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2011 New Billionaires

World Money
2011 New Billionaires

Forbes 2011 billionaires list welcomes 214 new billionaires to the rankings, compared with only 97 in last year’s crop.

China leads the way with the most new billion-dollar fortunes, with 54 new list members; Russia comes in second with 31, including social media investor Yuri Milner, whose bets on U.S. companies Facebook, Zynga and Groupon have paid off nicely.

 

Li Li

Net Worth: $5.7 billion

China  , Age: 47

Asia’s richest newcomer became a billionaire when his pharmaceutical firm floated on the Shenzen Stock Exchange in 2010.

Xavier Niel

Net Worth: $3.7 billion

Source: telecom

Age: 43  , France

Niel joins the list thanks to his stake in Iliad SA, a major player in the French telecom market.

Lars Larsen

Net Worth: $3.6 billion

Source: home furnishings

Age: 62  ,Denmark

One of Denmark’s best known business figures, he’s earned the nickname “Duvet Larsen” because of his start selling bedding. His Danish home furnishing chain, JYSK, a competitor to IKEA, racked up $3 billion in sales last year.

Andre Esteves

Net Worth: $3.0 billion

Source: banking

Age: 41  ,  Brazil

The swashbuckling chief executive of Brazilian investment bank BTG Pactual joined the list after selling 18% of the bank to a consortium of foreign institutional investors for $1.8 billion.

Chang Jin Sook & Do Won

Net Worth: $2.2 billion

Source: Forever 21  , United States

Fast fashion welcomes a new pair of billionaires to the fold. Founder of Forever 21 Do Won Chang and his wife Jin Sook immigrated to America from Korea in 1981. They opened their first store in 1984; sales grew from $35,000 to $700,000 that year. Today Forever 21 operates 470 stores worldwide.

Mike Adenuga

Net Worth: $2.0 billion

Source: telecom

Age: 57 , Citizenship: Nigeria

Nicknamed “the Guru” in his native Nigeria, Adenuga debuts on Forbes billionaires list after making waves with mobile technology. His telecom carrier Globacom recently launched a 4G network, and he’s invested $1 billion on a submarine cable connecting Nigeria to the rest of the world. He made his first million at age 26 selling lace and distributing Coca-Cola, then won a contract to build military barracks in the late 1980s. He owns a stake in the Equitorial Trust Bank and chairs Niger Delta oil exploration firm Conoil. Adenuga is a soccer devotee and sponsors a number of tournaments.

Mohammed Mansour

Net Worth: $2 billion

Source: automotive

Age: 63 ,Egypt

Mansour and his two brothers debut on the billionaires list, each with their own billion-dollar fortunes, despite revolution raging in their native Egypt. The Mansours are the biggest sellers of GM vehicles worldwide, and their Mansour Group has other interests, including the largest supermarket chain in Egypt, and the country’s second largest real estate developer.

Kim Jung-Ju

Net Worth: $2.0 billion

Source: gaming

Age: 43  , South Korea

Korean billionaire’s firm Nexon launched the world’s first online game, “Baram e Nara” (The Kingdom of the Wind) way back in 1994, and went on to produce hits “Maple Story,” “Mabinogi” and “Kart Rider.” Now the country’s foremost online game producer, Nexon’s annual revenues are set to top $900 million. Its Japanese offshoot, Nexon Japan, is getting ready to float on the Tokyo Stock Exchange this year.

Chip Wilson

Net Worth: $1.9 billion

Source: Lululemon

Canada  , Age: 54

Wilson made a bundle selling luxury workout wear: Stocks in his yoga-inspired apparel company Lululemon were up 170% this past year, earning him a spot on the billionaires list.

Frank Stronach

Net Worth: $1.7 billion

Source: auto parts

Age: 78  ,  Canada

Canada’s auto parts king left his native Austria for Montreal in 1954, where he spent three years working menial jobs such as caddy, dishwasher and machinist. Opened his own tool and die shop with his friend Tony Czapka in 1957; today Magna International is one of the world’s biggest automotive parts suppliers.

