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Michael Bloomberg, mayor of New York City, tops Forbes list of “World’s Most Powerful Billionaires”. Meanwhile media and banking titan Silvio Berlusconi, also prime minister of Italy, ranks second on the list. Billionaire industrial heir, Saad Hariri, who was appointed prime minister of Lebanon last JUN ranks fifth. Rounding out the top five are Mexican telecom titan Carlos Slim and Russian oil magnate Vagit Alekperov. Hong Kong and East Asia wealthiest man, Li Ka-Shing ranks eight in the list.

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