Sunday, May 13, 2012

2012 Ten Richest People in the World

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Here is the list of the latest richest people in the world according to Forbes Magazine. The standing of each billionaire in the listing is quite surprising, compared to the 2011 ranking, two Indians (Lakshmi Mittal and Mukesh Ambani) are no longer in the top ten list.

Contrary to the prediction of Forbes magazine that Mukesh Ambani (the 4th richest person in 2011) would become world's richest man in later years, his assets had decreased by $6.5 billion plummeting his place to 19th this year. Mittal, the 5th richest man in 2011, now placed 21st.

Li Ka Shing of Hongkong, the 9th richest person in the world. His life story is a classic"rags-to-riches". A poor immigrant from China, he was forced to drop out from school at the age of 12 when his father died. He started selling goods in the street at a young age to help his mother raised his younger siblings. His patience, endurance and sacrifices paid off eventually...

One of my personal favorites in the listing since 2005 is Li Ka Shing of Hongkong due to his very inspiring rags-to-riches story. In 2004 to 2007 he was world's 9th richest person but in 2008 to 2011 he was removed from the top ten list due to Asia's difficult economic situation, but this year, 2012, Li moves back to the top ten and now he is Asia's richest person. He is one of the world's great empire builders, he is also one of Asia's most generous individuals, donating $1.6 billion to his foundation.

Li Ka Shing has this very classic rags-to-riches story. A poor immigrant from China (his family fled to Hongkong during Japanese occupation in China). At the age of 12, he was forced to drop out from school when his father died to help his mother raised his younger siblings, he began selling goods in the street. Later on, due to the economic boom in Hongkong, Li started forming his own plastic company, Cheung Kong, manufacturing high quality plastic toys and flowers at lower prices.

The rest is history....

Today, Li Ka Shing is the world's largest operator of container terminals and the world's largest health and beauty retailer. He has an investment in Facebook too.In 2001, he was named "Asia's Most Powerful Man". At 83, Li Ka Shing is still active in his business empire and still the chairman of the board of his flagship companies--Cheung Kong and Hutchison. Just like Warren Buffet, he is also known with his frugality. He wears simple attire and inexpensive wristwatch--Seiko. He lives in Deep Water Bay, Hongkong.

TOP TEN WORLD'S BILLIONAIRES AS OF 2012

1. Carlos Slim Helu
Age: 72
Country:  Mexico 
Net worth: $69 billion
Industry: Telecommunication
Flagship: Telmex America Movil

2. Bill Gates
Age: 56
Country: USA
Net worth: $61 billion
Industry: Information Technology
Flagship: Microsoft

3. Warren Buffet
Age: 81
Country: USA
Net worth: $44 billion
Industry: Investment
Flagship: Berkshire Hathaway

4. Bernard Arnault
Age: 63
Country: France
Net worth: $41 billion
Industry: Fashion, Apparel
Flagship: LVMH (Luxury goods)

5. Amancio Ortega
Age: 75
Country: Spain
Net worth: $37.5 billion
Industry: Fashion, Apparel
Flagship: Zara (High street fashion goods)

6. Larry Ellison
Age: 67
Country: USA
Net worth: $36 billion
Industry: Information Technology
Flagship: Oracle

7. Eike Batista
Age: 55
Country: Brazil
Net worth: $30 billion
Industry: Mining, Oil
Flagship: OGX Petroleo Gas

8. Stefan Persson
Age: 64
Country: Sweden
Net worth: $26 billion
Industry: Fashion, Apparel
Flagship: H&M (Luxury goods)

9. Li Ka Shing
Age: 83
Country: Hongkong, Republic of China
Net worth: $25.5 billion
Industry: Investment, Real Estate
Flagships: Hutchison Whampoa, Cheung Kong Holdings

10. Karl Albrecht
Age: 93
Country: Germany
Net worth: $25.4 billion
Industry: Goods
Flagship: Aldi

See the 2011 World's Richest People listing of FORBES MAGAZINE HERE

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