3 Utahns slip a bit on '05 list of billionaires

NEW YORK — Thanks to a surge in demand for steel, the Internet and Scandinavian sofas, there are some new names among the very richest of the world's billionaires.

Indian steel mogul Lakshmi Mittal, Mexican telecom magnate Carlos Slim Helu and Ikea founder Ingvar Kamprad of Sweden knocked several Wal-Mart heirs down a few notches on Forbes magazine's 2005 rankings of the world's billionaires.

The billionaires are richer and more numerous for the second straight year, but the No. 1 spot is unchanged — Microsoft Corp. founder Bill Gates led the list for the 11th year in a row with a net worth of $46.5 billion, slightly less than his $46.6 billion last year.

Investor Warren Buffet held a close second with $44 billion, up from $42.9 billion in 2004.

Mittal, the biggest dollar gainer after quadrupling his net worth by $18.8 billion to $25 billion, climbed 59 rungs from last year to No. 3 in 2005.

Helu came in fourth, up from No. 17 in 2004; Saudi Arabian investor Prince Alwaleed Bin Talal Alsaud ranked No. 5; and Ikea's Kamprad rose to No. 6 from No. 13 last year.

Rounding out the top 10 were Microsoft's Paul Allen, German supermarket company owner Karl Al brecht, Oracle Corp.'s Lawrence Ellison — returning to the top 10 after slipping to No. 12 last year — and Wal-Mart Stores Inc.'s S. Robson Walton.

Four other Waltons took spots 11 through 13, with Alice and Helen Walton once again sharing the title of richest woman in the world with $18 billion each. The five family members of the late Wal-Mart founder Sam Walton are together worth over $90 billion.

As usual, three Utahns made this year's list. Medical devices pioneer James Sorenson fell to the 138th spot with an estimated $4 billion, compared to a ranking of 122nd with $3.9 billion last year. Chemical company founder Jon M. Huntsman fell to 321st with $2 billion, down from 205th with $2.5 billion last year. And R. Earl Holding, who made his money in oil and real estate, came in 507th at $1.3 billion, compared to 472nd with $1.2 billion in 2004.

The number of billionaires grew to a record 691 from 587 last year, and their total net worth rose by $300 billion to $2.2 trillion.

A confluence of factors contributed to the increase, said Forbes associate editor Luisa Kroll, including positive performance by many stock markets around the world — for example, in Ukraine and Iceland, countries that debuted on the list along with Kazakhstan and Poland — and the falling dollar.