Batista jumps up rich list

Finance

Brazilian Eike Batista, controlling shareholder of iron-ore producer MMX Mineraçao & Metalicos SA, is the biggest gainer in this year’s rich-list from Forbes.

Mr Batista, who is also involved in the oil, energy and transportation industries, rose to overall 8th place on the latest standings after increasing his fortune by US$19.5 billion to US$27 billion in 2009, Forbes calculates.

Since making his debut two years ago, Mr Batista has more than quadrupled his wealth, and has soared up the list, which is headed this year by Mexico’s Carlos Slim Helu and American Bill Gates. “Batista is a terrific illustration of how the Brazilian economy is doing,” Forbes senior editor Luisa Kroll said. “Brazil, along with China, is really a place to watch.”

Elsewhere in the mining industry, Russian Vladimir Lisin, once a coal miner whose fortune has been realised primarily through steel and aluminium, finished in 32nd spot with US$15.8 billion.

Iris Fontbona and family, controlling shareholder of Chilean copper miner Antofagasta plc, were the next highest-ranked miners in 52nd place with US$11 billion.

The chief executive officer, and founder, of Fortescue Metals Group Ltd (FMG), Andrew Forrest, regained his status as Australia’s richest man by more than doubling his fortune to US$4.1 billion, placing him 208th overall.

Due to FMG’s fluctuating share price, Mr Forrest has watched his wealth bounce from US$6.5 billion in 2008, down to US$1.9 billion last year, then back up to this year’s figure.

The highest ranked individuals in the steel sector were ArcelorMittal’s Lakshmi Mittal, in 5th place with US$28.7 billion, and Russia’s Roman Abramovich, in 50th spot.

Mining’s rich list

                                          Country                Net worth          Overall

                                                                        (US$bn)             rank

Eike Batista                       Brazil                     27.0                    8

Vladmir Lisin                    Russia                    15.8                    32

Iris Fontbona*                   Chile                      11.0                    52

Oleg Deripaska                 Russia                    10.7                    57

Vladimir Potanin               Russia                    10.3                    61

* And family