Indian billionaires double to 49 from last year in the world's billionaire list

Media News

Mumbai, March 18, 2010

India is considered as one of the world's best-performing and strongest economies and it is inevitable that it will grow to be an economic superpower by the year 2020. Indian economy has been mostly insulated from global downturns, showing a degree of stability that is as impressive as the rate of its expansion. India has shown the most robust success story across emerging markets in spite of the recession hitting the world economy. And without surprise, Indians have staged a strong showing in the latest Forbes World's Billionaires list. The number of Indian billionaires in the world's billionaire list has doubled this year, increasing to 49 from 24 previously, with a combined wealth of $222.1 billion - about 17% of India's GDP and an average net worth of $4.5 billion. Two Indians - Mukesh Ambani and Lakshmi Mittal - rank among the five wealthiest individuals in the world in the annual billionaire list by Forbes magazine. The richest man in Asia-Pacific and fourth in the world rankings is fifty two year old Mukesh Ambani, head of Reliance Industries. Ranked seventh globally last year, the Indian national is valued at USD 29 billion, up almost 50% from USD 19.5 billion in 2009. Following closely behind is fifty nine year old Lakshmi Mittal, chairman and CEO of ArcelorMittal. He is ranked fifth in the world, up from No. 8 last year. Mittal is worth USD 28.7 billion, up nearly 50% from USD 19.3 billion previously.

Going by the list, the world now has 1,011 billionaires compared with 793 in 2009 with an average networth of $3.5 billion; 10 of Asia's top 25 billionaires are Indians and 11 countries have at least double the number of billionaires they had a year ago, including China, India, Turkey and South Korea. The US is home to 40% of the world's billionaires, but it is declining. Last year it was 45%. China has 89 billionaires. Pakistan just got its first billionaire.

For the third time in three years, the world has a new richest man. Riding surging prices of his various telecom holdings, including giant mobile outfit America Movil ( AMX - news - people ), Mexican tycoon Carlos Slim Helu with a networth of $53.5 billion and has beaten out Americans Bill Gates and Warren Buffett to become the wealthiest person on earth and nab the top spot on the 2010 Forbes list of the World's Billionaires.

India's billionaires come from a myriad of sectors. Apart from Ambani and Mittal, only four Indians rank in the top 50 which include Azim Premji, the Chariman of Wipro is ranked 28th with a net worth of $17 billion, followed by Anil Ambani at 36th with $13.7 billion; Essar Group owners Shashi & Ravi Ruia are ranked 40th with a combined net worth of $13 billion; Savitri Jindal of the Jindal Group ranking 44th with a net worth of $12.2 billion. Savitri Jindal is the only Indian woman to have made it to the top 50 of Forbes List.

Three more Indians figure in the top 100. Kushal Pal Singh the Chairman of DLF ranks 74th with a net worth of $9 billion followed by Chairman of Aditya Birla Group, Kumar Birla at 86th with a net worth of $7.9 billion and Chairman and MD of Bharti Group, Sunil Mittal at 86th with a net worth of $7.8 billion.

For further analysis, and an in depth understanding of arguably on the world's most authentic data on wealth and business and the India shining story, look out for the Forbes India issue which will be on stands on 19th March 2010.

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