The New Rich of China, Russia and Brazil

By: EW News Desk Team   Date: 12 March 2011

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EW News Desk Team

Always on the look out for the latest news to monitor the state of the world economy.

EconomyWatch, News Desk Team

 

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12 March 2011

The economic boom in Asia and emerging economies, as well as inflation all across the globe has caused in increase in a number of billionaires in China, Russia and Brazil in 2011.

According to some reports, sources suggest China is set to have almost doubled the figures of their billionaire headcount to 115. Meanwhile Russia and Brazil have 101, and 30 billionaires respectively - confirmed by Forbes in its annual list of world’s richest men. This is the first time a country has emerged with more than 100 billionaires apart from US which has 413 billionaires till date.

Moscow registered 79 billionaires outnumbering New York’s 58 billionaires.
"The bottom line is BRICs, commodities and Asia Pacific", Forbes Chief Executive Steve Forbes told a news conference on Wednesday.

Mexican tycoon Carlos Slim has retained his position for top spot of world’s richest man for the second time and has made more money than any of the other 1,209 billionaires last year. He now holds $74 billion funds.

In Russia, the commodity boom has generated many of the billionaires while in Brazil, the high commodity prices and a stronger currency has lead to many billionaires. China and India, which have 55 billionaires - helped by the strong economic growth in wide range of sectors.

Full article from TopNews

 


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