The latest Forbes rich list shows Asia has displaced Europe in the billionaire league table.
There are now 1,210 billionaires in the world from 1,011 in 2010, a record surpassing the previous high of 1,125 in 2008.
Underscoring the growing economic might of countries in Asia-Pacific, the region had more billionaires than Europe for the first time in more than 10 years - 332 from Asia compared with 300 in Europe.
Asia-Pacific also recorded the fastest regional growth in wealth, bringing in 105 newcomers to the list, among the 214 billionaires who made their debut.
China is the fastest-growing country for billionaires - the number of billionaires almost doubled from 65 to 119. There are 54 Chinese newcomers on the list. Moscow displaced New York as the city with the greatest number of billionaires with 79, compared with New York's 58.
However, the West still dominates the top of the chart when it comes to absolute wealth. There are 413 billionaires in the US with a net worth of US$1.5 trillion, up from the 403 in 2010 with US$1.3 trillion. It is followed by Europe, where 300 billionaires add up to a net worth of US$1.3 trillion, up from 248 billionaires in 2009 with a net worth of US$1 trillion. In Asia-Pacific, the 332 billionaires are worth US$996 billion, compared with 234 billionaires in 2010 worth US$729 billion.
The top three richest people in the world remain Mexican tycoon Carlos Slim, Bill Gates and Warren Buffett.
