Forbes Notes Increase of Chinese, Youth Billionaires

Russia is among the countries that lost the largest number of billionaires this year, while the number of Chinese and youth billionaires increased, according to Forbes.

WASHINGTON (Sputnik) — A record number of 1,826 billionaires were noted in 2015 as the number of Chinese and youth billionaires increased while the number of Russian billionaires fell, according to a report by US business magazine Forbes released on Monday.

“Despite plunging oil prices and a weakened euro, the ranks of the world’s wealthiest defied global economic turmoil and expanded yet again,” the Forbs report read. “For our 29th annual guide to the globe’s richest, we found record 1,826 billionaires with an aggregate net worth of $7.05 trillion, up from $6.4 trillion a year ago.”

Russia is among the countries that lost the largest number of billionaires this year, according to the report. “The country that was lost the most ground by far was Russia, which now has 88 billionaires down from 111, less than not just the U.S. and China but now also Germany and India,” it said.

Additionally, the report noted that 138 people fell off this year’s Forbes list from 2014, including Ukrainian President Petro Poroshenko and fashion designer Michael Kors.

Bill Gates, claimed the spot for the magazine’s richest billionaire once again, followed by Mexican businessman Carlos Slim Helu and US investor Warren Buffett.

The 2015 Forbes billionaire list included 290 newcomers, 71 of which were from China, while a record of 46 were under the age of 40.