Bill Gates top the richest for 12th year

Bill Gates retained his title as the world's richest person for the 12th straight year, Forbes Magazine's annual list of the world's wealthiest showed Thursday.

Hind Hariri, 22, daughter of slain Lebanese prime minister Rafik Hariri and eight months younger than Germany's Prince Albert von Thurn und Taxis, is the list's youngest member.

The world now has a record 793 billionaires, up 15 percent from a year earlier, with a rising number in India, Russia, Brazil and the Middle East.

"Why is this list growing? The global economy has been growing the last two years at rates not seen since World War Two, fueled by a commodities boom with a whiff of inflation," said Forbes Chief Executive and Editor-in-Chief Steve Forbes.

Strong stock markets around the world contributed to the surge in wealth. India, whose BSE SENSEX market was up 54 percent in the past 12 months, is home to 10 new billionaires.

Russia, whose RTS stock exchange was up 108 percent, benefited from strong gains in commodities prices. The surge swelled the fortunes of its 33 billionaires, including seven newcomers.

Chinese mainland now has eight billionaires, four times as many as last year.

The United States is home to 44 new billionaires and commands nearly half of the fortunes on the roster.

Source: Xinhua