Top 7 Richest People in the World in 2010

According to this years edition of Forbes of the richest people in the world in 2010, for the first time a Latin American citizen took the first place. Lets see who made it for the Top 7 richest people in 2010:

1. Carlos Slim Helu

Net worth: $53.5 billion

Source of wealth: Telecom

Country: Mexico

Telecom tycoon who pounced on privatization of Mexico’s national telephone company in the 1990s becomes world’s richest person for first time after coming in third place last year. Net worth up $18.5 billion in a year. Recently received regulatory approval to merge his fixed-line assets into American Movil, Latin America’s biggest mobile phone company.

2. Bill Gates

Net worth: $53 billion

Source of wealth: Microsoft

Country: U.S.A.

Software visionary is now the world’s second-richest man. Net worth still up $13 billion in a year as Microsoft shares rose 50% in 12 months, value of investment vehicle Cascade swelled. More than 60% of fortune held outside Microsoft; investments include Four Seasons hotels, Televisa, Auto Nation. Stepped down from day-to-day duties at Microsoft in 2008 to focus on philanthropy.

3. Warren Buffett

Net worth: $47 billion

Source of wealth: Investments

Country: U.S.A.

America’s favorite investor up $10 billion in past 12 months on surging Berkshire Hathaway shares; says U.S. has survived economic “Pearl Harbor,” but warns recovery will be slow. Shrewdly invested $5 billion in Goldman Sachs and $3 billion in General Electric amid 2008 market collapse. Recently acquired railroad giant Burlington Northern Santa Fe for $26 billion.

4. Mukesh Ambani

Net worth: $29 billion

Source of wealth: Petrochemicals, oil and gas

Country: India

Global ambitions: His Reliance Industries, already India’s most valuable company, recently bid $2 billion for 65% stake in troubled Canadian oil sands outfit Value Creations. Firm’s $14.5 billion offer to buy bankrupt petrochemicals maker LyondellBasell was rejected. Since September company has sold Treasury shares worth $2 billion to be used for acquisitions. Late father, Dhirubhai, founded Reliance and built it into a massive conglomerate.

5. Lakshmi Mittal

Net worth: $28.7 billion

Source of wealth: Steel

Country: India

London’s richest resident oversees ArcelorMittal, world’s largest steel maker. Net profits fell 75% in 2009. Mittal took 12% pay cut but improved outlook pushed stock up one-third in past year. Looking to expand in his native India; wants to build steel mills in Jharkhad and Orissa but has not received government approval. Earned $1.1 billion for selling his interest in a Kazakh refinery in December.

6. Lawrence Ellison

Net worth: $28 billion

Source of wealth: Oracle

Country: U.S.A.

Oracle founder’s fortune continues to soar; shares up 70% in past 12 months. Database giant has bought 57 companies in the past five years. Completed $7.4 billion buyout of Sun Microsystems in January; acquired BEA Systems for $8.5 billion in 2008. Studied physics at U. of Chicago; didn’t graduate. Started Oracle 1977; took public a day before Microsoft in 1986.

7. Bernard Arnault

Net worth: $27.5 billion

Source of wealth: Luxury goods

Country: France

Bling is back, helping fashion icon grab title of richest European as shares of his luxury goods outfit LVMH–maker of Louis Vuitton, Moet & Chandon–surge 57%. LVMH is developing upscale Shanghai commercial property, L’Avenue Shanghai, with Macau billionaire Stanley Ho.

Source. Forbes


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