Reliance Industries’ Chairman Mukesh Ambani has become the first Indian to make his way into the top ten of the Hurun Global Rich List 2019 of 2,470 billionaires with a net worth of $1 billion. With $54 billion, Mukesh Ambani, 61, is India’s richest person, the report said. However, India dropped to 5th spot with 104 billionaires, 28 less than last year. It’s for the first time that India has slipped to the fifth rank on the list since 2012.
“An underperforming rupee and a lackluster stock market resulted in the country losing one-third of the list,” Hurun Report India managing director and chief researcher Anas Rahman Junaid said.
Ambani is the only Asian on the list and his wealth is based on telecom, retail and energy, and bucked the poor stock market trend in India last year, Hurun Research said in a statement.
The Hurun Global Rich List 2019 is topped by Amazon chief executive Jeff Bezos for the second consecutive year.
Microsoft founder Bill Gates, with a wealth of $96 billion, ranks second in the global list followed by Warren Buffett, chairman of Berkshire Hathaway with net worth of $88 billion, LVMH’s Bernard Arnault at $86 billion at the fourth slot. Facebook’s Mark Zuckerberg, with networth of $80 billion, is at the fifth position.
“In December, Ambani made world headlines with the high-profile wedding of his daughter Isha, 27, and topped the Hurun India Philanthropy List 2018. Interestingly, Mukesh Ambani and his brother Anil Ambani may have started with similar amounts after inheriting from their father, but while Mukesh has added US$30bn in the past 7 years, his brother Anil has lost over US$5bn, from US$7bn seven years ago to US$1.9bn this year,” the report added.