Nigeria’s and Africa’s richest man, Aliko Dangote has been named the biggest loser in the 2015 Forbes list of billionaires.
His fortune dropped to $14.7 billion from $25 billion last year, propelled downward by a weaker Nigerian currency and shrinking demand for cement, his largest asset. However, he still retains the title of Africa’s richest man. 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.
The list shows that entrepreneurship is thriving globally. Fully 1,191 members of the list are self-made billionaires, while just 230 inherited their wealth. Another 405 inherited at least a portion but are still working to increase their fortunes.
Bill Gates is once again the richest person on the planet, a title he’s held for 16 of the past 21 years. His fortune grew $3.2 billion since last year to $79.2 billion, despite a gift of $1.5 billion in Microsoft MSFT +0.07% shares to The Bill & Melinda Gates Foundation in November 2014. Carlos Slim Helu of Mexico comes in again at No. 2 while revered American investor Warren Buffett took back the No. 3 spot from Spain’s Amancio Ortega (now No. 4); not even the largest IPO in history was enough to beat the Oracle of Omaha this year. Buffett was the list’s biggest gainer, up $14.5 billion to $72.7 billion, thanks to Berkshire Hathaway’s rising share price. Facebook’s Mark Zuckerberg moves up 5 spots to number 16, his first time ranked among the world’s 20 richest. Ma and three other Chinese are among the the biggest gainers and appear among the 50 richest on the list.
Zuckerberg is also the leader in a youth revolution that has minted 46 billionaires under the age of 40. The youngest billionaire on the planet is Evan Spiegel, 24, co-founder of photo- messaging app Snapchat. California, driven by Silicon Valley tech companies, has spawned 23 new billionaires, including cofounders of car-hailing service Uber cofounders Travis Kalanick and Garrett Camp, and their first employee Ryan Graves. Elizabeth Holmes, who runs blood-testing firm Theranos, debuts on the global list as the youngest self-made woman at age 31.
