102 more billionaires in 2005-06: Forbes
According to Forbes magazine the number of billionaires in the world in 2005-2006 rose to 793 from 681 in 2004-05.

Microsoft Corp. founder Bill Gates remained the world's richest man for the 12th year in a row. His net worth rose to $50 billion up from $46.5 billion last year. Stock market guru Warren Buffett again came second, but the value of his fortune dropped by $2 billion to $42 billion.

The rest of the top ten includes some new names.

Mexican telecom mogul Carlos Slim Helu moved up one place to third place with $30 billion net worth. He replaced Indian steel magnate Lakshmi Mittal, who fell to fifth place with $23.5 billion.

Ikea founder Ingvar Kamprad of Sweden rose two spots to fourth place with $28 billion.

Microsoft co-founder Paul Allen edged up to sixth place from No. 7, with a net worth of $22 billion followed by France's Bernard Arnault who is new to the top 10. Arnault is chairman and chief executive of LVMH and The Christian Dior Group, and is worth $21.5 billion.

Saudi Arabian Prince Alwaleed Bin Talal Alsaud fell to eighth place from No. 5 with $20 billion.

Hong Kong's Li Ka-shing stood at the tenth place with $18.8 billion. Ka-shing is the chairman of Cheung Kong (Holdings) Ltd. and Hutchinson Whampoa.

Toronto-based publisher Ken Thomson was at the ninth spot on the list with assets totaling $19.6 billion.

Three names fell from the top ten list including German supermarket company owner Karl Albrecht, Oracle Corp.'s Lawrence Ellison and Wal-Mart chairman S. Robson Walton.

The Walton family slipped from the top ten as the value of Wal-mart's stock dropped more than 10 per cent in the past year.

Martha Stewart fell from the billionaire's list altogether. She was new to the list last year with an estimated value of $1 billion, but her fortune was cut in half after her conviction and prison term for lying about a stock sale.

China added eight more billionaires, from two last year.

The methods to arrive at the rankings include figuring out the worth of an individual's holdings in public companies using the closing stock price on February 13. For the value of private companies, the magazine looked at the value of comparable public firms.
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