Frobes magazine is considered the best parameter to quantify individual’s wealth. It releases annual rankings of rich people worldwide. Latest ranking list has been released on Wednesday March 09, 2011.

Carlos slim has been announced the richest man of the year 2011, according to the Forbes magazine. Carlos slim has been the chief executive and chairman of telecommunication organizations American Movil group and Telemax.He won title of being richest person in 2010 and continued to retain his title in 2011 as well, by having a total wealth of $74 billions. He outdid former rich man of year 2009, Bill gates. Bill gates with 56 billion dollars, Soron and Warren Buffet with 50 billion dollars positioned on number two and three in list, respectively.Both of them had an increase of $3 billions in their wealth however, Slim took a huge jump of $20.5 billions.

Last year, Asia had 234 billionaires that have increased to 332 billionaires this year. Now wealth is also growing in emerging markets of Asia. In addition, five billionaires were added to the list, which belong to social network face book. Face book’s chief executive Mark Zuckerberg, its president Sean Parker, investor Yuri Milner, Eduardo, Savern the co founder and its creator Moskovitz.

In year 2011, there are 1,210 billionaires enlisted and wealth accumulation of all billionaires hits to $4.4 Trillions, which is a new record.US again retains the title of largest number of billionaires this year i.e. 413.China and Russia account for 115 and 101 members in the current list, respectively.Last year America had more than 100 billionaires in list of rich people. Now Russia and china have also joined the same track. Moscow has become a city with largest number of billionaires in 2011.Uk has 32 billionaires in year 2011.