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Rich Demographics Global 2002

Forbes magazine has released their 2002 World list of billionaires. There are 497 this year, down from 538 last year. The average age of the World list is 63.2 comprising 32 women at an average age of 60.0 and 465 men at an average age of 63.4.

Top of the list, for the eigth time, is a youthful Bill Gates at age 46 with US$52.8bn counterbalanced by number two, 71 year old Warren Buffett with US$35.0bn. The youngest by far is Germany's prince Albert von Thurn at 18 who had to wait until this ripe old age to inherit $1.4 billion. Oldest is 97 year old Brazilian Roberto Mahrino and family who control Latin America'a largest media group, Organizacoes Globo.

Whilst in previous years the young technology billionaires had made a mark on the list, many have slipped out this year. Inherited wealth dominates the source of wealth. The distribution of amount of wealth by age is slightly skewed towards older ages with the weighted age by wealth at 64 versus 63 by number. You can find a graph for these distributions in the Resources section of this site.

BRW magazine will have their annual Australian Rich 200 out in April. Based on the 2001 list the average age for this Australian list was 59.9 comprising 15 women at an average age of 54.2 and 185 men at average age 60.4. The youngest was Steve Outtrim at 29 and oldest Jim Roche and family at 89.

Posted Sunday, 3 March 2002

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