Top management Reliance Industries Ltd chairman Mukesh Ambani is now among the Top 10 richest persons in the world with a net worth of $54 billion even as younger brother Anil Ambani meager into the oblivion having lost over 65% of his net worth, as per the report.
As list shown from The Hurun Global Rich List 2019 is topped by Amazon chief executive Jeff Bezos for the second year in a row, as Mukesh Ambani is placed 10th with a net worth of 3.83 trillion, thanks to a rally in RIL share prices, the energy-to-telecom group a market capitalisation of 8 trillion.
Big man Mukesh Ambani owns almost 52% in Reliance Industries.
As Anil Ambani, held in contempt of court by the Supreme Court last week for not paying Ericsson 540 crore, has lost over $5 billion from $7 billion seven years ago to $1.9 billion this year, even though both the brothers got off with more or less the same amount of inherited wealth.
Also "Having started off similarly after the break-up of the family wealth, Mukesh added $30 billion to his wealth in the past 7 years, while Anil has lost over $5 billion during the same period," as per the report.
Other wealthiest Indians are Hinduja Group chairman S.P. Hinduja with net worth of $21 billion, Wipro chairman Azim Premji is at 3rd with a networth of $17 billion, the report showed.
Cyrus S. Poonawalla, chairman of the Poonawalla group which run Serum Institute, with a net worth of $13 billion is not only ranked as the 4th richest Indian but also breaks into the top 100 global ranking.
Steel ArcelorMittal's Lakshmi Mittal stands at 5th position, followed by Kotak Mahindra Bank's Uday Kotak ($11 billion), Gautam Adani ($9.9 billion) and Sun Pharma's Dilip Shanghvi ($9.5 billion).
Cyrus Pallonji Mistry and Shapoorji Pallonji Mistry, both with wealth of $9.5 billion each come in the 9th and the 10th position, respectively, thanks to their 18.4% holding in the country's largest conglomerate Tata Group.
As per the list, Smita Crishna, a third-generation heir of the Godrej family, tops the female billionaire list with a networth of $6.1 billion, while Kiran Mazumdar Shaw of Biocon Ltd is the richest self-made woman entrepreneur ranked 671 with a wealth of $3.5 billion.
"From 2012, this is for that first time that India has slipped to the 5th rank in the Hurun Global Rich List. 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.
Report also points out that media billionaires had a bad year, led by Zee's Subhash Chandra and Sun TV's Kalanithi Maran who lost their networth substantially.
Amazon tops the list for the second consecutive year with net worth of $147 billion, which may not hold for long as he is divorcing his wife who owns half of his 16% stake in the world's largest online retailer.
As per the Hurun report, the number of individuals featured in the 2019 edition has come down by 224 to 2,470 from 2,694 in 2018. Cumulative wealth of these 2,470 individuals stood at $9.5 trillion amounting to 12% of global GDP.
Wealth of $96 billion, Microsoft founder Bill Gates ranks 2nd in the global list followed by Warren Buffett, chairman of Berkshire Hathaway Inc. with net worth of $88 billion, LVMH's Bernard Arnault at $86 billion at the 4th slot.
Facebook's Mark Zuckerberg with networth of $80 billion is at the 5th position.
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