|Hurun report launches global rich list.|
Sunday, 18th March 2012
Source : Hurun Research Institute
The Hurun Research Institute today released the Hurun Global Rich List 2012, the inaugural ranking of the individuals in the world with personal fortunes of US$10 billion or more.
The Hurun Global Rich List 2012 is proudly presented by St Regis Lijiang, a leading luxury property development based in world heritage site Lijiang in Yunnan Province, China. Wealth calculations are a snapshot of 24 February 2012.
- 83 INDIVIDUALS IN WORLD WITH TEN BILLION-DOLLAR FORTUNES
- 28-year old Mark Zuckerberg breaks into Top Ten with US$26 bn fortune.
- CARLOS SLIM RICHEST MAN ON PLANET WITH US$55 BN FORTUNE, FOLLOWED BY BILL GATES and warren buffett.
- TWO THIRDS ARE SELF-MADE. ONE THIRD INHERITED THEIR FORTUNE.
- Average age 66 years.
- USA dominates with 27 individuals.
- 5 FROM CHINA
73-year old Carlos Slim of Mexico is the richest man on the planet with a personal fortune of US$55bn.
Despite the Mexican peso weakening 6% against the dollar and a 14% drop in the share value of his largest investment, America Movil, South America’s largest telecoms giant, Carlos Slim’s extensive holdings in mining and banking have kept him ahead of Gates and Buffett.
Second is 57-year old Bill Gates on US$50bn. Gates has been continuing to sell off his shares in Microsoft – at a rate of 20 million shares a quarter – to fund his charitable works. Most of his wealth is now held by his personal investment vehicle, Cascade Investment, together with a US$7bn stake in Buffett’s Berkshire Hathaway.
82-year old Warren Buffet has seen the value of his Berkshire Hathaway stock fall 8% over the past year, but manages to hold onto third place with a US$ 48bn fortune.
28-year old Mark Zuckerberg of Facebook is the youngest self-made ten billion dollar man, followed by 39-year old Sergey Brin and Larry Page of Google with US$17.5bn each.
Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said, “Mark Zuckerberg, Sergey Brin and Larry Page are inspiring a whole generation of new entrepreneurs.”
Despite the euro-zone financial crisis, unrest in the Middle East and a slowdown across the large developing economies of China and India, the most exclusive club in the world – the Ten Billion Dollar Club – heralds 83 members.
So, who are these Ten Billion Dollar Club members? They are 66 years old on average and 56 of the 83 members – almost two thirds – are self-made. They have an average wealth of US$18bn and ten are women, although all of their fortunes are inherited.
Whilst the US and Europe still boast the lion’s share of the Ten Billion Dollar Club with 27 and 17 members respectively, Russia, South America and the emerging giants of China and India are snapping at their heels. The 83 members have a staggering US$1.5 trillion of wealth between them, the equivalent of the total national debt of the UK.
It was a year when the price of gold jumped 21%, oil remained unchanged and the dollar rose against many currencies with the notable exception of the Chinese yuan, which continued to strengthen by 4%. By contract, the Indian rupee went down by 9%, the Euro by 6% and the Brazilian real and Russian ruble by 4% each. Although the S&P 500 rose 5%, for most other markets it was a bad year with the Shanghai composite down a fifth, Hong Kong down 8%, whilst Frankfurt and London were down 3% and 1% respectively.
Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said, “It won’t be long before entrepreneurs from countries like China and India become more dominant, which is why Hurun Report – best-known for the Hurun China Rich List – has decided to put out a Global Rich List.”
The Top 10
The average age of the Top Ten is 67 years old, brought down significantly by Zuckerberg. There are no women in the Top Ten. Half are from the US.
63-year old Bernard Arnault has seen his 47% stake in LVMH shoot up by 19% in the past year, taking his personal wealth to US$42bn and fourth place.
Despite Oracle’s 10% share price fall, 68-year old Larry Ellison’s 22% stake is still worth US$32bn, which together with his other investments puts him in fifth place.
Amancio Ortega,has had a bumper year. His 59% of global fashion group Inditex, which includes the Zara brand, grew by 30%.
79-year old Sheldon Adelson has also seen a rebound in gaming giant Las Vegas Sands’ share price, which increased 25% to take him into the Top Ten.
China and India
China has five people on the list: four from Hong Kong and one from the Mainland. Top is still Li Ka-shing with a US$24bn fortune, down a little following an 8% drop in the HK stock market. By contrast, Cheng Yu-tong has had a great year. Following the listing of jewelry brand Chow Tai Fook last year, US$10bn of Cheng’s US$14bn fortune is now held in the jewelry brand.
55-year old Mukesh Ambani is the richest Indian with a personal fortune of US$25bn. However, software king Azim Premji has enjoyed year best seeing Wipro’s share price rise significantly even despite a 9% weakening of the rupee against the dollar. For Mittal it has been another of those year’s best forgotten: ArcelorMittalshare value has slumped duringthe year, but Mittal’s fortune is still worth US$19.5bn.
Where They Live
The US still holds the lion’s share of the world’s ten-billion dollar fortunes, followed by Russia and South America. Within Europe, Germany leads the way with seven individuals, followed by France and Sweden with three each.
Finance & investments is the key source of wealth for the Ten Billion Dollar Club, followed by IT, retail and natural resources.
Hurun Report would like to thank Anas Rahman Junaid, Said Business School, University of Oxford,Project Manager of the Hurun Global Rich List.
About the St. Regis Lijiang
The Jin Lin Group is a diversified enterprise with assets in international conference centers, hotels, tourism, real estate investment and development, property services, interior decoration, landscaping, mining and international coffee shops. Since the early days of the group, it has integrated tourism projects and real estate investment to development a business based on innovation with a first-class professional team and which advocates persistent attention to detail. Our mission is to create a low-carbon, energy saving, environmental friendly living environment.
The St. Regis Lijiang will be majestically set at the foot of the mist-shrouded Jade Dragon Snow Mountain where guests can experience a mythic destination captivating by nature.
For further information, see www.thejinlingroup.com
Hurun Report would like to thank Anas Rahman, project manager of the Hurun Global Rich List.
About Hurun Report Inc
Nobody Knows China’s Rich Better!
Established as a research unit in 1999 by British accountant Rupert Hoogewerf, Hurun Report Inc has grown into a leading luxury publishing group based in Shanghai, China. Hurun Report Inc has a stable of four luxury magazines, the Hurun Research Institute and an active business events division targeting China’s entrepreneurs and high net worth individuals.
The flagship Hurun Report magazine is published monthly and reaches the households of 98,000 proven wealthy Chinese individuals and their advisers. Hurun Report is best known for its annual Hurun Rich List, widely considered the bible of wealth and de-facto Who’s Who of Chinese business. Today, the Hurun Rich List ranks 1363 renminbi billionaires (equivalent to US$ 150 million).
Hurun Report Inc also publishes Horse & Polo, The Schools Guide Series and Wings & Water.
Horse & Polo provides in-depth coverage about horse related issues including features on Polo, Dressage, Horse Racing, Bloodstock as well as Dogs and Croquet. The magazine is designed to be the glamorous companion for wealthy Chinese with a passion for horses.
The Schools Guide Series explains the respective education systems of various destinations such as the UK, US, Canada, Switzerland and Singapore, issues parents need to take into consideration when making the transition from the Chinese system, and lists the top preparatory, secondary and undergraduate schools.
Wings & Water is for the so-called lion kings of China; those individuals who lead industry and shape opinions. It addresses the needs of those entrepreneurs looking to purchase a jet or yacht, as well as setting out how to maintain these big and costly machines.