LATEST:CARLOS SLIM BEATS BILL GATES AS WORLD RICHEST MAN

LATEST:CARLOS SLIM BEATS BILL GATES AS WORLD RICHEST MAN
   Mr. Bassey, a character in Basi & Company, a tele-comedy series on TV (written and produced by late Ken Saro Wiwa) was fond of the statement “To be a millionaire, think like a millionaire). Don’t just think like a millionaire or billionaire, read about them as much as you can. Below is one of such report that you should digest.lol
Carlos Slim, the telecommunications
tycoon who controls Mexico’s America Movil SAB (AMXL), is the richest
person on Earth, according to the Bloomberg Billionaires Index,
a daily ranking of the world’s 20 wealthiest individuals.
The 72-year-old’s net worth fell $478.4 million in a day to
$68.5 billion as of the close of markets on March 2, as U.S.
moguls Bill Gates and Warren Buffett placed second and third on
the list compiled by Bloomberg News. Brazil’s Eike Batista, who
ranks 10th, still covets the top spot after vowing a year ago
that he’d become the world’s wealthiest man by 2015.
“I’m competitive,” Batista, who trails Slim by almost $39
billion, said in a March 2 telephone interview from Rio de
Janeiro. “It’s Brazil’s time to be No. 1. Brazilians have
always admired the American dream. What’s happening in Brazil is
the Brazilian dream and I happen to be the example.”
The Bloomberg Billionaires Index takes measure of the
world’s wealthiest people based on market and economic changes
and Bloomberg News reporting. Each net worth figure is updated
every business day at 5:30 p.m. in New York. The valuations are

listed in U.S. dollars.

Today’s ranking was published with the release of new
billionaires profile pages in the Bloomberg Professional
service. The profiles feature a transparent analysis of how each
billionaire’s fortune was calculated.
Slim’s fortune has increased 11 percent this year,
according to the index. A spokesman for Slim didn’t immediately
return a telephone request for comment.

Gates, Buffett

Gates, 56, co-founder of Microsoft Corp. (MSFT) in Redmond,
Washington, is worth $62.4 billion, down $102.1 million on March
2 and up 11 percent year to date.
The fortune of Buffett, 81, chairman of Omaha, Nebraska-
based Berkshire Hathaway Inc. (BRK/B), declined $336.9 million to $43.8
billion on March 2 and is up 2.4 percent in 2012. Almost all of
Buffett’s wealth is held in Berkshire Hathaway, the publicly
traded holding company he has run since 1965.
The combined net worth of the 20 richest people is $676.8
billion. Nine are Americans, including three from the family of
Sam Walton, the founder of Wal-Mart Stores Inc. (WMT)
Number seven is Larry Ellison, 67, chief executive officer
of Redwood City, California-based Oracle Corp. (ORCL), the world’s
third-largest software maker after Microsoft and SAP AG. (SAP) His $38
billion fortune puts him $4 billion ahead of brothers Charles
and David Koch, who each own 42 percent of Koch Industries Inc.,
one of the biggest closely held companies in the world by
revenue. Charles, 76, and David, 71, control the Wichita,
Kansas, refiner and chemical maker.
Batista, 55, whose investments range from iron ore to coal,
is worth $29.8 billion, up $133.9 million on March 2. His
fortune has grown 32 percent this year, the most on the list.

The House Wins

Sheldon Adelson, the casino magnate who owns 47 percent of
Las Vegas Sands Corp. (LVS), which operates resorts in Macau and Las
Vegas, is number 13 with $25.7 billion. Adelson, 78, and his
family have pledged at least $10 million to a super-PAC
supporting Newt Gingrich, a Republican presidential candidate.
Liliane Bettencourt, 89, who with her family owns 31
percent of Paris-based cosmetics company L’Oreal SA (OR), is last on
the ranking. Bettencourt was the subject of an international
scandal in 2007 when her daughter, Francoise Bettencourt Meyers,
filed a lawsuit accusing a family friend, photographer Francois-
Marie Banier, of exploiting her mother’s frail state. Evidence
later revealed Bettencourt had granted more than $1 billion in
cash and gifts to Banier. In October, Meyers and two grandsons
became guardians of the clan’s $22.4 billion fortune.

