Bill Gates, one of the world's richest people, pictured 15 February, 2005. It has been a good year for billionaires, with the super-wealthy increasing their collective net worth by 300 billion dollars, Forbes Magazine reported in its annual ranking of the world's richest people.

Thanks to a surge in demand for steel, the Internet and Scandinavian
sofas, there are some new names among the very richest of the world's
billionaires.

Indian steel mogul Lakshmi Mittal, Mexican telecom magnate Carlos
Slim Helu and Ikea founder Ingvar Kamprad of Sweden knocked several
Wal-Mart heirs down a few notches
on Forbes magazine's 2005 rankings of the world's billionaires.

The billionaires are richer and more numerous for the second straight
year, but the No. 1 spot is unchanged - Microsoft Corp. founder Bill
Gates led the list for the eleventh year in
a row with a net worth of $46.5 billion, slightly less
than his $46.6 billion last year.

Investor Warren Buffet held a close second with $44 billion, up from
$42.9 billion in 2004.

Mittal - the biggest dollar gainer after quadrupling his net worth by
$18.8 billion to $25 billion - climbed 59 rungs from last year to No. 3
in 2005.

Rounding out the top 10 were Microsoft's Paul Allen, German
supermarket company owner Karl Albrecht, Oracle Corp.'s Lawrence Ellison
- returning to the top 10 after slipping to No. 12 last year - and
Wal-Mart Stores Inc.'s S. Robson Walton.

The number of billionaires grew to a record 691 from 587 last year,
and their total net worth rose by $300 billion to $2.2 trillion.

A confluence of factors contributed to the increase, said Forbes
associate editor Luisa Kroll, including positive performance by many
stock markets around the world - for example, in Ukraine and Iceland,
countries that debuted on the list along with Kazakhstan and Poland -
and the falling dollar.

Between February 2004 and February 2005, the 12-nation euro rose
about 4 percent against the dollar, while the British pound rose about 3
percent versus the U.S. currency.

"If you were a euro-based billionaire, you could've done nothing
and seen a 20 percent increase" over the past two years, Kroll
said.

Soaring commodities like oil and steel also helped make the rich
richer, as did the overall recovery of the global economy over the past
few years.

One of this year's new billionaires - and one of the list's 68 women,
up from 53 last year - was Martha Stewart, whose wealth swelled to $1
billion despite her conviction for lying about a stock sale and ensuing
five-month prison stint.