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China and Russia drive growth in world's billionaires Tweet Share this Link this By Michelle Nichols NEW YORK (Reuters) - Rising steel and oil prices in Russia, more honest disclosure in Brazil and booming economies in China and India have fueled a spike in billionaires in the so-called BRIC countries. Moscow is now home to the... Email Print Factboxes Forbes top 10 richest people in the world Wed, Mar 9 2011 Interesting numbers from the Forbes rich list Wed, Mar 9 2011 Related News Facebook puts six on Forbes billionaire list Wed, Mar 9 2011 Moscow is now the billionaire capital of the world Wed, Mar 9 2011 Chinese gaze in awe at rise in country's billionaires 12:22am EST Related Topics U.S. » World » People » Personal Finance » China » Russia » Brazil » Stocks Related Video BRIC countries gain more billionaires Wed, Mar 9 2011 IBM hits new all-time high 1 / 8 Mexican tycoon Carlos Slim speaks during the opening of the Soumaya museum in Mexico City March 1, 2011. Credit: Reuters/Henry Romero By Michelle Nichols NEW YORK | Thu Mar 10, 2011 12:23am EST NEW YORK (Reuters) - Rising steel and oil prices in Russia, more honest disclosure in Brazil and booming economies in China and India have fueled a spike in billionaires in the so-called BRIC countries. Moscow is now home to the most billionaires with 79, followed by New York with 58, Forbes said in its annual list of the world's richest people. The world's richest man, Mexican tycoon Carlos Slim, retained his crown for the second year in a row and made more money than any of the other 1,209 billionaires in the past year: $20.5 billion, taking his fortune to $74 billion. The magazine said China nearly doubled its number of billionaires to 115, while Russia and Brazil posted two-thirds jumps to 101 and 30, respectively. It was the first time countries outside the United States produced over 100 billionaires. India added six billionaires, taking its total to 55, "but the average net worth ... is huge -- $4.5 billion for an Indian billionaire versus $2.5 billion for a Chinese billionaire," said Forbes Chief Executive Steve Forbes. Russia's billionaire growth was attributed to a commodities boom. Brazil's increase came from stricter disclosure rules and a stronger currency. In China and India, strong economies helped create billionaires from a range of industries. "The bottom line is BRICs, commodities and Asia Pacific," Forbes told a news conference on Wednesday. "There is a global commodities boom. But as we should have learned ... commodities can go up very sharply, they can go down very sharply." The Reuters Jefferies CRB commodities index rose 17 percent last year and is up another 8 percent this year as copper and gold hit record highs, grains are near their 2008 peaks and, most recently, oil surged beyond $100 a barrel. Brazil, Russia, India and China produced half the world's 214 new billionaires, double last year's 97 newcomers. The Asia Pacific was home to 105 newcomers, three-quarters of whom earned their fortunes from stakes in public companies. Around the world, the top industries for producing new billionaires were energy, fashion and retail, manufacturing, finance and diversified, Forbes said. RICH AND GENEROUS Microsoft co-founder Bill Gates held on to second place, growing his wealth to $56 billion from $53 billion last year, and investor Warren Buffett again came in third with $50 billion, up from $47 billion. Buffett's Berkshire Hathaway Inc has fared better than Gates' Microsoft. Microsoft shares now trade about where they were a decade ago, while Berkshire shares have roughly doubled. Slim's major companies, which include Mexico's former state telecoms monopoly Telmex, have also seen stock price gains. Forbes said that Gates would have still been the richest man in the world if he had not so far given $28 billion of his wealth to his foundation. He was only knocked off the top spot on the list twice between 1995 and 2010. The wealth of the world's billionaires jumped 25 percent to $4.5 trillion and their average net worth rose to $3.7 billion from $3.5 billion. There were 47 people who dropped off the list, 42 who returned and 10 people who died. The number of women grew to 102 from 89 last year. 1 2 Next U.S. World People Personal Finance China Russia Brazil Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. 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