Asians Explode Onto the Forbes List

Posted by Admin - December 22nd, 2011

Each year Forbes compiles a list of billionaires from all over the world. Asia seems to have beat out the rest of the world this year by making the biggest gains.

Asian billionaires including India’s Mukesh Ambani and Hong Kong’s Li Ka-shing increased their wealth as the region’s rich expanded their fortunes at the world’s quickest pace in the past year, Forbes magazine said.Asia’s billionaires have a combined worth of $729 billion, up from $357 billion a year ago, Forbes said in an e-mailed statement. The wealth of their U.S. and European peers jumped 18 percent and 50 percent, respectively.

Apparently much of this growth came from China and India. There are now 234 billionaires from Asia, representing 23% of the total population of billionaires. The gains in Asia are incredibly, but they may be more indicative of how much the recession has hurt Europe and North America than anything else.