Diluting Zuckerberg

Mark Zuckerberg, the 27-year-old founder of Facebook Inc. (FB),
the world’s largest social-networking company, didn’t make the
cut. Based on a roughly $100 billion valuation the Menlo Park,
California-based company has been trading at in the private
market, Zuckerberg’s stake may be worth $21 billion, or about 25
percent less than previous estimates, once Facebook holds its
initial public offering.
The reason: Facebook will issue more than 500 million
shares of its Class B stock at the offering, diluting
Zuckerberg’s ownership to 21 percent after he exercises 120
million options and sells about 42 million shares to cover the
tax bill associated with the gain from those options.
Sweden’s Ingvar Kamprad is the richest European, according
to the index, ranking fourth globally with a $42.5 billion net
worth. Kamprad, 85, controls Ikea Group, the world’s largest
furniture retailer, through a series of trusts and foundations
he asserts he doesn’t own.

Luxury Goods

Bernard Arnault, the chairman of LVMH Moet Hennessy Louis
Vuitton SA (MC) , places fifth. The majority of Arnault’s $42.3
billion comes from his stake in Paris-based LVMH, the world’s
largest maker of luxury goods. Arnault, 63, controls about 46
percent of LVMH’s outstanding stock through his family group,
according to the company’s latest annual report.
Amancio Ortega, whose publicly traded Inditex SA (ITX) owns the
Zara clothing chain, is Spain’s wealthiest individual and sixth
in the world with a $38.8 billion fortune. Ortega, 75, has
invested dividends from Arteixo-based Inditex into a real estate
portfolio that owns office and retail properties in the U.S. and
Europe.
No Russians appear in the index as falling metals prices
hurt the fortunes of many of the richest oligarchs. Alisher
Usmanov, 58, the Muscovite who controls the Metalloinvest metals
and mining company and Digital Sky Technologies, which currently
owns 5.5 percent of Facebook, is Russia’s wealthiest person
thanks to a $20.1 billion fortune.

Asia’s Wealthiest

Mukesh Ambani, 54, leads Asians with a net worth of $26.8
billion, down $185.4 million in a day. His fortune is up 25
percent this year, according to the Bloomberg Billionaires
Index, as his shares in India’s top company by market value,
Mumbai-based Reliance Industries Ltd. (RIL), have risen 17 percent.
Hong Kong’s Li Ka-shing, nicknamed “Superman” by the
local media for his investing prowess, ranks second in the
region, with $25.8 billion. Li, 83, owns large stakes in Hong
Kong-based property developer Cheung Kong Holdings Ltd. (1), Hong
Kong shipping and ports operator Hutchison Whampoa Ltd. (13) and
Husky Energy Inc. (HSE), the Calgary-based energy company.
Lakshmi Mittal, the India-born chairman of ArcelorMittal (MT),
the world’s biggest steelmaker, is the third-richest Asian, with
holdings valued at $23.6 billion. In addition to his
ArcelorMittal stake, the 61-year-old London resident owns
hundreds of millions of dollars in U.K. real estate.
On the rise: Gina Rinehart, the Australian mining heiress
who is worth $20.4 billion. Rinehart, 58, the daughter of the
man who discovered the mines that made Australia the world’s
biggest iron ore exporter, inherited perpetual royalty rights to
some of Rio Tinto Ltd. (RIO)’s Hamersley mines in addition to other
thermal and iron-ore deposits throughout the country.
Soaring demand for coal and iron ore from China have made
Rinehart’s assets attractive to acquisitive industrial
companies. In separate deals in the past year, steelmakers Posco
and GVK Power & Infrasture Ltd. (GVKP) agreed to pay a combined $2.9
billion for pieces of Rinehart’s empire.
To contact the reporters on this story:
Matthew G. Miller in New York at
mmiller144@bloomberg.net;
Peter Newcomb in New York at
pnewcomb2@bloomberg.net
To contact the editor responsible for this story:
Matthew G. Miller at
mmiller144@bloomberg.net

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