High Net Worth

Forbes' Annual List Of Global Billionaires Gets Longer, Hints At Wealth Creation Trends

Eliane Chavagnon Editor - Family Wealth Report March 3, 2015

Forbes' Annual List Of Global Billionaires Gets Longer, Hints At Wealth Creation Trends

Forbes has revealed its 2015 list of billionaires. In its 29th year, it is a “snapshot of wealth” taken on February 13, 2015.

A record number of individuals – 1,826 – have made it on Forbes' 2015 list of the world’s richest people, which represents an aggregate net worth of $7.05 trillion, up from $6.4 trillion in 2014.

Needless to say, the rise in the volume of global billionaires, as well as their aggregate wealth, is good news for the wealth management sector and also points to some emerging trends in wealth creation and demographics. As is mentioned further down in this article, for example, the number of female billionaires has risen significantly in the space of just a year, while a “notable newcomer” is the world’s youngest billionaire, 24-year-old Evan Spiegel in the US, ranked in 1,250th place with a net worth of $1.5 billion. Meanwhile, currency markets and political turmoil have also played their part in the shape of this year's list. 

Propelled by a booming technology sector and strong dollar, the US dominated this year's list with 536 billionaires, followed by China (213), Germany (103), India (90) and Russia (88). California has 131, which is “more than any country besides the US and China,” Forbes said.

On a regional basis, Asia-Pacific has the most – 562 – billionaires, closely followed by the US, with 536, and Europe, with 482.

Wealth is also stretching to “new corners of the world,” Forbes found, with one new country, Guatemala, making the list in the shape of billionaire Mario Lopez Estrada (ranked in 1,741st place). Iceland has also made a comeback this year, with billionaire Thor Bjorgolfsson ranked in 1,415th place.

Meanwhile, the number of women on this year's billionaires list increased by 15 per cent to 197, of which 67 are from the US, 19 are from Germany and 13 are from Brazil. With a net worth of $41.7 billion, US philanthropist Christy Walton claimed eighth place for the second year in a row. Walton is the widow of John Walton, one of the sons of Sam Walton, the founder of Walmart.

And Bill Gates once again tops the list – as has been the case for 16 of the last 21 years – with a current net worth of $79.2 billion compared to $76 billion in 2014. For the second consecutive year, Gates nudged out telecom mogul Carlos Slim Helu, whose net worth rose to $77.1 billion from $72 billion last year.

In third place, Warren Buffett move up a spot, with a net worth of $72.7 billion, ahead of the Spanish clothing retailer Amancio Ortega – best known for the Zara fashion chain – whose net worth rose by $500 million to $64.5 billion. Oracle’s Larry Ellison maintained rounded out the top five, his net worth having increased to $54.3 billion.

This year, 290 billionaires new faces graced the list, while 138 dropped out of the rankings and 19 passed away. Most newcomers came from China (71), the US (57), India (28) and Germany (23). Overall, around two-thirds were self-made while 230 inherited their wealth and 405 inherited a portion but are still growing it.

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