Monday, March 30, 2015   

Gates reclaims perch as world’s wealthiest
(03-04 11:23)

Microsoft co-founder Bill Gates is back on top of the list of the world's richest people.
Forbes magazine announced its ranking of the world's billionaires Monday.
Gates, who led the list for 15 of the past 20 years, won the spot back from Mexican telecom mogul Carlos Slim Helu, who had topped the list for the past four years. Gates' net worth is estimated at US$76 billion; Slim Helu follows at US$72 billion.
Spanish clothing magnate Amancio Ortega, known for the Zara retail chain, maintained his third-ranked spot and came out ahead of famed US investor Warren Buffett, who ranked fourth. Larry Ellison of Oracle came in fifth.
Forbes says a record 1,645 billionaires made the list this year, with an average net worth of US$4.7 billion. That's up from 1,426 billionaires last year with a net worth of US$4.2 billion. Total net worth of this year's list was US$6.4 trillion, up from US$5.4 trillion last year.
The magazine said that 1,080 of the billionaires were self-made, 207 inherited their wealth and 352 inherited a portion but are still growing it.
The largest net worth gainer on the list was Facebook's Mark Zuckerberg, who more than doubled his fortune to US$28.5 billion as the value of his company's stock soared. He ranks 21st on the list.
Facebook helped bring a few notable newcomers to the list, including Facebook's Chief Operating Officer Sheryl Sandberg and WhatsApp founders Jan Koum and Brian Acton, who recently sold their business to Facebook for US$19 billion.
Forbes said 268 billionaires were new to the list, beating a previous high of 226 newcomers in 2008. And a record number of women made the list this year, with 172 women joining, up 25 percent from last year.
Altogether 100 people dropped out of the rankings, while 16 passed away.
The US was the country with the greatest number of billionaires at 492, followed by China with 152 and Russia with 111. Billionaires from four new countries joined, adding Algeria, Lithuania, Tanzania and Uganda to the geographic mix.

Other Business breaking news:
Billionaire Soros seeks rich pickings in Ukraine (13 mins ago)
Wing On profits shrink, Tai Koo store to close (43 mins ago)
Hang Seng bounces 1.5pc (1 hr 13 mins ago)
Nikkei up at close (1 hr 22 mins ago)
Positive start for Europe equities (1 hr 23 mins ago)
Shanghai, Shenzhen bull run continues (1 hr 39 mins ago)
Hang Seng, Shanghai rally (03-30 14:04)
Red flags raised over Tianhe, WHO puts Sihuan on the spot (03-30 14:01)
Concerns over missed filings by Morgan Stanley fund stocks Tianhe Chemical and Sihuan Pharma (03-30 13:59)
(Autos) Lincoln Continental embraces its heritage (03-30 12:52)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.