THE number of billionaires in the world fell by nearly a third to 793 in the past year, as the global financial meltdown wiped out US$2 trillion (S$3 trillion) from their net worth, Forbes magazine said on Wednesday.

Russians are among the hardest- hit, with Moscow losing its title as the world's billionaire capital to New York, according to the magazine's annual list of billionaires.

Microsoft founder Bill Gates is the richest man again. He regains the top spot with US$40 billion after slipping to third last year, when he was worth US$58 billion.

Investor Warren Buffett, last year's richest man, falls to second place with US$37 billion, down from US$62 billion, while Mexican telecommunications tycoon Carlos Slim Helu takes third place with US$35 billion, down from US$60 billion.

Collectively, the top-three billionaires lost US$68 billion in the year to Feb 13.

Mr Steve Forbes, chief executive of Forbes magazine, said that even though few would shed a tear for the plight of billionaires, it is bad for the economy when entrepreneurs are in trouble.

'Billionaires don't have to worry about their next meal, but if their wealth is declining and you're not creating numerous new billionaires, it means the rest of the world is not doing very well,' he told reporters.

'The typical billionaire is down at least one third on their net worth.'

In Asia, the richest men are petrochemical tycoon Mukesh Ambani and steel magnate Lakshmi Mittal, both from India, and Hong Kong tycoon Li Ka Shing. They are in the top 20.

Only two Singaporeans are listed this year: Mr Ng Teng Fong of Far East Organization and United Overseas Bank's Mr Wee Cho Yaw.

The three who have fallen off this year's list are Mr Zhong Sheng Jian, chairman of property group Yanlord Land, Wilmar International chief executive Kuok Khoon Hong and 'Remisier King' Peter Lim. - REUTERS