RAPAPORT... Inheritance, hedge funds, real estate, oil/gas led the categories of world's wealthiest on Forbes magazine's billionaire list for 2007.

However, some luxury goods entrepreneurs and diamantaires made it onto the 2007 list as well.  Overall the list included 946 billionaires and 178 newcomers. Two-thirds of the wealthiest people on the list grew richer from one year before. The combined net worth of those on the list is more than $3.5 trillion -- or $900 billion more than in year 2006.

The ranking of the world's richest people for this year began by compiling data in early 2006 and ended on February 9, 2007. William (Bill) Gates III of the Microsoft Corporation ranked No.1. The 51-year-old entrepreneur’s wealth was listed at $56 billion.  Warren Buffett, 76, of Berkshire Hathaway ranked No.2 with net worth of $52 billion.

No.7: Luxury retailer LVHM's Bernard Arnault of France -- the 58-year-old is worth $26 billion.

No.34: Retailer Francois Pinault of France, who is 70 years old, is worth $14.5 billion.

No.62: Brothers Alain and Gerard Wertheimer of France, who control the Chanel brand, are worth $10 billion.

No.158: De Beers' chairman Nicky Oppenheimer, 61, and family out of South Africa held net worth of $5 billion. Oppenheimer ranked No.72 in year 2005.

No.177: Giorgio Armani, 72, of Italy held net worth of $4.5 billion.

No.210: Lev Leviev, 51, diamantaire from Israel, held net worth of $4.1 billion. Leviev moved up 18 spots since year 2005.

No.273: Swatch brand owner Nicolas Hayek, 78, of Switzerland held net worth of $3.2 billion.

No.583: Benny Steinmetz, 50, of Israel held net worth of $1.7 billion.

No.664: Retailer (Kohl's) William Kellogg, 63, of Wisconsin held net worth of $1.5 billion.

There were eight billionaires on the list from Wal-Mart Stores Inc.