Brazil boasts billionaires

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Forbes magazine in the US has released its annual list of billionaires, offering a peek inside the bank accounts of the world's richest people.

It's a list that is increasingly drawn from countries outside of North America and Europe. The magazine found a record number of billionaires this year, more than 1, 200, who command a total net worth of $4. 5–trillion, or more than three times Canada's GDP. Canada's billionaires had a combined fortune of $85bn, up 15% from 2010, and the country added two billionaires to the list and lost three. Canada lost its distinction as the country boasting the most billionaires in the Americas outside of the United States, falling to Brazil in 2011. The ranking for countries in the magazine's 'Latin America and Canada' region shows Brazil with 30 billionaires, Canada with 24. But Canada's surging stock market, coupled with Mexico's, were leading factors driving up the region's combined billionaire wealth to a record $419bn.

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