09 March 2007
A year ago, Forbes magazine said that being a billionaire isn't what it used to be. At the time, it was talking about the rapid growth of the number of billionaires floating around the world. A year on, and the trend continues. In fact, there are 35 percent more billionaires out there today, than there were a year ago - they number nearly one thousand now.
It's been a bad year for the UK's second richest man. Last year, the UK boasted the world's fifth and eleventh richest billionaires. Although, in reality, neither of these two gentlemen are British.
For Lakshmi Mittal, number five on the rich list for the second year in a row, everything is fine. He now counts Arcelor steel as part of his empire and with his country of birth - India - set to continue its rapid growth, it seems unlikely Mr Mittal won't see his stock continue to rise.
But what about poor old Mr Abramovich? Not only has he had to suffer the indignity of seeing Chelsea languish behind Man U in the premiership, he now has to suffer the relegation of his fame status as the world's eleventh richest man, to a mere sixteenth on the list.
According to Forbes, he only put on half a billion dollars in the year, seeing his wealth grow to $18.7 billion.
To find the wealthiest Brit, you have to look all the way down to fifty fifth spot, where you find the Duke of Westminster - worth $11 billion. It must have been a good year for the Duke, because 12 months ago he occupied the one hundredth spot.
Next on the list of UK residents is the Swede Hans Rausing, while Philip Green has been relegated to 104, from last year’s 73. If only he could have pulled off his bid for M&S, he could perhaps have been sitting in the top 50 by now.
As for Sir Richard Branson, he is worth just $3.8 billion, and has to settle for 230th spot.
It's tough at the top too. While that nice young William is still the world's richest man, Warren Buffett - no doubt benefiting from the surging stock markets of the last year or so - is breathing down Gates's neck. Buffett is now worth $52 bullion, just $4 billion less than the Microsoft supremo.
Apparently, there are more billionaires living in London than there are British billionaires. That may sound nonsensical, but it's true.
There are 29 billionaires who are British citizens, but with messrs Mittal and Abramovich leading the pack there are 34 billionaires resident on these shores.
For further information
The World's Billionaires Forbes
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