More good news?

[observer]

128 new billionaires made their debut this year, while 117 dropped out of the ranks. The net result is a record 1,226 billionaires, including the creators of Spanx, Under Armour and 5-Hour Energy.

By Luisa Kroll and Kerry A. Dolan | Forbes .

A quarter century ago FORBES published our first annual list of the World's Billionaires — and we found 140. This year the list broke records for the most number of billionaires (1,226) and combined net worth, at $4.6 trillion, up from $4.5 trillion. Behind those numbers is a more complicated story of rapid change among the world's wealthiest.

Innovation, strong consumer brands and a rebounding U.S. stock market helped produce 128 newcomers and brought 17 former members back into the ranks, while falling stock markets, particularly in China and Russia, were the main culprit for knocking 117 billionaires off the list. Another 12 members from the 2011 list passed away, including buyout titan Teddy Forstmann and Apple's Steve Jobs, whose wife Laurene Powell Jobs takes his spot. Overall, 460 billionaires got richer, 441 got poorer and another 180 held steady.

[kishgo]

Michael Lee Chin is no longer in the Billionaire's club. AIC was not far from our house and his private helicopter would fly over twice a day...once on his way TO work and then on his way home FROM work.

[observer]

He also boated for a season at Turkey Point. Well - actually, he probably went out once or twice - but left his boat there - back in the 80's. I'm sure whatever yacht he has now would not be able to get IN to Turkey Point!

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