Mexican is new world's richest man | Gatton Money, Business and Property | Business News for Gatton, Australia

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THE world's new richest man, Mexican Carlos Slim, and a fresh crop of billionaires in Asia helped lead a comeback for the wealthiest few on the planet in 2010, Forbes magazine said on Wednesday.

The publication's annual rich list reflected a resurgence of wealth after the financial turmoil of 2009, with the top 10 wealthiest worth a combined $US342 billion ($A374.06 billion), compared to $US254 billion ($A277.81 billion) in the previous year.

"The global economy is recovering. The financial markets came back, especially emerging markets," said magazine editor-in-chief Steve Forbes.

"There's a 50 per cent increase in general global wealth compared to last year," Forbes said.

Certainly the economy recovered for the super rich, who took a beating during last year's stock and commodity market collapses, but saw across-the-board gains this year.

Forbes counted 1,011 billionaires from 55 countries, up from 793 last year, though still shy of the pre-crisis 1,125 listed in 2008.

Slim, 70, took the top spot for the first time, pushing Microsoft founder Bill Gates out as he rose from third place on the success of America Movil, Latin America's biggest mobile phone operator.

This was the first time since 1994 that a non-US citizen took the spot.

Despite Gates, 54, slipping to second place, the United States remained by far the dominant home of the super-rich, with 403 billionaires, or 40 per cent of the world's ten-figure fortunes, down from 45 per cent.

That includes number three Warren Buffett, who at 79 is considered one of the most reliable and successful Wall Street investors, and Oracle's Lawrence Ellison, 65, who completed a $US7.4 billion ($A8.09 billion) buyout of Sun Microsystems in January.

The list includes 97 fresh billionaires, 62 of them charging out of Asia, a region that saw booming stock markets and several large public offerings in the past year.

Mainland China was for the first time the country with the most billionaires after the United States with 64, including 27 newly minted ones. Including Hong Kong, the Chinese account for 89 billionaires.

Russia comes in third with 62 billionaires, many of them commodities kings who fell off the list last year, only to see their vast natural resource holdings regain value this year.

Europe is still the number two super-wealthy region, with 248 billionaires. The richest European is France's Bernard Arnault, 61, whose LVMH sells Louis Vuitton, Moet & Chandon, and other luxury goods, with his net worth at $US27.5 billion ($A30.08 billion).

Just behind Arnault is Spain's Amancio Ortega, owner of the Zara clothing chain, with $US25 billion ($A27.34 billion).

Asia trails Europe by only 14 billionaires and the region's net worth of $US729 billion ($A797.33 billion) is double what it was a year ago.

The region's richest man, oil-and-gas tycoon Mukesh Ambani, 52, climbed to four from seven on the list with a net worth of $US29 billion ($A31.72 billion), up $US9.5 billion ($A10.39 billion).

Pakistan has its first person on the list, Mian Muhammad Mansha, at number 937 with an even $US1 billion ($A1.09 billion).

Sorted by city, billionaires congregate first in New York, where there are 60, then Moscow at 50, and London at 32.
 

How the Aussies faired

A dozen Australians - including now American citizen Rupert Murdoch - have made it onto the list, amassing a respectable $32 billion in wealth.

Mr Murdoch is the first Australian name on the Forbes at equal 117.

The next is West Australian mining magnate Andrew "Twiggy" Forrest, with an estimated $US4.1 billion ($A4.48 billion).

Frank Lowy, James Packer, Harry Triguboff, John Gandel, Gina Rinehart, Lindsay Fox and Gerry Harvey also make the list, with Solomon Lew sneaking in at equal 937 with an even $1 billion.

South African-born founder of Platinum Asset Management, Kerr Neilsen, and UK-based hedge fund manager Michael Hintze round out the list of Australians.

Missing, however, is Clive Palmer. BRW magazine in 2009 listed the Queensland mining magnate as Australia's fifth richest man worth $1.5 billion.