Daily Archives: March 8, 2012
The Forbes List of World’s 10 Richest Men in 2012 [SLIDESHOW]
The Forbes magazine released its latest list of billionaires, a pointer to the global wealth, on Wednesday.
There is no change in the top positions of the list as the familiar names such as Carlos Slim Helu, Bill Gates and Warren Buffett have maintained their top positions, in spite of the global economic uncertainties.
The 2012 Forbes list contains 1,226 billionaires with a total worth of $4.6 trillion.
Forbes started compiling the list of billionaires 25 years ago. The first list was out in 5 October 1987 and had 140 individuals and families.
Japanese real estate king Yoshiaka Tsutsumi with a net worth of $20 billion was the world’s richest billionaire in 1987.
Forbes takes into account several factors while calculating the wealth of high networth individuals (HNI).
High value real estate transactions, ownership of luxury items, charity contributions, valuations of equity holdings in public and private firms, real estate assets and the amount of cash they own are some of the deciding factors in determining the wealthiest of the planet.
Though several billionaires from the European nations have made their way to the top ten positions in the list, Britain has its first billionaire at the 78th position in the Forbes’ latest list.
Gerald Cavendish Grosvenor & family, the wealthiest land owner in the UK, comes at the 78th position with a net worth of $11 billion.
Check out the slideshow to know more about the 10 richest billionaires in the world 2012:
2. William Bill Gates- United States
Title: Co-Chair, Bill & Melinda Gates Foundation
Net Worth: $61 Billion
Source: Microsoft, self-made
Education: Dropout from Harvard University
Bill Gates, a regular name in the billionaire list, is the second richest person in the world for 2012.
As the co-chairperson of the Bill & Melinda Gates Foundation, he continuously donates for the causes in the field of education, health and poverty alleviation around the world.
Gates have already donated $28 billion for charity and his initiatives were a major driving force in eradicating polio in India.
No. 3 Warren Buffett
Chief Executive Officer, Berkshire Hathaway
Net Worth: $44 billion
Buffett’s perennial place on the list was secured long ago, but this year he made headlines by announcing he’s chosen his successor.
4. Bernard Arnault – France
Net Worth: $41 Billion
Title: Chairman, Louis Vuitton Moet Hennessy (LVMH)
Education: Bachelor of Arts / Science, Ecole Polytechnique de Paris
Bernard Arnault, Europe’s richest person is in the fourth richest persons in the world, 2012.
Arnault’s luxury goods empire recorded a 22 percent rise in profits mainly due to the increased demands in Louis Vuitton brands and the integration of Bulgari.
No. 5 Amancio Ortega
Former Chairman of Inditex
Net Worth: $37.5 billion
Once chairman of fashion firm Inditex, Ortega stepped down in July 2011. But his shares of the company remained, and grew in value enough to break him into the top 5 for the first time.
6. Larry Ellison- United States
Net Worth: $36 Billion
Title: Co-founder, Oracle Corporation
Source: Oracle, self-made
Education: Dropout, University of Chicago and University of Illinois at Urbana Champaign.
Ellison’s fortunes were down $3.5 billion in 2012 because of the lull in the software and hard ware sales of his company.
Larry Ellison, donates major part of his wealth to charitable purposes and is one of the signatories of “The Giving Pledge,” a campaign to encourage contributions to philanthropic causes, among the wealthiest people in United States.
7. Eike Batista – Brazil
Net Worth: $30 Billion
Source: Mining, oil, self-made
Education: Dropout, RWTH Aachen University
Eike Batista, is the richest man of Brazil. Two-thirds of his wealth is derived from his 61 percent stake in the OGX Petroleo e Gas, his oil and gas company.
8. Stefan Persson – Sweden
Net worth: $26 Billion
Education: Associate in Arts / Science, University of Stockholm
Stefan Persson is the vice president of the clothing chain H&M. The brand has 2,500 shops in 43 countries and has added Versace and Marni to its group of designers in 2011.
Persson’s charity organisation ,Mentor Foundation, works in the area of substance abuse among youth.
9. Li Ka-shing- Hong Kong
Net Worth: $25.5 Billion
Source: Self made
Education: Dropout, High School
Li Ka- shing is the chairman of Hutchison Whampoa Limited is the Asia’s richest person for the first time since 2004.
Hutchison Whampoa has a diverse array of businesses such as port and telecommunication operations, retail, property development and infrastructure.
Li has personal holdings in Facebook and Spotify and Forbes has quoted the 83-year-old as saying “ A person investing in technology will feel younger”.
10. Karl Albrecht- Germany
Net Worth: $25.4 Billion
Title: Co-founder of Aldi
Source: Aldi, self-made
Karl Albrecht’s retail chain Aldi Sud has presence in the UK, Australia and United States apart from Germany.
It has 1,200 across 32 states in the US.
Source: Famagusta Gazette
Greek Cypriots and Turkish Cypriots can again live together in a reunited country, beyond any ethnic, cultural or religious differences as they have proven through long-term coexistence on the island, Foreign Minister Erato Kozakou Marcoullis said in a lecture at the PRIO institute in Oslo entitled ”Cyprus: A common country – a common future for all Cypriots.”
The revival of ties of friendship and cooperation between the two communities, said Marcoullis, is an essential element in reunification efforts. This element, she said, can reveal Cyprus as an example of peace and prosperity in the European family.
Referring to Cyprus issue, the Foreign Minister said that despite more than130 meetings between President Christofias and Turkish Cypriot leader, and five joint meetings with the Secretary General of the United Nations, the progress recorded in is limited, as the new Turkish Cypriot leadership has reneged on convergences achieved by President Christofias and Mehmet Ali Talat.
She also noted that President Christofias is ready for a multilateral conference if and when all internal aspects of the problem have been resolved and ensured by the agreement of both sides.
At the same time, she said that a substantial change in the attitude of Turkey would be a catalyst in solving the Cyprus problem and it would give new impetus to the accession course of Turkey.
Marcoullis referred to the benefits of the reunification of Cyprus, emphasizing the security and economic growth for the all the people of Cyprus and gave as an example the benefits from exploitation of hydrocarbon reserves.
In conclusion, the Foreign Minister reaffirmed the Cyprus Government’s commitment to work towards achieving the goal of reunification of Cyprus and its people.