The number of billionaires around the world is on the rise despite the recent tough economic times, as revealed in the Forbes annual list of world’s billionaires, which was released yesterday.

According to Forbes, the number of billionaires across the globe has expanded to a record 1,826, including 290 newcomers, with a net worth of $7.05 trillion, up from $6.4 a year ago.

The 29th annual list has 290 newcomers, with China producing 71 out of these. The total includes 290 newcomers, 71 of whom hail from China.

UNDER 40 WORLD’S BILLIONAIRES

Even more interesting, is the revelation that the number of youthful billionaires is on the rise. 46 out of the listed billionaires are reported to be under 40.

Evan Spiegel, 24, the co-founder of photo- messaging app Snapchat has been listed as the youngest billionaire on the planet although Facebook’s Zuckerberg takes the lead in the young tuck’s rankings.

RICHEST MAN IN THE WORLD

Bill Gates takes the lead for the 16th time running, as the world’s richest person. His fortune now stand at $79.2 billion up from $3.2 billion last year. Bill Gates has now held the title of the world’s richest, for 16 of the past 21 years.

AFRICA’S BILLIONAIRES

Just as last year, Africa has produced 29 billionaires in the 2015 Forbes’s list of the world’s richest. Nigeria’s Aliko Dangote still remains the richest man in Africa, even though his fortune dropped to $14.7 billion from $25 billion last year.

Dangote is estimated to have lost $10 billion since last year, possibly due to falling stock prices and a recent valuation of the Naira.

39 year old Tanzania’s Mohammed Dewji made his debut on the list with a fortune estimated at $1.3 billion. He also takes the accolade of being Africa’s youngest billionaire.

Dewji’s company, METL Group manufactures textiles and consumer goods and has annual revenues of more than $1.4 billion.

Uganda’s Sudhir Ruparelia ($1.1 billion) who is the founder of the Ruparelia Group is East Africa’s richest man.

South African mining magnate Desmond Sacco and Moroccan real estate Mogul Anas Sefrioui slid off the Forbes rankings this year.

Well, Kenya has not produced any name in the list of Africa’s wealthiest even with business moguls such as Chris Kirubi, Vimal Shah and Manu Chandaria, probably because your guess is as good as mine; Kenyan’s just don’t like declaring their wealth, they would rather keep what they own as closely guarded as possible.