India 3rd largest home of billionaires, Mukesh Ambani richest Asian: Forbes

Amazon founder Jeff Bezos tops Forbes’ global list of millionaires for the fourth time, and is followed by SpaceX founder Elon Musk

Mukesh Ambani
Ambani, the richest person in India and Asia ranks 10th in the world list of billionaires with a net worth of USD 84.5 billion | Photo: Twitter

India now boasts of being home to the world’s third largest number of billionaires after the US and China while Reliance Industries Chairman has dethroned Chinese business tycoon Jack Ma to be the richest man in Asia, a new list released by the Forbes magazine said.

Amazon CEO and founder Jeff Bezos has yet again topped Forbes’ 35th annual list of world billionaires, for the fourth time, while the second place has been claimed by SpaceX founder Elon Musk. Bezos net worth is USD 177 billion, up USD 64 billion from a year ago as a result of surging Amazon shares while Musk’s fortune ballooned to USD 151 billion, a whopping USD 126.4 billion more than a year ago, when he had ranked 31 and was worth USD 24.6 billion, Forbes magazine said.

Ambani, the richest person in India and Asia ranks 10th in the world list of billionaires. He reclaimed his spot as Asia’s richest person with a net worth of USD 84.5 billion. He took the place of China’s Jack Ma, whose rank in turn sank to 26 (from 17 last year) despite a nearly USD 10 billion jump in his fortune to USD 48.4 billion, Forbes said.

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Adani Group Chairman Gautam Adani, the second richest person in India, is ranked 24th on the global list of billionaires with a net worth of USD 50.5 billion. Chairman of the Poonawalla Group and founder of the Serum Institute of India, the world’s largest vaccine manufacturer, Cyrus Poonawalla is ranked 169th on the Forbes list of the world’s billionaires with a net worth of USD 12.7 billion. Poonawalla ranks seven on the list of Indian billionaires. Founder of HCL Technologies Shiv Nadar, the third richest person in India, is ranked 71st globally and has a net worth of USD 23.5 billion. The three richest Indians alone have added just over USD 100 billion between them, Forbes said.

At 724, the US has more billionaires than any other country in the world (up from 614 last year). China is closing the gap with 698 billionaires, up from 456 last year. As a result of the gains in China, Beijing is home to more billionaires than anywhere in the world, overtaking New York City, Forbes said.

India has the third highest number of billionaires, with 140, followed by Germany with 136 and Russia with 117. Forbes said the 1,149 billionaires from Asia-Pacific countries together are worth USD 4.7 trillion, while the US billionaires are worth a total USD 4.4 trillion. On the global list, 106 are under 40.

The youngest billionaire is 18-year-old Kevin David Lehmann of Germany, whose father Guenther Lehmann transferred his stake in drugstore chain dm-drogerie mkt to him. His worth is USD 3.3 billion and ranks 925 on the list, while the oldest billionaire is 99-year old US insurance tycoon George Joseph, it said.

The number of billionaires on Forbes 35th annual list of the world’s wealthiest exploded to an unprecedented 2,755 — 660 more than a year ago, altogether worth USD 13.1 trillion, it said. There are a record high 493 newcomers to the list, roughly one new billionaire every 17 hours, including 210 from China and Hong Kong and 98 from the US.

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French billionaire Bernard Arnault, who oversees an empire of 70 brands, including Louis Vuitton and Sephora, is the third richest person in the world with a net worth of USD 150 billion, followed by chair of the Bill & Melinda Gates Foundation Bill Gates (USD 124 billion), Facebook founder Mark Zuckerberg (USD 97 billion).

(With inputs from agencies)