[Madeleine Brand:] Back now with DAY TO DAY. I'm Madeleine Brand. Forbes Magazine is out once again with its rankings of the world's richest people, and this year's wealthiest person in the world will come as no surprise. It's Microsoft founder Bill Gates. But this time, a lot of other people have joined him on the list of billionaires. Bob Moon joins us from the Marketplace News Bureau in New York, and Bob, who's in and who's out? Back now with DAY TO DAY. I'm Madeleine Brand. Forbes Magazine is out once again with its rankings of the world's richest people, and this year's wealthiest person in the world will come as no surprise. It's Microsoft founder Bill Gates. But this time, a lot of other people have joined him on the list of billionaires. Bob Moon joins us from the Marketplace News Bureau in New York, and Bob, who's in and who's out?
[Bob Moon Reporting:] Hey, Madeleine. Well, as you mentioned, the richest software tycoon, Mr. Gates, tops the list, and his position would appear to be pretty firm. He personifies the old adage, the rich get richer. His net worth grew from 46.5 billion to $50 billion, a billion here, a billion there; pretty soon, it adds up, you know. No. 2 on the list is Warren Buffett, the Chairman of Berkshire Hathaway. That's the company that owns a collection of businesses, including GEICO Insurance, Fruit of the Loom, Dairy Queen, among many others. Hey, Madeleine. Well, as you mentioned, the richest software tycoon, Mr. Gates, tops the list, and his position would appear to be pretty firm. He personifies the old adage, the rich get richer. His net worth grew from 46.5 billion to $50 billion, a billion here, a billion there; pretty soon, it adds up, you know. No. 2 on the list is Warren Buffett, the Chairman of Berkshire Hathaway. That's the company that owns a collection of businesses, including GEICO Insurance, Fruit of the Loom, Dairy Queen, among many others. All in all, Forbes figures the number of billionaires around the globe grew by about 102 people over the past year, and that means there are now a record 793 billionaires with a combined wealth of $2.6 trillion. Now, the Top 10 did change a bit. Oracle's Larry Ellison and Wal-Mart chairman Robson Walton are no longer among the elite of the elite. All in all, Forbes figures the number of billionaires around the globe grew by about 102 people over the past year, and that means there are now a record 793 billionaires with a combined wealth of $2.6 trillion. Now, the Top 10 did change a bit. Oracle's Larry Ellison and Wal-Mart chairman Robson Walton are no longer among the elite of the elite.
[Madeleine Brand:] And any surprises among those who have fallen off this list? And any surprises among those who have fallen off this list?
[Moon:] Well, maybe not a surprise, but Martha Stewart, who had made her debut on the list last year, is now no longer on the list at all. You can apparently blame her conviction for lying about that stock trade. Her net worth fell in the past year from $1 billion to about half that, and since they've been having a bit of a feud over who was to blame for the lackluster ratings of Stewart's version of The Apprentice, we might note here that Donald Trump is still very much on the list. He's worth a cool $2.6 billion, according to the magazine. Well, maybe not a surprise, but Martha Stewart, who had made her debut on the list last year, is now no longer on the list at all. You can apparently blame her conviction for lying about that stock trade. Her net worth fell in the past year from $1 billion to about half that, and since they've been having a bit of a feud over who was to blame for the lackluster ratings of Stewart's version of The Apprentice, we might note here that Donald Trump is still very much on the list. He's worth a cool $2.6 billion, according to the magazine.
[Madeleine Brand:] Well, the stock market hasn't been performing so well recently. Has that affected the rankings this year? Well, the stock market hasn't been performing so well recently. Has that affected the rankings this year?
[Moon:] Well, indeed, it has. It has hurt some of the wealthiest shareholders, if you will, with the stock market gaining just about 1 percent over the past year. Take, for example, Robson Walton of the Wal-Mart Empire; he fell all the way from 10th to 19th on the list. A number of other members of the Walton family also slid down the list, and that's no surprise, when you consider the fact that stock in Wal-Mart lost about 10 percent of its value over the past year. Well, indeed, it has. It has hurt some of the wealthiest shareholders, if you will, with the stock market gaining just about 1 percent over the past year. Take, for example, Robson Walton of the Wal-Mart Empire; he fell all the way from 10th to 19th on the list. A number of other members of the Walton family also slid down the list, and that's no surprise, when you consider the fact that stock in Wal-Mart lost about 10 percent of its value over the past year. Some of the big gainers were in Russia. Russia's stock market jumped 108 percent between February 2005 and February 2006, and that's where a lot of those billionaires were added to the list. Some of the big gainers were in Russia. Russia's stock market jumped 108 percent between February 2005 and February 2006, and that's where a lot of those billionaires were added to the list. Today in the Marketplace newsroom we're watching a new promise from China to crack down on product piracy. Today in the Marketplace newsroom we're watching a new promise from China to crack down on product piracy.
[Madeleine Brand:] Thank you, Bob Moon of public radio's daily business show, Marketplace, and Marketplace is produced by American Public Media. Thank you, Bob Moon of public radio's daily business show, Marketplace, and Marketplace is produced by American Public Media.