11 Mar 2011

Moscow now home to the most billionaires

2:01 pm on 11 March 2011

Rising steel and oil prices in Russia, more honest disclosure in Brazil, and booming economies in China and India have boosted the number of billionaires in the so-called BRIC countries.

Forbes magazine's newly-published list of the world's richest people shows Moscow is now home to the most billionaires, with 79, followed by New York with 58.

The Mexican tycoon Carlos Slim has retained his title as the world's richest man for the second year, with a fortune of $74 billion.

Bill Gates is second with $56 billion and Warren Buffett third with $50 billion.

This year's list creates two new records: the number of billionaires rose to a record 1210, and their combined wealth reached a total of

$US4.5 trillion - more than Germany's gross domestic product.