Sean Parker

Net Worth: $1.6 billion

Source: Facebook ,Age: 31

Facebook’s founding president debuts as a billionaire, thanks to the surging value of his stake in the social networking site. Parker, who was played by Justin Timberlake in Oscar-winning film The Social Network, reportedly owns just under 3% of the company. He first made a name for himself at age 19 cofounding notorious music file sharing site Napster, one of the engines of the record industry’s decline.

Christoffel Wiese

Net Worth: $1.6 billion

Source: retail

Age: 69  ,  South Africa

The South African makes the cut thanks to his stake in the continent’s biggest retailer, low-price supermarket chain Shoprite. Known as “Christo,” he also owns a stake in discount clothing, shoes and textiles chain Pepkor (slogan: “Making the desirable affordable”).

Garibaldi Thohir

Net Worth: $1.5 billion

Source: coal

Age: 45  , Indonesia

Named for the famous Italian war hero, the newly minted billionaire joins the list thanks to a 30% boost in the stock of his Adaro mining empire.

Diego Della Valle

Net Worth: $1.3 billion

Source: luxury goods

Italy , Age: 57

The chairman of Italian shoe maker Tod’s steps into billionaire status as the luxury fashion market continues its post-recession comeback: shares were up more than 65% since last February.

Angela Leong

Net Worth: $1.1 billion

Source: gaming

Age: 50  ,Hong Kong

The former ballroom dance teacher from Guangzhou rose from humble beginnings to become the managing director of her husband Stanley Ho’s casino empire, Sociedade de Jogos de Macau (SJM). The fourth “wife”–although never properly married–and purported favorite of Ho, makes her debut after Ho, who had been sick, recently transferred shares in SJM to her. Ho’s family, which includes 17 children and the four wives, are now locked in a bitter feud over control of his wealth. Leong is a second-term lawmaker in Macau, where she plans to build a $1.3 billion family-oriented theme park. Her wealth includes a stake in SJM and properties in Hong Kong.

Shlomo Eliahu

Net Worth: $1.1 billion

Source: finance

Age: 75  , Israel

Baghdad-born Eliahu made his first billion in banking and insurance.

Mark Pincus

Net Worth: $1 billion

Source: Zynga  , Age: 45

The founder of Facebook-ready interactive game “FarmVille” has joined the billionaires club this year. In 2007 the Wharton and Harvard Business School grad founded social media gaming company Zynga, named after his beloved late bulldog. Today, following the latest round of funding, the firm is worth between $7 billion and $10 billion. Zynga’s staggering success is tied to Facebook’s; its popular titles including “FarmVille,” “FrontierVille” and “Mafia Wars” are played via the social network. Pincus himself is reported to be a Facebook investor. Zynga’s latest game, “CityVille,” attracts 20 million players per day.

Kim Tack-Jin

Net Worth: $1.0 billion

Source: gaming

Age: 44  ,  South Korea

His online gaming company, NCSoft, saw its stock price double in 2010, boosting Kim to billionaire status. As a student at Seoul National University he developed software to help practice typing in the Korean language. He launched NCSoft soon after graduation. Last year’s hit game “Ion” was a success beyond Korea, selling big in the Chinese market.

Gerald Schwartz

Net Worth: $1.0 billion

Source: private equity

Age: 69  , Canada

Schwartz is known as Canada’s Henry Kravis, with more than 260 deals under his belt at his private equity firm Onex Corp. The Harvard M.B.A. founded Onex in 1984 after stints at Bear Stearns and CanWest. Schwartz also owns a large stake in electronics manufacturer Celestica.

Yuri Milner

Net Worth: $1 billion

Source: social networking

Age: 49  ,  Russia

The savvy Internet investor hit the list thanks to the growing value of his social media holdings. He divided his Digital Sky Technologies into two parts last year, taking e-mail portal Mail.Ru public. His DST Global remains a private fund investing in global Internet companies like Facebook, Zynga and Groupon. In 2009 DST paid $200 million for a stake in Facebook; this initial investment has grown an estimated five-fold since then. Next, he plans to invest in every startup that comes out of Silicon Valley-based incubator Y Combinator without reading the business plan.

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