India home to 101 billionaires : Forbes
Source :News Bharati English   Date :21-Mar-2017

New Delhi, March 21 : According to a latest release by the Forbes magazine, India is home to world's fourth highest number of billionaires with Reliance Industries chief MukeshAmbani leading the club of more than 100 super rich Indians.

The Forbes list of the 'World's Billionaires' 2017 consists of 2,043 of the richest people in the world who have a combined net worth of USD 7.67 trillion, a record 18% increase over the past year.

For the fourth year in a row, the list has been topped by the Microsoft co-founder, Bill Gates. He has been the richest person in the world for 18 out of the past 23 years. Gates has a fortune of USD 86 billion, up from USD 75 billion last year, followed by Berkshire Hathaway chief Warren Buffet with a new worth of USD 75.6 billion.

India is home to 101 billionaires, the first time it has has more than 100 super rich individuals. There are nearly 20 people of Indian-origin who have made fortunes in various nations across the world, led by UK-based Hinduja brothers ranked 64th with USD 15.4 billion net worth.

The list also includes the Indian-born tycoon,PallonjiMistry, who controls the 152-year-old Mumbai-headquartered engineering giant,ShapoorjiPallonji Group at the 77th spot with USD 14.3 billion net worth, and petrochemicals major Indorama co-founder Sri PrakashLohia at the 288th spot with USD 5.4 billion net worth.

Incidentally, Mistry's younger son Cyrus is currently embroiled in a legal battle with the Tata Group after he was suddenly ousted as chairman of Tata Sons, a position he had held since 2012.

MukeshAmbani, the owner of the biggest telecom operator in India, leads the pack of Indian billionaires, coming in at the 33rd position with a net worth of USD 23.2 billion.

Forbes said that Ambani sparked a price war in India's hyper-competitive telecom market with the launch of 4G phone service Jio last September. His younger brother Anil is ranked 745th with a net worth of USD 2.7 billion.

The younger Ambani sibling "orchestrated the merger of his Reliance Communication's telecom business with that of rival Aircel, controlled by Malaysian billionaire Ananda Krishnan.

The US continues to have more billionaires than any other nation, with a record 565, up from 540 a year ago. China is catching up with 319, Germany has the third most with 114 and India has the fourth highest number of billionaires.