A sure sign that the balance of power is shifting away from the United States and Europe towards developing nations is shown in the new Forbes list, with the Mexican Carlos Slim Helu beating out Bill Gates for the top spot and China claiming more billionaires than any country outside the US.
India’s billionaires, however, are richer, as reported in the Christian Science Monitor:
With the release of the latest Forbes rich list of billionaires, India is finding much to brag about – even as other fast-growing economies like China make their mark.
Eight Indians made Forbes magazine’s latest list of the top 100 billionaires, and two – energy tycoon Mukesh Ambani and steel mogul Lakshmi Mittal – sit in the top 5. Mr. Ambani is now the fourth richest person in the world, and the richest person in the Asia-Pacific region.
The highest-ranking Chinese person on the list is Li Ka-shing of Hong Kong, ranked No. 14 with $21 billion.
Ten of Asia’s top 25 billionaires are Indian, while one is from China.
Although China has more billionaires overall than India (and every other country besides the United States, for the first time), Indian billionaires are richer. According to a local edition of Forbes last November, the wealthiest 100 Indians are collectively worth $276 billion, while their top 100 Chinese counterparts are worth $170 billion.
The three richest Indians – Ambani brothers Mukesh and Anil and Mr. Mittal – together had more wealth the top 24 Chinese billionaires combined…
[continues in the Christian Science Monitor]