote
Russian steel magnate Vladimir Lisin
Nigerian sugar, flour and cement tycoon Aliko Dangote was this year's biggest riser, up 557% to $13.8bn. While Moscow overtook New York as the city with the most billionaires, including steel magnate Vladimir Lisin, right, worth $24bn
The claims jarred with his legendary reputation for frugality - he is known for driving a 15-year-old car, flying economy class and encouraging the thousands of staff in his global empire to use both sides of company notepaper when writing letters.
On the Forbes list he was the biggest loser but elsewhere there wasn't much movement.
Zuckerberg's wealth of $13.5 billion was up 238%, but the biggest gainer was Nigerian tycoon Aliko Dangote. The sugar, flour and cement magnate's worth grew 557 per cent, to $13.8billion, landing him at number 51.
Clare O’Connor, a reporter with Forbes' wealth team, said: ‘What is happening to the wealthiest people in the world gives a clue to the wider economy so when you see social media and commodities making big gains, it shows the way the wind is blowing.
‘The biggest loser has been Ingvar Kamprad because of financial issues. As part of the tax issues he has been facing he has stated he is no longer profiting from the Ikea business and is relying on his separate investment company so he has been downgraded.
The fortunes of IKEA founder Ingvar Kamprad fell the most, but he's still a billionaire
The fortunes of IKEA founder Ingvar Kamprad fell the most, but he's still a billionaire
‘Moscow has replaced New York as the billionaire capital of the world and there has been a general movement towards developing countries and Asia.
‘The recession has not had a huge effect on those at the top either.
We are not back to the record levels of 2008 but things are creeping back up.’
After Warren Buffet the richest Americans are Larry Ellison, no.5 with $39.5billion, and Christy Walton and family, of Wal-Mart, who came in at no.10 with $26.5billion.
The Forbes list revealed that Britain has 32 billionaires, three more than last year.
The wealthiest are still land owners Gerald Cavendish Grosvenor and family with a net worth of $13billion.
Also on the list in 132nd place was retail tycoon Sir Philip Green on $7.2billion, Richard Branson at 254th on $4.2billion.
Harry Potter author J.K. Rowling comes in at joint 1,140th and is worth $1billion.
Kamprad has in the past denied any wrongdoing over his financial affairs and said everything has been within the law. Nobody from Ikea was available for comment.

Gates increases stake in CN Railway

MONTREAL - Microsoft founder Bill Gates, the largest shareholder in Canadian National Railway Co., spent $8 million through his investment agency to increase his stake in the rail giant, Gates' firm said in a statement.
Cascade Investment, LLC., headquartered in Medford, Ore., bought 111,560 CN shares for amounts ranging in value from $71.54 to $71.89.
Cascade now owns 37.5 million shares of Canadian National Rail for an 8.15% stake in the company.
Gates owns a further $8.56 million in CN shares through Bill & Melinda Gates Foundation Trust, a charitable trust for which Gates serves as a co-trustee.
Gates controls 10% of the rail company directly or indirectly.
He first bought into CN in 2000 and has gradually increased his stake in the company since then.

Gates Foundation Invests $10 Million in Vaccines Developer

The Bill & Melinda Gates Foundation invested $10 million in Liquidia Technologies, a closely held biotechnology company developing vaccines, as part of a $400 million initiative to fund activities to help poorer countries.
Liquidia is developing a seasonal flu vaccine and has an agreement with the PATH Malaria Vaccine Initiative to use its technology to work on new malaria vaccines, the Research Triangle Park, North Carolina-based company said today in an e- mailed statement. The $400 million program provides low-interest loans, loan guarantees and equity investments to help finance organizations that meet the group’s focus areas.
Microsoft Corp. (MSFT) Chairman and co-founder Bill Gates, in his 2010 annual foundation letter, highlighted the need for a malaria vaccine to eradicate the disease, calling it “the highest-risk malaria work we fund.” The foundation has supplied $13.8 billion in global health funding since 1994, according to its website.
“Funding innovation is a key to addressing the unmet health needs of the world’s poorest people,” Doug Holtzman, deputy director for the foundation’s infectious diseases team, said in the statement. “This unique investment partnership will help us advance vaccine development as part of our commitment to help research, develop and deliver vaccines for the world’s poorest countries.”
Liquidia investors also include Canaan Partners, New Enterprise Associates, PPD Inc., Morningside Venture Investments Limited, Pappas Ventures and Firelake Capital, according to the statement.
To contact the reporter on this story: Meg Tirrell in New York at mtirrell@bloomberg.net.