11 Mar '11, 5am

Asians overtake Europeans on Forbes billionaire list

NEW YORK - The number of billionaires from Asia on Forbes magazine's annual rich list has surpassed those hailing from Europe, as the overall number of people making the list climbed to an all-time high of 1,210. The billionaires on the list also set a record with a combined wealth of US$4.5 trillion (S$5.7 trillion), up from US$3.6 trillion a year ago. The United States still controls the biggest slice of that wealth, US$1.5 trillion but Forbes noted that more than half of the new billionaires came from China, India, Brazil and Russia. "China really set the tone this year. Asia for the first time has more billionaires than Europe," said Forbes senior editor Luisa Kroll. China alone now accounts for 115 billionaires, up from 69 last year, with technopreneur and Baidu founder Robin Li, the country's richest man with US$9 billion. The number of Hong Kong's billionaires climb...

Full article: http://www.todayonline.com/World/EDC110311-0000232/Asians...

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