Rich list, India: 2019
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Richest Indian Mukesh Ambani jumped six positions to rank 13th on Forbes World's Billionaire list released on Tuesday that was again topped by Jeff Bezos.
E-commerce colossus Amazon founder Bezos, 55, remains the world's richest person, ahead of Bill Gates and Warren Buffett, as his riches swelled by $19 billion in one year and is now worth $131 billion, Forbes said.
Ambani, 61, saw wealth soar from $40.1 billion in 2018 when he was placed 19th richest in the world, to $50 billion to be rank at 13th in 2019.
"Ambani chairs and runs $60 billion (revenue) oil and gas giant Reliance Industries, among India's most valuable companies," Forbes said. "In 2016, Reliance sparked a price war in India's hyper-competitive telecom market with the launch of 4G phone service Jio."
Jio, it said, has signed on 280 million customers by offering free domestic voice calls, dirt-cheap data services and virtually free smartphones.
Ambani leads the 106 billionaires from India on the Forbes list. Wipro Chairman Azim Premji is ranked 36th with a net worth of $22.6 billion dollars. Technology major HCL's co-founder Shiv Nadar, ranked 82nd and ArcelorMittal Chairman and CEO Lakshmi Mittal at the 91st rank come in within the top-100 billionaires in the world.
The list of Indian billionaires includes Aditya Birla Group Chairman Kumar Birla (122), Chairman and founder of the Adani Group Gautam Adani (167), Bharti Airtel head Sunil Mittal (244), co-founder of consumer goods giant Patanjali Ayurveda Acharya Balkrishna (365), Piramal Entreprises Chair Ajay Piramal (436), Biocon founder Kiran Mazumdar-Shaw (617), Infosys co-founder N R Narayana Murthy (962) and RCom chairman Reliance Anil Ambani (1349).
Facebook founder Mark Zuckerberg dropped three spots and former New York mayor Michael Bloomberg rose by two.
Gates, 63, saw his wealth grow to $96.5 billion, up from $90 billion last year while investment guru Buffett, 88, at third position saw fortunes slipping by $1.5 billion to $82.5 billion, the magazine said.
Ambani was placed at the 33rd position on the 2017 listing of Forbes.
Forbes said he is the richest Indian and ranked 32nd on the 2018 Powerful People listing of the magazine. He was ranked Global Game Changer in 2017.
Bernard Arnault, CEO of French luxury good company, LVMH, held on to fourth places while Zuckerberg lost $9 billion in networth to slip from fifth the to eighth position.
Ahead of Zuckerberg now are Mexican tycoon Carlos Slim, Zara and Inditex founder Amancio Ortega of Spain and Oracle co-founder Larry Ellison.
Forbes said the "list is a snapshot of wealth using stock prices and exchange rates from February 8, 2019."
Some people become richer or poorer within days of publication.
"We list individuals rather than multigenerational families who share fortunes, though we include wealth belonging to a billionaire's spouse and children if that person is the founder of the fortune," it said.
The 33rd annual ranking has 2,153 billionaires on the 2019 list, down from 2,208 in 2018. The total combined net worth of this year's billionaires is $8.7 trillion, down from $9.1 trillion in 2018, Forbes said.
"This represents the first decrease in billionaires and their combined wealth since 2016 and only the second decrease in the past decade," it said. "A record 994 individuals are worth less than a year ago; last year only 360 members got poorer. The average net worth of this year's billionaires is $4 billion, down from $4.1 billion in 2018."
Of the total, 1,450 members are self-made.
For this year's list, Forbes said "capitalism is taking some lumps" as for only the second year in a decade, both the number of billionaires and their total wealth shrank, "proving that even the wealthiest are not immune to economic forces and weak stock markets".
Among the regions, Asia-Pacific was the hardest hit, with 60 fewer 10-figure fortunes. That dip was led by China, which has 49 fewer billionaires than a year ago, Forbes said adding that Europe, the Middle East and Africa also lost ground.
The Americas, driven by a resurgent Brazil, and the US are the only two regions that have more billionaires than they did a year ago. There are now a record 609 in the US, including 14 of the world's 20 richest.
Richest realtors in India
The richest property developers are in Mumbai. The Grohe Hurun India Real Estate Rich List 2019 released on Monday shows that six of the ten wealthiest realtors are from India’s financial capital. Heading the list for the third consecutive year is BJP MLA from south Mumbai’s Malabar Hill constituency, Mangal Prabhat Lodha & family of Macrotech Developers (Lodha Group) with a net worth of Rs 31,960 crore.
The second wealthiest builder is Rajiv Singh of Delhibased DLF with Rs 25,080 crore. Niranjan Hiranandani
(4), C L Raheja & family (5), Vikas Oberoi (6), Subhash Runwal & family (9) and Ajay Piramal & family (10) are among the Mumbai-based builders in the top ten list.
Smita V Crishna of Godrej Properties is listed as the richest woman on the 2019 Real Estate Rich list with a fortune of Rs 3,560 crore.
Three cities—Mumbai, New Delhi and Bengaluru—a-re home to 75% of the rich list. Delhi and Bengaluru accounted for 19 residents, each featured on the list of top 100 and in the top 10 wealthiest persons, Delhi-NCR contributed only one name while Bengaluru offered two.
The report said, “In a year when the Indian real estate by and large faced multiple challenges—from slowdown to funds crunch to spotty demand—the average wealth of top 100 richest Indians from the sector increased by 16%.’’ In 2019, the number of billionaires increased to 9 from 7 in 2018.
The report said that total wealth of Lodha family increased by 18% during 2019. Rajiv Singh’s wealth in 2019 increased by 42% to Rs 25,080 crore as compared to 2018 and thereby improved his ranking by one point to number two.
Rich list UK: Hindujas, Reubens top
Two Indian-origin brother duos top Britain’s rich list
Indian-origin brothers dominate the annual rich list of Britain’s wealthiest, with the Hinduja brothers ranked at No. 1 with a fortune of 22 billion pounds, followed by Mumbai-born Reuben brothers in second place with 18.66 billion pounds.
Srichand and Gopichand Hinduja, who run the Hinduja Group of companies in the UK, registered a 1.35 billion pounds jump in their fortunes over the previous year to return to the top of the ‘Sunday Times Rich List’ after topping it back in 2014 and 2017.
“Whether or not Britain leaves the EU, Gopi Hinduja is convinced it can forge a closer relationship with his family’s homeland,” notes the newspaper’s profile on the 79-year-old co-chair of the Hinduja Group, G P Hinduja.
The London-based industrialist, along with UK-based brother Sri and their brothers Prakash and Ashok control more than 50 companies with a total turnover of nearly 40 billion pounds in 2018, notes the Rich List.
The Hindujas, described as devout Hindus, have stakes in oil and gas, IT, energy, media, banking, property and healthcare. Some of the biggest hike in profits last year came from London-registered Hinduja Automotive, which includes North Yorkshire bus maker Optare and saw profits rise by 50% to 337 million pounds on 3.5 billion pounds sales in 2017-18.
The Reuben brothers, who were ranked fourth in 2018, also saw a massive 3.56 billion pounds jump in their fortunes. David, 80, and Simon, 77, have been on a buying spree, taking hold of 1 billion pounds of London property last year. PTI
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