Mukesh Ambani richest Indian, ranked 4th in world: Forbes

File photo of Mukesh Ambani.

Reliance Industries Limited (RIL) Chairman and Managing Director Mukesh Ambani has retained his position as the richest Indian with a net worth of $ 29 billion in the Forbes Billionaires list published today.

Ambani is one of two Indians in the top 10 of the list that has a new richest man at the top: Mexican tycoon Carlos Slim Helu, who has beaten Americans Bill Gates and Warren Buffet to take the first spot. Gates is at number two and Buffet is in the third place.

The Reliance chief has jumped three places to fourth this year from last year's seventh rank. He is followed at number five by steel tycoon Lakshmi Mittal with a net worth of $ 28.5 billion.

Ambani has been ranked the richest Indian for the second straight year. According to the magazine, his net worth has increased by $ 9.5 billion in the last one year.

Mukesh Ambani's estranged younger brother Anil Ambani has slipped two ranks to finish in the 36th spot. The younger Ambani's net worth has increased by $ 3.6 billion to $ 13.7 billion.

Wipro Chairman Azim Premji, who has a net worth of $ 17 billion, vastly improved his ranking from 83 last year to 28 this time, adding $ 11.3 billion during the period. He figures in the list as the third richest Indian, followed by Anil Ambani in the fourth place.

Brothers Shashi and Ravi Ruia of the Essar Group improved rankings from the 86th to the 40th spot with a net worth of $ 13 billion.

Forbes estimated Slim's fortune at $ 53.5 billion, Microsoft chief Gates' at $ 53 billion and investor Buffet's fortune at $ 47 billion.

"Most of the richest people on the planet have seen their fortunes soar in the past year," the magazine said.

This year, the world's billionaires had an average net worth of $3.5 billion, up $500 million in 12 months, the magazine said.

"The world has 1,011 10-figure titans, up from 793 a year ago but still shy of the record 1,125 in 2008. Of those billionaires on last year's list, only 12% saw their fortunes decline," it said in the report.

"U.S. billionaires still dominate the ranks--but their grip is slipping. Americans account for 40% of the world's billionaires, down from 45% a year ago. The U.S. commands 38% of the collective $3.6 trillion net worth of the world's richest, down from 44% a year ago," it said.

Of the 97 new members of the list, only 16% are from the U.S. By contrast, Asia made big gains. The region added 104 moguls and now has just 14 fewer than Europe, thanks to several large public offerings and swelling stock markets, the magazine said.

Finland and Pakistan both welcomed their first billionaires. For the first time China (including Hong Kong) has the most billionaires outside the U.S. with 89.

Russia has 62 billionaires, 28 of them returnees who had fallen off last year's list amid a meltdown in commodities. Eleven countries have at least double the number of billionaires they had a year ago, including China, India, Turkey and South Korea.

According to the report, the number of Indian billionaires more than doubled from 24 earlier to 50 now. Their cumulative wealth went up by $ 118.9 billion to about $ 227.9 billion, it said.

The list also includes a college dropout from Gujarat, Shahid Balwa, who is in the 937th position with a net worth of $ 1 billion. He is in the real estate businessman.

Indians in the top 100 of the list are: Savitri Jindal (44, $12.2 billion), K P Singh (74, $ 9 billion), Kumar Mangalam Birla (86, $ 7.9 billion) and Sunil Mittal (87, $ 7.8 billion).

Other Indians in the list include Anil Agarwal (113, $ 6.4 billion), Pallonji Mistry (129, $ 5.8 billion), Adi Godrej & family (148, $ 5.2 billion), Gautam Adani (167, $ 4.8 billion), Dilip Shanghvi (173, $ 4.6 billion) and Shiv Nadar (201, $ 4.2 billion).

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