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Friday, June 3, 2011

The 2011 billionaires

In only one year Moscow added 21 more billionaires in US dollars, making a total of 79 and leaving New York far behind in the second place. In only two decades Moscow jumped from no billionaires during the communist regime to 79 now, followed by New York with 59 and London with 41. Other cities from surprising locations are approaching fast: Mumbai (India), Taipei, Sao Paolo (Brazil) and Turkish economic capital Istanbul neck-and- neck with Los Angeles.

Individual billionaires list remained practically the same, with 74 billion owned by Mexican telecom magnate Carlos Slim Helu first, followed by Microsoft founder Bill Gates with 56, the 80 years old Warren Buffet (USA) with 50 the French LVMH owner Bernard Arnault with 41, Larry Ellison owner of Oracle with 39, the Indian “king of iron and steel” Lakhsmi Mital of India with little over the 31 billion of the owner of the Spanish Zara, Amancio Ortega with and oil and mining magnate Eike Batista of Brasil with 30 billion.

The country with most billionaires remains the USA, with 412 richest of the rich, almost four times more than the 115 billionaires in China, followed by Russia with 101, India with 55, Germany with 52 and 38 in Turkey. These are evaluations of the Forbes Magazine, but other voices are more cautious and selective in their reports. Huffington Post, for example put the USA first with 394 billionaires, followed by China (72), Russia (58), India (47), Germany (43), UK (42), Honk Kong (29), Switzerland (27), Japan (23) and Canada (22).

Irrespective of sources, the number of billionaires sharply increased during crisis years, most of them coming from emerging economies of the so called BRIC countries (an acronym for Brazil, Russia, India and China group of countries).

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