World's Billionaires 2011

by Luisa Kroll and Kerry A. Dolan

Wednesday, March 9, 2011
http://finance.yahoo.com/career-work/article/112309/worlds-billionaires-
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BRIC countries surge; Carlos Slim widens lead atop
list.
This 25th year of tracking global wealth was one to
remember. The 2011 Billionaires List breaks two records:
total number of listees (1,210) and combined wealth ($4.5
trillion). This horde surpasses the gross domestic product
of Germany, one of only six nations to have fewer
billionaires this year. BRICs led the way: Brazil, Russia,
India and China produced 108 of the 214 new names.
These four nations are home to one in four members, up
from one in 10 five years ago. Before this year only the
U.S. had ever produced more than 100 billionaires. China
now has 115 and Russia 101.
Atop the heap is Mexico's Carlos Slim Hel, who added $20.5 billion to his fortune, more than any
other billionaire. The telecom mogul, who gets 62% of his fortune from America Movil (NYSE: AMX -
News), is now worth $74 billion and has pulled far ahead of his two closest rivals. Bill Gates, No. 2,
and Warren Buffett, No. 3, both added a more modest $3 billion to their piles and are now worth $56
billion and $50 billion, respectively. Gates, who now gets 70% of his fortune from investments outside
of Microsoft (Nasdaq: MSFT -News), has actually been investing in the Mexican stock market and has
holdings in Mexican Coke bottler Femsa and Grupo Televisa (NYSE: TV - News).
While nearly all emerging markets showed solid gains, wealth creation is moving at an especially
breakneck speed in Asia-Pacific. The region now has a record 332 billionaires, up from 234 a year
ago and 130 at the depth of the financial crisis in 2009. Sizzling stock markets are behind the surge.
Three-fourths of Asia's 105 newcomers get the bulk of their fortunes from stakes in publicly traded
companies, 25 of which have been public only since the start of 2010.
America's wealthiest still dominate the global ranks, but the U.S. is losing its grip. One in three
billionaires is an American, down from nearly one out of two a decade ago. It has 10 more than last
year but 56 fewer than its 2008 peak. The U.S. is adding new billionaires at a much slower pace; just
6% of its 413 billionaires are new this year compared with 47% of China's and 30% of Russia's.
Still there are plenty of inspiring newcomers who figured out clever ways to get rich. The most obvious
example is the success of Facebook, whose soaring valuation over the past couple of years based
on the most recent institutional round the company is worth $50 billion has spawned six
billionaires. Leading the group is Facebook's CEO Mark Zuckerberg, whose fortune jumped 238% to
$13.5 billion in the past year. Also joining him in the world ranks are his cofounders Eduardo Saverin
and Dustin Moskovitz, its first president Sean Parker (played by Justin Timberlake in "The Social
More at Forbes.com:

The 20 Richest People in the
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The World's Youngest
Billionaires 2011

Notable Newcomer Billionaires
2011
Network") and the Russian Internet investor Yuri Milner. Moskovitz, 26, is eight days younger than his
former college roommate Zuckerberg, making him the world's youngest billionaire.
The frenzy among big investors for all things social pushed up private market values of online gaming
outfit Zynga and online group-buying site Groupon, creating two more new billionaires, Mark Pincus
(who taught people to farm on Facebook) and Eric Lefkofsky (who was Groupon's lead investor).
Other notable American newcomers include Do Won and Jin Sook Chang, the cofounders of
Forever21, and Chris Cline, who owns 3 billion tons of coal reserves, mostly in Illinois.
Why do we spend so much time counting other people's money? Because these moguls have the
power to shape our world. Telecom billionaire turned prime minister Najib Mikati is keeping Lebanon's
government together. Ernesto Bertarelli, who lost the America's Cup to Larry Ellison last year, is now
focusing on saving the oceans from mass extinction. Gates and Buffett have already traveled to three
continents working to change giving practices among the ultra-rich.
Where their inspiration leads, we will follow.
A note on methodology: More than 50 reporters in 13 countries worked on compiling the list this
year, valuing individuals' public holdings, private companies, real estate, yachts, art and cash. Net
worths were locked in using stock prices and exchange rates from Feb. 14

The Top 10 Billionaires in the World
No. 1 Carlos Slim Hel & family
Net Worth: $74 billion
Source: Telecom
Citizenship: Mexico
The world's richest person for a second year in a row, the
Mexican telecom mogul is also the year's biggest gainer, having
added $20.5 billion to his fortune and widened the gap between
him and No. 2, Microsoft cofounder Bill Gates, to $18 billion. A
19% rise in the Mexican stock market, a stronger peso, and
successful mining and real estate spinoffs from conglomerate Grupo Carso all contributed to the
astonishing increase. He also merged his fixed-line telecom company into America Movil, Latin
America's largest wireless carrier; the Slim family stake in that holding accounts for 62% of his net
worth. He has other holdings in retailer Saks and the New York Times. Recently unveiled a new
building for his Soumaya Museum, which houses his vast art collection. It is open to the public for
free.

