Posted on 03/12/2006 6:57:53 PM PST by Calpernia
NEW YORK As emerging stock markets surged during the past year, 102 wealthy people around the world won a much-coveted title along with their stellar gains they all became billionaires. But tepid returns in the United States ate into the fortunes of some of the richest Americans, including the founding family of Wal-Mart Stores Inc.
The number of billionaires around the world rose by 102 to a record 793 over the past year, and their combined wealth grew 18 percent to $ 2. 6 trillion, according to Forbes magazines 2006 rankings of the worlds richest people.
Microsoft Corp. founder Bill Gates was again the worlds richest man for the 12 th year running. Gates grew wealthier, with his net worth rising to $ 50 billion from $ 46. 5 billion. Investor Warren Buffett, the chairman of Berkshire Hathaway Inc., again ranked second; his fortune fell by $ 2 billion to $ 42 billion.
The rest of the top 10 underwent a major reshuffling, with three familiar names dropping out of that select group: German supermarket company owner Karl Albrecht, Oracle Corp. s Lawrence Ellison and Wal-Mart Chairman S. Robson Walton.
The Walton family, which dominated the upper echelons of the Forbes list in recent years, tumbled in this years ranking as stock in the worlds largest retailer dropped more than 10 percent in the past year.
Walton, known as Rob, who last year ranked 10 th, fell to 19 th with $ 15. 8 billion. Christy Walton, the widow of John Walton, and Jim Walton tied for 17 th with $ 15. 9 billion each, and Alice Walton followed Rob Walton at $ 15. 7 billion. Helen Walton, mother of the clan, did not make it into the top 20, landing at No. 21 with $ 15. 6 billion.
John Walton, the second son of Wal-Mart founder Sam Walton, died in June when the ultralight aircraft he was piloting crashed shortly after takeoff in Jackson, Wyo. He also is survived by a son, Luke.
Arkansas Lt. Gov. Winthrop Rockefeller is ranked 645 th, with $ 1. 2 billion. He withdrew from the race for governor last year to receive treatment for a potentially fatal blood disorder.
Rockefeller is a great-grandson of Standard Oil founder John D. Rockefeller.
Mexican telecom mogul Carlos Slim Helu moved up one notch to No. 3 with $ 30 billion, replacing Indian steel magnate Lakshmi Mittal, who fell two places to No. 5 with $ 23. 5 billion.
Ikea founder Ingvar Kamprad of Sweden rose two slots to No. 4 with $ 28 billion.
Microsoft co-founder Paul Allen edged up to sixth place from No. 7, with a net worth of $ 22 billion. He was followed by Frances Bernard Arnault, chairman and chief executive of LVMH and The Christian Dior Group, with $ 21. 5 billion; Arnault was new to the top 10.
Saudi Arabian Prince Alwaleed Bin Talal Alsaud fell to eighth place from No. 5, with $ 20 billion; and Canadian publisher Kenneth Thomson and his family moved into the top 10, ranking No. 9 with $ 19. 6 million.
Hong Kongs Li Ka-shing rose to No. 10 with $ 18. 8 billion. Ka-shing is the chairman of Cheung Kong (Holdings ) Ltd. and Hutchinson Whampoa Ltd.
Martha Stewart, who was new to the list last year, dropped off completely this year. Her fortune shrank from $ 1 billion to an estimated $ 500 million after her conviction for lying about a stock sale and her five-month prison term.
Forbes editor Luisa Kroll noted that Russias stock market jumped 108 percent between February 2005 and February 2006, while Indias market rose by more than 54 percent during the same period. Brazil was another bright star with a market gain of 38 percent, she said.
Kroll said the changes on the list werent driven by U. S. investments.
The more exciting story is these emerging markets, she said. The U. S. stock market was quite a laggard with only a 1 percent increase.
The growth in emerging markets also meant the Czech Republic placed a billionaire on the list for the first time: Petr Kellner, who debuted at No. 224 with $ 3 billion. And while Chinas market grew just 3 percent, the country added eight more billionaires, up from two last year.
Investors in new industry sectors popped up on this years list, most notably those with holdings in alternative energy and online gambling.
Australian Shi Zhengrong, ranked No. 350, made his $ 2. 2 billion fortune through his solar energy company out of China. Indias Tulsi Tanti, whose company owns Asias largest wind farm, arrived at No. 562 with $ 1. 4 billion after his company went public in October.
J. DeLeon and Ruth Parasol, both of the United States and tied for No. 428, represented the online gambling industry with $ 1. 8 billion each. Interestingly, most of their companys revenue comes from the United States, where online gambling is illegal, Kroll said.
Somehow, they have been able to skirt that, Kroll said.
Parasol is also one of the 10 new women to make the list and the only female newcomer to be self-made. Only six of the 78 female billionaires are self-made; most attained their wealth through marriage or inheritance.
The youngest billionaire is also female. Hind Hariri, daughter of slain Lebanese Prime Minister Rafik Hariri, is 22 years old and eight months younger than Germanys Prince Albert von Thurn und Taxis.
The methodology of the rankings remains consistent with years past, Kroll said. The magazine confirmed the worth of an individuals holdings in public companies by using the Feb. 13 closing stock price and estimated the value of private companies by looking at comparable public firms in the industry and by consulting with experts in the field.
Forbes calculated the value of real estate by square footage minus any debt on the properties. Information for this article was contributed by Michael R. Wickline, Chris Branam and Sharon Crawford of the Arkansas Democrat-Gazette.
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