Zara founder replaces Buffett on Forbes billionaires list

Forbes has released its annual list of the world’s billionaires, topped, as it has been for the past few years, by Mexican telecoms mogul Carlos Slim. His fortune rose $US4 billion on the year before to a tidy $US73 billion.

Bill Gates placed second, with $US67 billion. His wealth increased $US6 billion, even as he gives away half his wealth.

Warren Buffett fell from the top three for the first time in 13 years. He was replaced by Amancio Ortega, the founder of Inditex, who owns fast-fashion chain Zara. He added just under $US20 billion to his wealth, going from $US37.5 billion in 2012 to $US 57 billion this year.

Buffett was just behind on $US53.5 billion.

The highest-ranked Australian was Gina Rinehart, who ranked 36th with a respectable $US17 billion. The next Australian was Rupert Murdoch, who came 91st with $US11.2 billion. Australian commoditytrader Ivan Glasenberg was 175th with $US6.7 billion. 

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