Forbes Magazine announced its yearly list of billionaires. This year the first place was taken by Carlos Slim from Mexico, taking pride in being the first person, a non - US resident, to beat the list in the last 16 years. Forbes also states that, today, the world has 1,011 billionaires, with US having the highest number of toppers on this list.

A twist to this long standing saga is the entry of China. The country is next in line to the United States; accumulating billionaires and adding the country's pride and almost giving tough competition to Japan.

The United States, as of the present day, has more than 400 billionaires followed by China with 64; if one includes Hong Kong to this list, the count rockets to 89 billionaires. The Magazine also mentioned, this year, there were more than 90 billionaires added and, of them, 27 came from China.

Li Shufu, Chairman of a car making company, is one among the billionaires and is all set to buy the automobile company owned by Sweden - Volvo.

Another billionaire worth mentioning is Zong Qinghou who runs a company that makes soft drinks and said, "We're not afraid of competition. To meet competition, however, you have to continuously innovate." This goes on to prove how his company got to the top of the list.

The booming economy in China also tends to widen the gap between the poor and the rich. In the light of the matter Wen Jiabao, the Chinese Premier, did raise this concern calling the government to act in order to ease the gap. He also said, we will not only make the 'pie' of social wealth bigger by developing the economy, but also distribute it well."