Chris Goodney/Bloomberg via Getty
Images
No. 2 Bill Gates
Net Worth: $56 billion
Source: Microsoft
Citizenship: U.S.
Microsoft mogul, futurist and America's richest person has, with
help from billionaire buddy Warren Buffett, convinced nearly 60
of the world's wealthiest to sign his "Giving Pledge," promising to
donate the majority of their wealth to charity either during their
lifetime or after death. He is no longer the planet's richest person, but that's because he's given away
$30 billion to his foundation. The Gates Foundation, the world's most influential charity, tackles
tuberculosis and polio and funds famine-resistant crops to fight hunger. He is calling for a higher
sense of urgency in AIDS vaccine development and also pushing for better tools to rate teacher
performance. Gates holds 70% of his wealth in investment fund Cascade, dabbling in everything from
autos to hedge funds to Mexican Coke bottler Femsa; the rest of his wealth is held in Microsoft stock.

No. 3 Warren Buffett
Net Worth: $50 billion
Source: Berkshire Hathaway
Citizenship: U.S.
The venerable investor's Berkshire Hathaway climbed more than
15% over the last year, adding $3 billion to his fortune. The 80-
year-old is still hunting big deals:
"Our elephant gun has been reloaded, and my trigger finger is
itchy." Along with bridge partner Bill Gates, the Oracle of Omaha is coaxing America's richest to
pledge half their fortunes to charity. "Too often a vast collection of possessions ends up possessing
its owner. The asset I most value, aside from health, is interesting, diverse and long-standing friends."
Buffett faked breathing problems when he was 12 so he could move back to Omaha from
Washington, D.C., where his father was a freshman congressman. He had read every book about
investing in stocks in the Omaha Public Library by the time he was 12. He met value investor
Benjamin Graham at Columbia; bought textile firm Berkshire Hathaway in 1965, and transformed it
into massive holding company: food, insurance, utilities, industrials. Buffett acquired railroad giant
Burlington Northern Santa Fe for $26 billion in 2009.

No. 4 Bernard Arnault
Net Worth: $41 billion
Source: LVMH
Citizenship: France
The Lord of Luxe easily retains title of richest European. Fortune
surged by $13.5 billion as shares of his luxury goods outfit,
LVMH, rose by more than half over the past year thanks to
strong demand for luxuries like Dom Perignon champagne,
Cognac Hennessy, Tag Heuer watches and Louis Vuitton accessories, particularly in Asian markets
like Shanghai and Ho Chi Minh City. The group acquired 20% of Hermes last year; Arnault insists he
is a friendly shareholder but Hermes sees it as hostile. In March the Bulgari family transferred its
Jin Lee/Bloomberg via Getty Images
Jemal Countess/Getty Images
Eric Piermont/AFP/Getty Images
majority holding in its brand to LVMH in exchange for LVMH shares and board seats. LVMH fired
Christian Dior designer John Galliano after he apparently made anti-Semitic remarks. Renaissance
man also owns yacht builder Royal Van Lent, a hotel in Courchevel; has stakes in French retailer
Carrefour and French tour operator Go Voyages.

No. 5 Larry Ellison
Net Worth: $39.5 billion
Source: Oracle
Citizenship: U.S.
The Oracle chief sits atop a fortune that is $11.5 billion bigger
than last year thanks to a 30% jump in the software company's
shares. In November Oracle won a mud-slinging copyright
infringement court battle against German software rival SAP
worth $1.3 billion. SAP is contesting the outcome. Oracle has acquired 75 companies over the years
worth $40 billion, and figured out a way to turn a profit on its latest big buy, Sun Microsystems, in
2010. One of the highest-paid executives in the U.S., Ellison reaped $960 million in compensation in
the past five fiscal years, mostly from exercising stock options; he recently cut his salary to $1. An
avid yachtsman, Ellison spent a decade and over $100 million on his quest for the America's Cup,
which he finally won in February 2010, beating Swiss rival (and billionaire) Ernesto Bertarelli. He is
bringing the America's Cup to San Francisco in 2013. Intends to give 95% of wealth to charity.

