For the past decade, Forbes' billionaires list has been as American as apple pie. Gates and Buffett have vied for the top spot, typically followed by the likes of Paul Allen, Dell (Nasdaq: DELL) founder Michael Dell, Oracle (Nasdaq: ORCL) founder Larry Ellison, and Las Vegas Sands (NYSE: LVS) chairman Sheldon Adelson.
But in recent years, the upper echelons have been invaded by international businessmen who are growing their fortunes at an astonishing clip. In the past five years, Slim has increased his net worth eight-fold, thanks to the stellar performance of Latin American telecoms like America Movil (NYSE: AMX). With a fortune currently worth $60 billion, Slim has surpassed Gates and is nipping at Buffett's heels.
Meanwhile, a trio of Indian businessmen lurks behind Gates, poised to leapfrog into the top three slots. Over the past two years, shares of Luxembourg-based steelmaker ArcelorMittal (NYSE: MT) have doubled, helping CEO and 11% shareholder Lakshmi Mittal add $21 billion to his net worth.
As impressive as that feat may be, Mittal is hardly the greatest gainer of the past 24 months. That distinction belongs to Anil Ambani, who has increased his fortune from $5.7 billion to $42 billion in just two years through his ownership stake in India's Reliance Communications and Reliance Power. Anil clocks in as the sixth-richest person in the world, just behind his estranged brother, Mukesh Ambani.
The tremendous performance of international stocks has led to a seismic shift in the composition of Forbes' list. As recently as two years ago, 12 of the 25 richest people in the world were Americans. Now only four are.
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