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Saturday, March 11, 2006

India, China Add Record Number To Forbes Billionaire List

The New Forbes billionaire list makes interesting reading. More billionaires have been added perhaps than ever this year. The US tops the list with 44 new billionaires and commands nearly half of the fortunes on the roster. The Russian tally increased by 7 to touch 33. China increased the tally by 8 new billionaires. Business Standard points out that 23 billionaires hail from India – thanks to a surging stock market, India has spawned 10 new billionaires in the past year, this number of new entrants is just next only to the US. I looked at the list and find that less than 1/3rd of the billionaires from India have made money from the IT sector – the rest others primarily focused on other industries.

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