March 6, 2008 Four Indians in
Forbes List
of 10 World Richest By Parveen Chopra
New York
Four Indians are among the 10 richest in the world, the highest
number from a single country, according to Forbes' list of world's
billionaires.
While Warren Buffet, the Berkshire Hathaway investor, takes the
title of the world's richest man from Microsoft chief Bill Gates who
slips to third place after a 13-year reign at the top, Britain-based
industrialist Lakshmi Mittal has climbed one spot from last year to
be ranked fourth this year in the US magazine's annual list of
billionaires released Wednesday.
With a net worth of $45 billion, Mittal heads the world's largest
steel maker ArcelorMittal. He lives in Britain but retains his
Indian citizenship.
Just behind Mittal is Mukesh Ambani at No 5. With a net worth of $43
billion, he is Asia's richest resident. He heads petrochemicals
giant Reliance Industries, India's most valuable company by market
cap. His fortune is up $22.9 billion since last year, making him the
world's second biggest gainer in terms of dollars. His rank last
year was 14.
Mukesh's estranged brother Anil Ambani is the biggest gainer. He now
ranks sixth in the world, climbing 12 places from last year. He
gained $23.8 billion over the year and is now worth $42 billion. His
biggest asset is his 65 percent stake in telecom venture Reliance
Communications. He raised $3 billion last month from the Reliance
Power IPO, the biggest in India's history. Despite the hype, the
stock tumbled 17 percent immediately after it was listed.
K.P. Singh, chief of real estate developer DLF, has climbed from
62nd place to eighth, helped by his company's listing which tripled
his fortune to $30 billion.
The world's three richest men remain the same from last year, though
their ranks have been changed around. Behind Buffet at $62 billion
on the top is Mexican telecom tycoon Carlos Slim Helú who has
doubled his fortune in two years to $60 billion. Gates has been
relegated to third place with $58 billion.
The number of billionaires Forbes could identify has crossed into
four figures, reaching 1,125. The total net worth of the group is
$4.4 trillion, up $900 billion from last year.
Despite the turbulence in the US markets, Americans account for 42
percent of the world's billionaires and 37 percent of the total
wealth. But the US can now claim only four among the world's 20
richest, down from 10 last year.
India is placed fourth in the number of billionaires. It accounts
for 53 and 19 of them make their debut in the elite club. Only US
(475), Russia (87) and Germany (59) have more billionaires.
Other notable Indians in the list include Ruia brothers Shashi and
Ravi of the Essar Group who are at No 43 with $15 billion, up from
86th place last year. Azim Premji of Wipro has slipped from 21st to
62nd place. Sunil Mittal of Bharti group is at No 64.
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