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Forbes top billionaires boast Island connection

Millionaires just don't cut it these days.Prestigious Forbes magazine has compiled a list of the world's billionaires -- and several of the 465 who made the grade enjoy a Bermuda connection.

Millionaires just don't cut it these days.

Prestigious Forbes magazine has compiled a list of the world's billionaires -- and several of the 465 who made the grade enjoy a Bermuda connection.

Dictators and royalty are excluded but the king of software giant Microsoft Corporation, Bill Gates, retained his title of the world's richest man for the sixth year in a row.

Since last year his fortune has swelled from $58.4 billion to $90 billion.

Not too far behind in 18th spot is Bermuda's top contender, Curt Engelhorn with $12 billion.

Mr. Engelhorn owned a 40 percent stake in pharmaceutical company Corange Ltd until it was purchased by the Swiss pharmaceutical group Roche.

He owns Five Star Island in the Great Sound and donated $1 million to Bermuda College to equip its science labs a few years back.

Former Italian Prime Minister Silvio Berlusconi, whose daughter owns Blue Horizons in Tucker's Town, tied with Mexican industrialist Slim Helu in 34th place, both enjoying $8 billion fortunes.

Swiss Baron Hans Heinrich Thyssen-Bornemisza whose trust is at the centre of a vicious family court battle in Bermuda at the moment ranked 250 on the list, after Forbes estimated his fortune to be worth a paltry $2 billion.

And the $7.2 billion riches of Australian-born entrepreneur Rupert Murdoch whose stable of newspapers, movie studios and satellite TV networks filter their profits through a Bermuda-based holding company, put him in 41st place.

Gary Winnick, the Los Angeles brain behind Bermuda-based upstart telecom company Global Crossing, has amassed $5.1 billion in investments according to the list -- placing him 67th.

Former US presidential candidate Ross Perot came in in 115th place with his $4 billion empire that includes a house in Tucker's Town.

Fidelity Investments honcho and generous BUEI patron Edward Johnson III also has a place in Bermuda and ranked 224th with his $2.2 billion fortune.

American International Group insurance guru Ernest Stempel who lives in Bermuda was 290th on the list with his $1.7 billion stash.

BUSINESS BUC