Gaming billionaire fortunes shrinking: Forbes list 2019

Andrew Cummings
March 7, 2019

Forbes, publishers of the world's most recognised and prestigious annual list of billionaires, yesterday released its 2019 list of black billionaires comprising 13 billionaires of black origin around the world.

"Altogether 11 per cent of last year's list members, or 247 people, dropped out of the ranks, the most since 2009 at the height of the global financial crisis", Forbes said when announcing the list. The total combined net worth of this year's billionaires is $8.7 trillion, down from $9.1 trillion in 2018, Forbes said.

Forbes calculates people's wealth based on stock prices and exchange rates from February 8, covering people worth at least $1 billion.

One of the most notable first-timers on the list is 21-year old Kylie Jenner, who emerged as the youngest billionaire in the world. Mining and Oil This sector features Nigerian born Mike Adenuga who's the world's second richest black person, South Africa's only black billionaire Patrice Motsepe (worth USD2.3 billion), and another Nigerian Florunsho Alakija (worth USD1.1 billion) also has interest in the same field. Ports tycoon Enrique Razon Jr., who also owns integrated entertainment and gaming complex Solaire Resorts & Casino, came in third with net worth of $4.8 billion.

Among the regions, Asia-Pacific was the hardest hit, with 60 fewer 10-figure fortunes.

Amazon founder and chief executive Jeff Bezos remains the world's richest person, ahead of Microsoft co-founder Bill Gates and United States billionaire investor Warren Buffett. He is Africa's 16th richest billionaire with estimated wealth of $1.6 billion.

James Packer - one of the largest shareholders in Australian casino operator Crown Resorts Ltd - ranked 597th in the Forbes list this year, worth of an estimated US$3.6 billion, as compared to US$4.1 billion last year.

There are now 2153 billionaires around the world, the magazine says, down 55 from a year ago. Mr Bezos' fortune stood at US$131 billion, up from US$112 billion previous year.

"This represents the first decrease in billionaires and their combined wealth since 2016 and only the second decrease in the past decade", it said. USA -based investor Warren Buffett, chairman and CEO of Berkshire Hathaway Inc, ranked third with an estimated US$82.5 billion, a net worth that has actually shrunk from US$84 billion past year.

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