Gates continues to lead world's rich list

Microsoft co-founder Bill Gates is still the richest man in the world but his lead over other entrepreneurs is narrowing, according to Forbes magazine's new list of billionaires. Gates leads the rich list for a 13th straight year with a tidy nest egg of more than $A72 billion.

But US investment guru Warren Buffett's personal fortune has climbed to $66.9 billion, halving the software mogul's lead.

There is now a record 946 billionaires in the world, up more than 150 from last year. Forbes attributes the increase to a commodities boom, the march of technology and the relative weakness of the US dollar.

The list's total net worth has grown 35 per cent from last year to $4.5 trillion. Mexican telecommunications mogul Carlos Slim Helu has jumped into third place with a massive $24.4 billion increase in his net worth.

The magazine's editor in chief, Steve Forbes, says the list is a reflection of a dynamic global economy. "More people are better off on this Earth than ever before," he said. "This boom goes beyond commodities.

"One of the things that has facilitated this global boom, bringing hundreds of millions of people into the global economy, is of course technology.

"This is the richest year in human history."

While the 20th annual list is dominated as usual by US businessmen, Russian oligarchs and Asian entrepreneurs - especially those from India and China - are increasingly making their presence felt.

Thirty-six Indian billionaires, led by steel magnate Lakshmi Mittal, now feature on the list.

They boast a total wealth of $245.7 billion between them, knocking out Japan after two decades as the leading Asian power on the list.

But even India's dominance would be overturned if China and Hong Kong were lumped together.

They have 41 billionaires, led by Hong Kong property magnate Li Ka-shing and China's paper manufacturer Yan Cheung.

In Europe, the most excitement came from Russia and Spain, with 10 new Spanish names on the list and 19 Russian newcomers.

AFP