OTHER WORLD BILLIONAIRES (2010)

World's Billionaires 2010
Wednesday, March 10, 2010
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13) Stefan Persson

Net Worth: $22.4 billion

Source: H&M

Residence: Sweden

• "Cheap chic" mogul is chairman of Hennes & Mauritz (H&M); promoted son, Karl-Johan, 34, to chief executive in July.

• Retailer is known for bringing on big names like Karl Lagerfeld, Stella McCartney to design affordable collections for its 1,900 stores.

• Continuing its designer collaborations with new shoe line with Jimmy Choo that debuted in November and knitwear line with Sonia Rykiel.

• Continues to expand internationally: opened first stores in Russia, Lebanon and South Korea in past year.

• His father, Erling, founded H&M in 1947; Stefan took over in 1982, gave up chief executive position in 1998.

• Reportedly acquired the village of Linkenholt in Hampshire, England, last summer.

• A founder of the Mentor Foundation, nonprofit that combats substance abuse among youth.

• Enjoys downhill skiing, tennis and golf.


AP Photo

14) Li Ka-shing

Net Worth: $21 billion

Source: Diversified

Residence: Hong Kong

• Betting on recovery, upped stakes in publicly traded conglomerates Cheung Kong and Hutchison Whampoa. Cheung Kong paid $100 million for shares in Russian aluminum maker Rusal ahead of its January Hong Kong public offering. Hutchison Whampoa is attempting to take its telecom subsidiary private for $545 million in cash; awaiting regulatory approval.

• Through HW, Li is world's largest operator of container terminals, world's largest health and beauty retailer by number of outlets, a major supplier of electricity to Hong Kong and a real estate developer.

• Has a large holding in Canadian oil firm Husky Energy, which recently announced its third discovery in South China Sea.

• Asia's most generous individual has given out $1.4 billion to education, medical research.

• Humble origins: quit school at age 15 to support his family; made plastic flowers that he exported to U.S. in the 1950s.

• Eldest son, Victor, helps him run businesses; son Richard struck out on his own in early 1990s and is a billionaire in his own right.


AP Photo

15) Jim C. Walton

Net Worth: $20.7 billion

Source: Wal-Mart

Residence: U.S.

• Sam Walton started as J.C. Penney clerk. Opened Benjamin Franklin five-and-dime in 1945; lost lease five years later. Founded Bentonville, Ark., general store with brother James in 1962.

• Today Walmart has $405 billion in annual sales, 2 million employees, more than 8,400 stores.

• Jim runs family's Arvest bank.


AP Photo

16) Alice Walton

Net Worth: $20.6 billion

Source: Wal-Mart

Residence: U.S.

• World's largest retailer benefited as cash-strapped shoppers looked to discount merchandise at start of economic slump.

• Boost may have waned; recently reported 1.6% decline in same-store sales in its U.S. Wal-Mart and Sam's Club stores, warned of soft sales in current quarter.

• Still, shares up 7% in past 12 months and family fortune rose a combined $13 billion, largely recovering losses from market crash.

• Alice funded $100 million airport in Bentonville 1990; building Crystal Bridges Museum of American Art.


Francois Durand/Getty Images

17) Liliane Bettencourt

Net Worth: $20 billion

Source: L'Oreal

Residence: France

• Makeup heiress' fortune rebounding with L'Oreal shares.

• Company, founded by her father, celebrated its 100th birthday in 2009.

• Last year only daughter and heir, Francoise Bettencourt-Meyers, petitioned courts to investigate reported $1.4 billion worth of cash and gifts her mother allegedly gave to Francois-Marie Banier, 61, a well-known photographer, writer and painter whom she befriended. Daughter claims Banier took advantage of her mother, who became a widow in 2007. Liliane denies it; has been ordered to undergo psychological testing before July trial. Mother and daughter apparently no longer speak.

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