No. 6 Lakshmi Mittal
Net Worth: $31.1 billion
Source: Steel
Citizenship: India
Net profits at his ArcelorMittal, world's largest steelmaker, were
up 18-fold to $2.9 billion in 2010 due to recovery in steel demand
and higher margins. Group spun off its stainless steel unit into
Aperam, a new listed company, and also acquired Canadian
miner Baffinland Iron Mines. Funding a 377-foot sculpture called ArcelorMittal Orbit in London's
Olympic Park for the 2012 Olympics. Europe's richest resident who lives in London, he bought
Alderbrook Park, a 340-acre country estate outside of the city, where he plans to build an eco-friendly
country mansion for a reported $40 million. Daughter Vanisha acquired stake in Roc Capital
Management, a New York hedge fund. Daughter-in-law Megha owns German fashion house Escada.
No. 7 Amancio Ortega
Net Worth: $31 billion
Source: Zara
Citizenship: Spain
Amancio Ortega stepped down as chairman of Inditex, the $15.8
billion (sales) fashion company, in January; he still gets 87% of
his fortune from his stake in the publicly traded firm. The
company, which operates under several brand names including
ZUMA Press/Newscom
Lefteris Pitarakis/AP Photo
Cabalar/EFE/Newscom
Zara, Massimo Dutti and Stradivarius, has 5,000 stores in
77 countries.
Ortega also owns properties in Florida, Madrid, London
and Lisbon, a horse-jumping circuit, a stake in a soccer
league; and has interests in gas, tourism and banks.
Railway worker's son, he started as a gofer in a shirt store.
With then-wife Rosalia Mera, also a billionaire, started
making dressing gowns and lingerie in living room.
Daughter Marta works for Inditex.

No. 8 Eike
Batista
Net Worth: $30
billion
Source: Mining, oil
Citizenship: Brazil
Brazil's richest man is gearing up to take over the world. Making
a play for foreign investors, Batista announced this year the
opening of an office in New York and his intention to list some of his companies on the London Stock
Exchange. Through his holding company, EBX, Batista controls businesses spanning mining,
shipbuilding, energy, logistics, tourism and entertainment. After months of discussions, he was
triumphant in February in taking control of Canadian gold outfit Ventana. Two-thirds of his fortune
comes from OGX, the oil and gas exploration company he founded in 2007 and took public a year
later. He says the company will start producing oil this year. In rare recent setback, his planned IPO
for his shipbuilding business (OSX), meant to be the world's largest IPO in 2010, was a
disappointment and has had a lukewarm reception in the Brazilian market. The son of Brazil's revered
former mining minister, who presided over mining giant Companhia Vale do Rio Doce, got his start in
gold trading and mining. Onetime champion offshore powerboat racer; formerly married to Playboy
cover girl. In media interviews he's been warning Carlos Slim Hel that he'll soon take his spot as the
world's richest man, but he still has a ways to go.

No. 9 Mukesh Ambani
Net Worth: $27 billion
Source: Petrochemicals
Citizenship: India
His oil and gas conglomerate Reliance Industries, India's most
valuable company, just forged a partnership with BP, selling 30%
stake in 23 oil blocks in India for $7.2 billion and forming a
marketing joint venture. The deal is being touted as one of
biggest foreign investments in India. He's also betting on shale gas, having bought stakes in three
American energy firms for $3.3 billion last year. He and wife Nita host parties at their recently
completed 27-story sky palace in Mumbai, but have yet to move in permanently.

More at Forbes.com:

The 20 Richest People in the
World

The World's Youngest
Billionaires 2011

Notable Newcomer Billionaires
2011
Newscom
Rajanish Kakade/AP Photo
No. 10 Christy Walton & family
Net Worth: $26.5 billion
Source: Wal-Mart
Citizenship: U.S.
Widow of John Walton inherited her wealth after the former
Green Beret and Vietnam War medic died in an airplane accident
near his home in Wyoming in 2005. Now world's richest woman,
she got an extra bump in her fortune because of her late
husband's early investment in First Solar; shares up nearly 500% since 2006 initial public offering. But
bulk still comes from her holdings in Wal-Mart, the retailer founded by her father-in-law Sam Walton
and his brother James in 1962. Today Wal-Mart has sales of $405 billion, and employs more than 2.1
million people. The philanthropist supports museums, education and organic gardening.

L. Matthew Bowler