Despite $13 bn loss, Ambanis up on Forbes rich list

They have lost more than USD 13 billion from their combined wealth, but still the two Ambani brothers have moved higher on Forbes' latest list of the world's ten richest CEOs, while Sunil Mittal has joined the league and Lakshmi Mittal has slipped two places.

Legendary American investor Warren Buffett has retained his top position on the annual list, but Indian-born steel tycoon Lakshmi Mittal has been toppled from his last year's second position by software major Oracle chief Larry Ellison.

Mittal has moved down to fourth position, while Mukesh Ambani, the elder of the two warring brothers, has jumped three positions to grab third rank this year.

The younger Ambani, Anil, has also moved up one place to sixth rank on this year's 'Forbes list of ten wealthiest CEOs'.

While another Indian business chief, Azim Premji, has moved out of the top-ten list, compatriot Sunil Mittal of Bharti Airtel has joined the league at ninth position.
 
IT major Wipro Chairman Premji was ranked ninth on the previous year's list. The total number of Indians on the list has remained unchanged at four on this year's list.

"Being a CEO isn't what it used to be. Crackdowns on corporate frills like private jets and over-the-top offices have become the norm, taking some of the fun -- but none of the stress -- out of running billion-dollar businesses," Forbes said.