J.K Rowling: Billionaire to millionaire

 Harry Potter  author J.K Rowling is no longer a billionaire.
Photo / File
Harry Potter author J.K Rowling is no longer a billionaire. Photo / File

One of the world's wealthiest women, J.K Rowling, has given so much money to charity she can no longer claim billionaire status.

The Harry Potter author has fallen down the Forbes rich list because of her charitable giving, the business magazine said.

Forbes, which has produced an annual list of billionaires for the past 25 years, said Rowling's philanthropic ways had dented her bank balance, along with the heavy taxation burden levied on high earners in Britain, the The Telegraph reported.

Last year, Rowling was estimated by Forbes to be worth US$1 billion, with the bulk of her money coming from her books and the Harry Potter film franchise.

According to The Telegraph, the magazine said: "New information about Rowling's estimated US$160 million in charitable giving combined with Britain's high tax rates bumped the Harry Potter scribe from our list this year."

For the third year in a row, the world's richest man is 72-year-old Mexican telco chief Carlos Slim Helu, despite a decline in his fortune from US$74 billion to US$69 billion.

He is followed by the Microsoft owner Bill Gates and fellow American Warren Buffett, with US$61 billion and US$44 billion respectively.

- HERALD ONLINE

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