China overtakes the U.S. for the most billionaires in the world... but America still still holds the global rich list

Chinese billionaires outnumber those in the Unites States for the first time in a 'turning point' as the communist nation takes another step towards taking over as the world's largest. China now boasts 596 billionaires - 60 more than the U.S.-  after a staggering 242 Chinese people became billionaires for the first time in just one year, according to a new survey.  see full list after the cut...

But while there may be more Chinese billionaires, those in America are richer.

The Unites States continues to dominate the list of wealthiest people on the planet with Americans making up seven of the top ten. Not a single Chinese entry made it into the top ten.

NAME                               NET WORTH (BN)            BUSINESS                       COUNTRY

1. Bill Gates                     $79.2                                    Microsoft                          United States

2.Carlos Slim Helu          $77.1                                   Telecom                           Mexico

3.Warren Buffett              $72.7                                    Berkshire Hathaway       United States

4. Amancio Ortega          $64.5                                    Zara                                  Spain

5. Larry Ellison                $54.3                                    Oracle                               United States

6. Charles Koch               $42.9                                   diversified                         United States

7. David Koch                  $42.9                                    diversified                        United States

8. Christy Walton             $41.7                                    Wal-Mart                          United States

9. Jim Walton                   $40.6                                    Wal-Mart                          United States

10. Liliane Bettencourt   $40.1                                     L'Oreal                             France