Mar. 12 – While 2009 may have been a tough year for the average citizen of the world, it was undeniably an amazing year for Asia’s billionaires who, according to the latest Forbes rich list, more than doubled their net worth.
The continent’s billionaires boasted a combined wealth of US$729 billion last year, up from 2008’s US$357, as they welcomed 104 new members into their ranks – now numbering 234.
China and India, in particular, lead the trend, with China now claiming the second most billionaires in the world after the United States. Chinese billionaires went from 28 in 2008 to 64 last year, while India’s numbers increased from 24 to 49, according to the annual report by Forbes.
Although China claims more billionaires than India, India’s are much richer. Ten of Asia’s top 25 billionaires hail from India, while China claims only one.
In fact, India’s Mukesh Ambani of Reliance Industries and Lakshmi Mittal of ArcelorMittal rank fourth and fifth in the world with US$29 billion and US$28.7 billion, respectively.
Hong Kong’s Li Ka-shing of Cheung Kong Holding and Hutchison Whampoa ranked 14th globally and third in Asia with US$21 billion.
Mainland China’s wealthiest individual is Zong Qinghou of Hangzhou Wahaha Group with a personal wealth of US$7 billion.
