The billionaire list – names for 2008
Volatility in the world's financial and property markets, coupled with the rise of the emerging market billionaire could see some interesting changes in the world's richist list. And could the sage from Omaha upstage them all?
Who will be at the top of the world's wealthiest lists in 2008 - will Bill Gates, Warrant Buffett and Carlos Slim Helu still take the top three places, or will new names appear in the top ten billionaire list published by Forbes?
The current volatility in world financial and property markets suggests some major changes, but also presents a more difficult task of forecasting who will actually make the top ten.
Nevertheless, a number of trends are likely to influence the Forbes' list - published in March - next year.
Probably the most significant trend is the rise of the emerging market billionaire.
And no more so is this the case than in India.
The betting is on Indian Mukesh Ambani - currently number 14 on the list with a fortune estimated by Forbes last March at $20.1 billion - to move up considerably next year. He might even top the list due to the strong rally in the Bombay Stock Exchange main index.
Mr Ambani controls Reliance Industries, the biggest company in India by market capitalization, and Reliance has tracked the rally in the local stock exchange.
His brother, Anil Ambani, controls the other half of the Reliance empire, Reliance Communications, which has also had a strong year. Expect Anil to move up the list - he is currently in 18th place with a fortune worth $18.2 billion.
Lakshmi Mittal, the non-resident Indian who currently is the fifth wealthiest man in the world with a fortune of $32 billion, could end up in one of the top three places given the rise in the price of steel. His major corporate holding - Arcelor Mittal - is the biggest producer of steel in the world.
Carlos Slim Helu, the Mexican telecoms billionaire, and number three on the Forbes list, was touted earlier this year as taking over from Bill Gates as the wealthiest man in the world.
America Movil, Mr Slim's telecommunications operator, which controls about 40 per cent of Latin American mobile phone market, joined forces with AT&T of the US to share a controlling stake in Telecom Italia.
This deal gave Mr Slim a much stronger foothold in the rapidly growing Brazilian mobile market, through Telecom Italia's TIM Brazil, the second-largest operator in the country, which he could then merge with América Móvil's Claro, the third largest, effectively overtaking Vivo, Brazil's largest operator.
Shares in America Movil have taken a hit in recent months, which could affect his place in the list, but he is sure to be among the top of the wealthiest pecking order when the list comes out next year.
There could be some interesting moves in America's most wealthiest.
Bill Gates might be knocked off his pedestal at the top, but this is not conclusive. Microsoft's share price has performed relatively well in 2007, given the turmoil in US financial markets, so he is not expected to fall too far.
Warren Buffett, the sage from Omaha, and the second wealthiest man in the world, could well get first prize next year. Class A shares in his major holding company Berkshire Hathaway have gone through the roof since August as investors head for quality amid the subprime crisis.
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