Music Video: Big Sean – Fire


Carlos Slim Helú

NEW YORK (CNNMoney) -There are a record 1,426 billionaires spread around the globe, according to the latest count from Forbes, as rising stock prices helped bring 210 new members into the exclusive 10-figure club.

The Forbes rankings published Monday showed Mexican telecom mogul Carlos Slim on top of the list for the fourth year in a row. His estimated $73 billion fortune, up from $69 billion a year ago, edged out Microsoft founder Bill Gates, once again No. 2 on the list with a $67 billion fortune.

But Gates’ friend Warren Buffett fell out of the top three for the first time since 2000, as Amancio Ortega of Spanish retailer Zara took the bronze. Ortega’s fortune of $57 billion represented a gain of $19.5 billion from 2012, the biggest gain of anyone on the list.

Don’t worry about Buffett, though, his fortune posted the second biggest increase on the list, rising $9.5 billion to $53.5 billion. Shares of Berkshire Hathaway, his investment firm, rose 17% last year.

The United States once again had the most billionaires at 442, a net gain of 17 from a year ago. That compares to 386 in the Asia-Pacific region and 366 in Europe.

There were 60 people who made the 2012 billionaires’ list who fell out of the club this year, not counting those who died or split their fortunes with family members. Notable dropouts included Mark Pincus, CEO of online gaming firm Zynga, whose stock plunged 75% during 2012, and former Chesapeake Energy CEO Aubrey McClendon.

The biggest loss of wealth of any American billionaire was the Facebook founder Mark Zuckerberg, as his net worth tumbled $4.2 billion to $13.3 billion, taking him down 31 spots on the list to 66th.

But for the most part there were more winners than losers on the list. Altogether the 1,426 billionaires on the list had a combined net worth of $5.4 trillion, up from $4.6 trillion. Most of that gain was due to the larger membership. The average net worth of each billionaire was $3.8 billion, up only $100 million from a year ago.

Obama on Sequester: It’s Just Dumb

Speaking to reporters on Friday about the sequester — the automatic spending cuts required by the Budget Control Act and slated to go into effect today after Congress failed to come up with a longer-term plan for deficit reduction — President Obama was blunt when it came to his view of the cuts and of the Republicans he blamed for them.

“This is not the apocalypse. It’s just dumb,” he said. And he asserted that the economic impacts that the nation will experience will be “happening because of a choice Republicans in Congress have made.”

2014 Jeep Cherokee

America’s off-road specialist Jeep has unveiled the first photos of the 2014 Cherokee – resurrecting one of its most famous model names with plenty of new bells and whistles to meet modern demand. Sporting a more streamlined and futuristic look than its boxier predecessor, the Cherokee is built on the same platform as the Dodge Dart compact. Automotive News has previously reported that the Cherokee would be powered by a 3.2-liter V6 engine based on Chrysler’s 3.6-liter Pentastar engine, as well as an all-new nine-speed front-wheel-drive automatic transmission designed by ZF Friedrichshafen. The automaker released few other details but consumers can expect the Cherokee arriving in dealerships in the third quarter.